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:
Iluka Resources Limited (ASX: ILU)
According to a note out of Credit Suisse, its analysts have upgraded this mineral sands and rare earths miner's shares to an outperform rating with a $10.00 price target. This broker was pleased enough with Iluka's quarterly production and the strong prices it received. And while Credit Suisse has some small doubts over its production guidance, it isn't enough to stop it from upgrading its shares. Particularly given its catalyst-rich schedule which it feels could drive its shares higher. The Iluka share price is trading at $8.68 on Monday.
Macquarie Group Ltd (ASX: MQG)
A note out of Morgans reveals that its analysts have retained their add rating on this investment bank's shares with a trimmed price target of $214.30. This follows the release of a first half result which revealed a stronger than expected profit. Overall, Morgans highlights that Macquarie is a quality franchise, well exposed to structural growth areas, and is managing a more difficult FY 2023 environment well. The Macquarie share price is fetching $169.15.
ResMed Inc. (ASX: RMD)
Another note out of Morgans reveals that its analysts have retained their add rating on this sleep treatment company's shares with a slightly lower price target of $37.00. Morgans was pleased with ResMed's quarterly update, highlighting that its first quarter result was better than expected. So, with supply chain pressures easing, the broker believes that ResMed's outlook is very positive. The ResMed share price is trading at $33.98 on Monday afternoon.
