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:
Bapcor Ltd (ASX: BAP)
According to a note out of UBS, its analysts have retained their buy rating and $8.10 price target on this auto parts retailer's shares. Although UBS suspects that Bapcor has lost market share to rival GPC, it is sticking with the company. The broker believes the company is over the worst of its issues and is optimistic that the acceleration of its operational improvement will lead to a market share recovery. The Bapcor share price is currently trading at $6.82.
PWR Holdings Ltd (ASX: PWH)
A note out of Morgans reveals that its analysts have retained their add rating and lifted their price target on this automotive cooling solutions company's shares to $10.05. This follows the release of a half year result which came in well ahead of the broker's expectations thanks largely to its Motorsports business. Outside this, the broker is positive on the future and believes PWR has strong organic growth potential. The PWR share price is fetching $8.50 today.
QBE Insurance Group Ltd (ASX: QBE)
Analysts at Citi have retained their buy rating but cut their price target on this insurance giant's shares to $13.70. According to the note, QBE delivered a full year result that fell short of the broker's estimates. And while it also felt its guidance was a touch soft, Citi saw enough positives to maintain its buy rating. It was pleased with QBE's premium growth and expects rising interest rates to boost its performance. The QBE share price is trading at $12.09 on Monday afternoon.
