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:
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Goodman Group (ASX: GMG)
According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this integrated commercial property company's shares to $22.10. This follows the release of Goodman's third quarter update last week. Citi believes the update highlights improving operating conditions, particularly given how its work in progress has increased ahead of expectations. In addition to this, it notes stronger rental growth and a sky high occupancy rate. Overall, it suspects that Goodman could be positioned to outperform the market's growth expectations over the medium term. The Goodman share price is fetching $19.45 today.
Nearmap Ltd (ASX: NEA)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $3.30 price target on this embattled aerial imagery technology and location data company's shares. According to the note, the broker doesn't see legal threats as a risk to its earnings power, only to short term liquidity. Overall, it still feels that the company, and particularly its US business, is being undervalued by the market. As a result, it is happy to hold firm with its overweight rating. The Nearmap share price is trading at $1.80 today.
ResMed Inc. (ASX: RMD)
Analysts at Credit Suisse have retained their outperform rating and $29.00 price target on this sleep treatment focused medical device company's shares. According to the note, the broker believes ResMed's new AirSense 11 CPAP device could be a key driver of growth in the coming years. It suspects that around a fifth of machines bought between FY 2015 and FY 2019 are likely to upgrade to the new technology. In light of this, it has increased its estimates accordingly. The ResMed share price is fetching $25.15 on Monday afternoon.
