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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Jumbo Interactive Ltd (ASX: JIN)
According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this lottery ticket seller's shares to $17.50. Although Jumbo fell short of Morgans' earnings estimates in FY 2022, it believes post-announcement share price weakness has created an attractive entry point for investors. Particularly given the company's positive long term outlook thanks to the shift online and its large opportunity as a software-as-a-service provider. The Jumbo share price is trading at $13.03 today.
Rio Tinto Limited (ASX: RIO)
A note out of Citi reveals that its analysts have retained their buy rating but cut their price target on this mining giant's shares to $120.00. Although Citi wasn't overly impressed with Rio Tinto's second quarter performance, it sees plenty of value and double-digit dividend yields on offer with its shares. In light of this, the broker holds firm with its positive rating. The Rio Tinto share price is trading at $95.11 on Monday afternoon.
WiseTech Global Ltd (ASX: WTC)
Analysts at Ord Minnett have retained their buy rating but trimmed their price target on this logistic solutions company's shares to $50.50. The broker believes that the company's upgraded earnings guidance highlights its successful focus on costs amid slowing container volumes. And while it acknowledges that moderating global container volumes could be a headwind, Ord Minnett sees further cost saving opportunities with the company's legacy platforms. The WiseTech share price is trading at $46.95 today.
