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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Champion Iron Ltd (ASX: CIA)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $6.90 price target on this iron ore miner's shares. The broker likes Champion Iron due to the doubling of its production of high grade iron ore to 16Mtpa and strong free cash flow ramp-up from FY 2023. In addition, it highlights that the company's shares trade at an attractive 0.85x net asset value. The Champion Iron share price is trading at $6.04 on Monday afternoon.
Lovisa Holdings Ltd (ASX: LOV)
A note out of UBS reveals that its analysts have upgraded this fashion jewellery retailer's shares to a buy rating with an improved price target of $29.00. The broker was impressed with Lovisa's trading update and notes that it is outperforming peers. UBS was also pleased to see the company's global expansion has continued, with several new markets about to be entered. All in all, UBS has upgraded its earnings estimates meaningfully and lifted its valuation accordingly. The Lovisa share price is fetching $24.45 today.
NIB Holdings Limited (ASX: NHF)
Analysts at Morgans have retained their add rating and lifted their price target on this health insurer's shares to $8.54. Morgans has been pleased with the company's strong start to the financial year, highlighting its solid policyholder growth and favourable claims environment. This has led to Morgans upgrading its earnings estimates for the near term. The NIB share price is trading at $7.18 this afternoon.
