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:
Afterpay Ltd (ASX: APT)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $149.00 price target on this payments company's shares. This follows the conclusion of the Reserve Bank of Australia's review of retail payments. The broker believes that the preliminary conclusions are positive for Afterpay and fellow buy now pay later providers. Particularly given that the central bank sees no reason to force companies to remove the no-surcharge rule at present. The Afterpay share price is fetching $95.12 today.
Corporate Travel Management Ltd (ASX: CTD)
A note out of Citi reveals that its analysts have initiated coverage on this corporate travel specialist's shares with a buy rating and $23.65 price target. According to the note, the broker made the move due to a combination of its attractive valuation and its belief that Corporate Travel Management is facing the fewest headwinds among travel peers. It also suspects that its earnings will rebound quicker than its rivals due to its strong domestic business and its exposure to a recovering US market via recent acquisitions. The Corporate Travel Management share price is trading at $21.48 on Monday.
Telstra Corporation Ltd (ASX: TLS)
Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $4.00 price target on this telco giant's shares. The broker notes that rival Optus is focusing more on profits rather than subscriber growth. It sees this as a big positive for Telstra and notes that it supports its view that the Australian mobile market will soon experience prices increases. Morgan Stanley expects this to lead to improving ARPU in Telstra's mobile business in the coming years. The Telstra share price is trading at $3.54 this morning.
