With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.
Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Alliance Aviation Services Ltd (ASX: AQZ)
According to a note out of Ord Minnett, its analysts have retained their buy rating and lifted their price target on this aviation services company’s shares to $5.15. The broker was pleased with the company’s half year results and notes that its profit came in a touch higher than expected. Ord Minnett was also impressed with its cash flows. Looking ahead, the broker believes the company is well-placed to benefit from a shift to contract and charter based services in the domestic market. The Alliance Aviation share price is trading at $4.27 today.
Baby Bunting Group Ltd (ASX: BBN)
A note out of Morgans reveals that its analysts have upgraded this baby products retailer’s shares to an add rating with an improved price target of $6.39. According to the note, the broker made the move following the release of its first half result last week. Although its margin expansion, and therefore its profit growth, was a little softer than the broker forecast, it was pleased with many aspects of its update. One of those was its expansion into New Zealand. It feels this gives its already positive growth outlook an added boost. The Baby Bunting share price is fetching $5.76 today.
Mirvac Group (ASX: MGR)
Analysts at Macquarie have retained their outperform rating but cut the price target on this property company’s shares slightly to $2.84. According to the note, Mirvac delivered a stronger than expected first half result and its guidance for the full year was in line with its estimates. Looking further ahead, the broker believes Mirvac can grow its earnings over the coming years thanks to a number of new developments. The Mirvac share price is trading at $2.30 on Monday.