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:
News Corp (ASX: NWS)
According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating and increased their price target on this media giant’s shares to $44.50. This follows the release of its full year result last week. And while News Corp fell a touch short of its expectations, the broker remains very positive on its outlook. It is forecasting operating earnings growth of 17% in FY 2022. It also believes share buybacks could unlock value for shareholders. The News Corp share price is trading at $32.37 today.
REA Group Limited (ASX: REA)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $185.00 price target on this property listings company’s shares. Morgan Stanley was pleased with REA’s FY 2021 result. And while it suspects that its first half result could be a touch softer than expected in FY 2022 because of lockdowns, it expects listing volumes to rebound quickly. In light of this, it appears to believe any short term share price weakness would be a buying opportunity. The REA share price is fetching $154.24 today.
ResMed Inc (ASX: RMD)
Analysts at Morgans have retained their add rating and lifted their price target on this sleep treatment company’s shares by almost 42% to $41.34. This follows the release of a stronger than expected fourth quarter update last week. It also notes that management expects a US$300 million to US$350 million revenue benefit in FY 2022 from the product recall by rival Philips. The broker notes that this has led to unsatisfied demand everywhere. Though, Morgans acknowledges that bottlenecks in the supply chain could limit the benefit from pent-up demand for devices. The ResMed share price is trading at $37.77 today.