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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Aroa Biosurgery Ltd (ASX: ARX)
According to a note out of Bell Potter, its analysts have retained their speculative buy rating on this medical device company's shares with an improved price target of $1.40. Bell Potter likes the company's soft tissue regeneration technology, OviTex, due to its low hernia recurrence. It notes that discussions with high-volume surgeons in the US indicate recurrence rates are under 5% across robotic inguinal, open inguinal, and ventral hernia procedures. All in all, the broker appears to believe this leaves it well-placed for strong top line growth in the coming years. The Aroa Biosurgery share price is trading at 78 cents on Monday.
Domino's Pizza Enterprises Ltd (ASX: DMP)
A note out of Citi reveals that its analysts have retained their buy rating and $84.40 price target on this pizza chain operator's shares. Citi notes that its analysis of high frequency data suggests sales growth is accelerating in Japan despite cycling tough comps. And while Europe and Australia remain weak due to cost of living pressures, it remain positive on the medium term outlook. This is due to same store sales appearing on track to turn positive and the moderation of some inflationary headwinds. The Domino's share price is fetching $63.59 this afternoon.
Lovisa Holdings Ltd (ASX: LOV)
Analysts at Morgan Stanley have retained their overweight rating and lifted their price target on this jewellery retailer's shares to $27.25. According to the note, the broker was impressed with Lovisa's performance in FY 2022 and is bullish on its outlook. Particularly given its belief that the company can open stores quicker than the market is expecting. It also sees margin expansion opportunities from price increases and operating leverage. The Lovisa share price is trading at $24.40 today.
