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:
Beach Energy Ltd (ASX: BPT)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted the price target on this energy producer’s shares to $2.10. While the broker acknowledges that there are risks relating to its Western flank oil production at the moment, it overlooks this due to the long term potential of its growing gas business. In addition, the broker notes that arbitration has ruled in favour of Beach Energy and guaranteed higher prices at the Otway Gas project for the next three years. The Beach Energy share price is fetching $1.76 on Monday afternoon.
DEXUS Property Group (ASX: DXS)
A note out of Morgan Stanley reveals that its analysts have upgraded this property company’s shares to an overweight rating with an improved price target of $11.70. According to the note, the broker believes that demand for office space won’t fall as much as feared and suspects that rental weakness could be bottoming now. Looking ahead, it feels that signs of improvement could lead to a re-rating of its shares to higher multiples. The DEXUS share price is trading at $10.29 on Monday.
Goodman Group (ASX: GMG)
Another note out of Macquarie reveals that its analysts have retained their outperform rating and $20.39 price target on this commercial property company’s shares. According to the note, the broker has been looking at its US operations. It notes that there are significant developments planned in the market which have a lot of potential. Outside this, the broker appears to believe Goodman is well-placed for growth and feels that the risks to its earnings are to the upside right now. The Goodman share price is fetching $19.03 this afternoon.