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 Corporation (ASX: NWS)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and increased their price target on this media giant’s shares to $45.20. This follows the release of News Corp’s first quarter update, which the broker described as “high quality”. Goldman also notes that management’s outlook for the remainder of FY 2022 was positive. This gives the broker confidence that the company will achieve its full year EBITDA estimate of US$1.6 billion, which represents 21% year on year growth. The News Corp share price is trading at $33.01 today.
REA Group Limited (ASX: REA)
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this property listings company’s shares to $192. The broker made the move following the release of a strong first quarter update from REA Group. Its analysts were pleased with the company’s performance and particularly the strong ad yield growth. The REA Group share price is fetching $170.03 on Monday.
Sonic Healthcare Limited (ASX: SHL)
Analysts at Morgan Stanley have retained their overweight rating and lifted their price target on this healthcare company’s shares to $46.10. According to the note, the broker has upgraded its earnings estimates to reflect robust COVID-19 testing volumes. Morgan Stanley notes that global testing data reveals that demand remains strong and it expects Sonic to be benefiting greatly. The Sonic share price is trading at $39.76 on Monday afternoon.