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:
AGL Energy Limited (ASX: AGL)
According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this energy company’s shares to $9.92. Although Morgans expects the Loy Yang A unit 2 outage to impact its earnings, it remains positive. This is due to strong tailwinds from higher prices flowing through customer contracts. In addition, the broker notes that conditions remain supportive of AGL’s legacy assets in the short to medium term. The AGL share price was trading at $8.49 on Tuesday.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
A note out of Citi reveals that its analysts have retained their buy rating and $100.95 price target on this pizza chain operator’s shares. The broker believes that data is pointing to softer traffic in key markets. However, despite this and inflationary pressures, Citi remains positive on the investment opportunity here. This is due to merger and acquisition opportunities thanks to its strong balance sheet and its expectation for a sales rebound in FY 2023. The Domino’s share price is fetching $63.68 today.
Endeavour Group Ltd (ASX: EDV)
Analysts at Macquarie have upgraded this drinks company’s shares to an outperform rating with a $7.70 price target. According to the note, the broker sees potential upside from Endeavour’s investment in its hotels. Furthermore, it feels that consumer staple stocks are the way to go in the current environment and prefers them to consumer discretionary options. The Endeavour share price is trading at $7.15 on Tuesday.