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:
Australia and New Zealand Banking Group Ltd (ASX: ANZ)
According to a note out of Citi, its analysts have upgraded this banking giant's shares to a buy rating with an improved price target of $30.75. Citi believes the Reserve Bank's rate hikes will reshape the banking sector's earnings profile over the next few years and take net interest margins to levels that are materially higher than consensus estimates. Particularly given its belief that the impact on asset quality won't be as great as some fear. The ANZ share price is trading at $27.68 on Monday.
Treasury Wine Estates Ltd (ASX: TWE)
Another note out of Citi reveals that its analysts have retained their buy rating and $13.78 price target on this wine company's shares. Citi notes that rival Constellation Brands' fourth quarter result revealed inflationary pressures adversely impacting earnings, with cost headwinds likely to continue in FY 2023. While the broker expects Treasury Wine to be similarly impacted, it expects price rises, premiumisation, and the re-opening of higher margin on premise channels to offset some of this. The Treasury Wine share price is fetching $11.27 today.
Whitehaven Coal Ltd (ASX: WHC)
Analysts at Morgans have retained their add rating and lifted their price target on this coal miner's shares to $5.20. According to the note, the broker has increased its earnings estimates to reflect higher thermal coal price forecasts. This is expected to underpin big dividends in the near term. In addition, Morgans sees scope for Whitehaven Coal's shares to rise even further than its price target if coal prices remain stronger for longer. The Whitehaven Coal share price is trading at $4.51 today.
