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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Accent Group Ltd (ASX: AX1)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $1.65 price target on this footwear retailer's shares. This follows the release of a trading update which fell short of expectations. While this was disappointing, Morgan Stanley highlights that like for like sales growth has been achieved early in FY 2023. Furthermore, there have been improvements in the supply of new products. The Accent share price is trading at $1.37 today.
Coronado Global Resources Inc (ASX: CRN)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating but trimmed their price target on this coal miner's shares to $2.15. While Coronado's second-quarter update disappointed Goldman, it remains positive due to its "compelling" valuation and strong free cash flow generation. The broker expects the latter to underpin big dividends in the near term. The Coronado Global share price is fetching $1.39 on Monday afternoon.
Santos Ltd (ASX: STO)
Analysts at Citi have retained their buy rating and $8.60 price target on this energy producer's shares. According to the note, Santos missed on Citi's estimates for production and revenue in the June quarter. However, the broker was pleased to see that management has held firm with its calendar year guidance. As a result, the broker sees plenty of value in the company's shares at the current level. The Santos share price is trading at $6.99 today.
