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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Ansarada Group Ltd (ASX: AND)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this deals and transaction management software company's shares to $1.90. This follows the release of a full year result that was in line with expectations. And while trading conditions have been soft early in FY 2023, Morgans believes any share price weakness should be seen as a buying opportunity. It rates Ansarada's management team, product offering, and medium term outlook highly. The Ansarada share price is trading at $1.55 today.
NextDC Ltd (ASX: NXT)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $14.00 price target on this data centre operator's shares. Morgan Stanley has been looking at potential earnings risks from higher energy prices. However, it concludes that these costs are manageable and should be able to be passed through to customers. As a result, it remains positive on the company's outlook. The NextDC share price is fetching $9.89 on Monday.
Pilbara Minerals Ltd (ASX: PLS)
Analysts at JP Morgan have upgraded this lithium miner's shares to an overweight rating with an improved price target of $4.10. The broker made the move after increasing its lithium demand outlook to reflect higher electric car penetration rate assumptions. This is being supported by government incentives. The Pilbara Minerals share price is trading at $3.68 on Monday afternoon.
