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:
Allkem Ltd (ASX: AKE)
According to a note out of UBS, its analysts have retained their buy rating and lifted their price target on this lithium miner's shares to $13.80. This follows positive revisions to the broker's commodity forecasts to reflect rising prices since Russia invaded the Ukraine. Overall, UBS is very positive on lithium and particularly Allkem. The Allkem share price is trading at $11.20 on Monday afternoon.
Harvey Norman Holdings Limited (ASX: HVN)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating but trimmed their price target on this retail giant's shares to $5.80. Goldman likes Harvey Norman due to its unique position within the electronics and appliances retail industry. Overall, it believes the retailer is a more defensive option that is undervalued in the home category. And while the broker's price target doesn't offer significant upside from the current Harvey Norman share price of $5.55, Goldman highlights that its 7.8% fully franked FY 2022 dividend yield estimate sweetens the deal.
Premier Investments Limited (ASX: PMV)
Analysts at Macquarie have retained their outperform rating and $35.00 price target on this retail giant's shares. This follows the release of a half year result last week that was in line with the broker's estimates. Overall, Macquarie was impressed with Premier's performance in a challenging environment and appears optimistic that its solid form will continue. The Premier Investments share price is trading at $28.69 today.
