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 that leading brokers have named as buys this week are listed below. Here's why they are bullish on them:
IDP Education Ltd (ASX: IEL)
According to a note out of Credit Suisse, its analysts have initiated coverage on this language testing and student placement company's shares with an outperform rating and $35.50 price target. The broker likes the company due to its defensive earnings and exposure to structural growth markets. The latter is expected to be supported by the growing middle class in Asia. The IDP Education share price is trading at $27.98 today.
Global Lithium Resources Ltd (ASX: GL1)
A note out of Macquarie reveals that its analysts have retained their outperform rating on this lithium developer's shares with a trimmed price target of $3.60. This follows the release of its latest drilling update, which points to a large north-eastern extension of the existing Manna Deposit. Macquarie was pleased with the update and has only trimmed its valuation to account for a probable equity funding package to support project development. The Global Lithium share price is fetching $1.32 this afternoon.
Woolworths Group Ltd (ASX: WOW)
Analysts at Citi have retained their buy rating and $42.20 price target on this retail giant's shares. The broker is feeling relatively positive on consumer spending and has boosted its earnings estimates marginally to reflect this. Citi is forecasting earnings per share growth of approximately 14% in both FY 2023 and FY 2024. The Woolworths share price is trading at $36.22 on Tuesday.
