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 leading brokers have named as buys this week are listed below. Here's why they are bullish on them:
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Audinate Group Ltd (ASX: AD8)
According to a note out of UBS, its analysts have retained their buy rating and lifted their price target on this audio over IP networking solution provider's shares to $11.30. The broker was very pleased with Audinate's strong fourth quarter update and notes that its outlook remains strong. Particularly given its record high backlog of orders from customers. In addition to this, the broker highlights that its first Dante video products have been launched and were well-received by the industry. The Audinate share price is trading at $9.99 today.
National Australia Bank Ltd (ASX: NAB)
A note out of Macquarie reveals that its analysts have upgraded this banking giant's shares to an outperform rating with a $28.00 price target. The broker made the move on valuation grounds following a recent pullback in the NAB share price. Macquarie believes that NAB is well-placed from a balance sheet perspective to absorb any issues relating to its AUSTRAC investigation and a potential economic slowdown. The NAB share price is trading at $26.23 on Monday afternoon.
Orocobre Limited (ASX: ORE)
Another note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this lithium miner's shares to $8.20. According to the note, Orocobre's fourth quarter shipments were slightly lower than expected during the fourth quarter. However, this was offset by stronger prices than Macquarie was expecting. In light of this strong pricing, the broker has upgraded its earnings estimates and price target accordingly. The Orocobre share price is fetching $6.78 today.
