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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Allkem Ltd (ASX: AKE)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this lithium miner's shares to $15.24. This follows the release of a pricing update last week which revealed expectations for materially higher lithium prices during the current quarter. Outside this, the broker is a fan of Allkem due to the diversification of its operations (geographically and production type). The Allkem share price is trading at $13.40 on Monday afternoon.
Domain Holdings Australia Ltd (ASX: DHG)
A note out of Citi reveals that its analysts have retained their buy rating and $6.15 price target on this property listings company's shares. This follows news that Domain is acquiring campaign management platform company Realbase for $180 million. While the broker has concerns over the premium that Domain is paying and would have preferred it to be a scrip offer rather than cash, it acknowledges that the deal is in line with its marketplace strategy and expects it to boost its Agent Solutions business. The Domain share price is fetching $3.98 today.
Ramsay Health Care Limited (ASX: RHC)
Another note out of Citi reveals that its analysts have retained their buy rating but trimmed their price target slightly on this private hospital operator's shares to $74.00. Citi suspects that Ramsay's recent acquisitions have been holding its shares back given the high costs it has been paying. Nevertheless, with Ramsay's earnings on the brink of normalising again after the pandemic, Citi sees enough value in them to maintain its buy rating. The Ramsay share price is trading at $64.67 on Monday.
