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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Qantas Airways Limited (ASX: QAN)
According to a note out of UBS, its analysts have retained their buy rating but trimmed their price target on this airline operator's shares to $6.20. This follows the release of a trading update last week which revealed expectations for a greater than expected first half loss but a better net debt outcome. Overall, the broker remains positive on Qantas and feels that the risks it is facing are already priced into its shares. The Qantas share price is trading at $4.78 today.
Santos Ltd (ASX: STO)
A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this energy producer's shares slightly to $8.65 following the completion of its merger with Oil Search. Morgans is positive on the company's outlook and sees upside risk from the potential sale of stakes in some of its assets. Overall, the broker believes the merger leaves Santos well positioned to control its own future in increasingly difficult ESG-driven debt and equity markets. The Santos share price is fetching $6.09 on Monday.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at Citi have retained their buy rating and $13.80 price target on this wine company's shares. Citi came away from a key industry event in the United States feeling very positive. It notes that the update pointed to a recovery in high-margin on-premise and cellar-door wine sales in the United States. This is consistent with recent feedback from rival Duckhorn. In light of this, the broker is forecasting Treasury Americas' first half EBITS to increase by 19% despite the divestment of commercial wine brands in March 2021. The Treasury Wine share price is trading at $12.07 this afternoon.
