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 Citi, its analysts have retained their buy rating and $8.03 price target on this auto parts retailer’s shares. The broker believes that strong demand for used cars should be a boost to Bapcor. Especially given that its offering is less discretionary than many of its peers. In light of this, the broker sees potential for Bapcor to outperform expectation in FY 2023. The Bapcor share price is trading at $6.17 today.
Healius Ltd (ASX: HLS)
Another note out of Citi reveals that its analysts have upgraded this healthcare company’s shares to a buy rating but trimmed their price target on them to $4.30. While the broker acknowledges that COVID testing volumes are softening and its FY 2023 earnings are likely to fall materially year on year, it still believes recent share price weakness has created a buying opportunity for investors. Citi estimates that Healius’ shares are trading at 17x FY 2024 earnings. The broker expects this to be the first year of normal post-COVID earnings. The Healius share price is fetching $3.77 today.
REA Group Limited (ASX: REA)
Analysts at Goldman Sachs have retained their buy rating and lifted their price target on this property listing company’s shares to $167.00. This follows REA’s investor update which revealed that management is aiming to deliver double digit revenue and EBITDA growth through the cycle. This is expected to be underpinned by 10%+ yield growth. Goldman was pleased with the update and has upgraded its earnings to reflect its stronger yield outlook. The REA share price is trading at $110.88 this afternoon.