Given how 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 that leading brokers have named as buys this week are listed below. Here's why they are bullish on them:
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Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Citi, its analysts have retained their buy rating and $41.20 price target on this gaming technology company's shares. The broker notes that digital bookings showed signs of rebasing in November. Citi sees this as a positive, particularly given that its Pixel United business continues to outperform peers. Outside this, the broker continues to view Aristocrat's land-based business as well positioned and remains optimistic on the real money gaming opportunity. The Aristocrat share price is trading at $33.69 this afternoon.
BHP Group Ltd (ASX: BHP)
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this mining giant's shares to $50.00. Macquarie made the move after lifting its estimates to reflect stronger than expected iron ore prices. However, based on current spot prices, these estimates could yet prove conservative. Macquarie's current estimates imply the payment of a fully franked 6.1% dividend yield in FY 2023. The BHP share price is currently fetching $47.00.
HMC Capital Ltd (ASX: HMC)
Analysts at Morgans have retained their add rating on this property development company's shares with a trimmed price target of $5.85. Morgans highlights that HMC's shares haven fallen heavily due to weakness in the REIT sector this year. It feels that this has created a buying opportunity. The broker points out that it has a capital light business model and a track record for executing on complex deals. The HMC share price is trading at $4.46 on Monday.
