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:
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Corporate Travel Management Ltd (ASX: CTD)
According to a note out of Goldman Sachs, its analysts have retained their buy rating on this corporate travel booker's shares with an improved price target of $22.60. Goldman was pleased with the company's contract win from the UK government and has boosted its earnings estimates to reflect it. The broker now expects an EBITDA compound annual growth rate of 75% between FY 2022 and FY 2025. The Corporate Travel Management share price is trading at $21.35 today.
QBE Insurance Group Ltd (ASX: QBE)
A note out of UBS reveals that its analysts have retained their buy rating and $18.00 price target on this insurance giant's shares. While the broker has been forced to reduce its earnings estimates to reflect higher motor claims, it expects most of the damage to be offset by strong premium prices. Overall, the broker remains very positive and sees plenty of value in its shares at the current level. The QBE share price is fetching $14.78 on Monday.
Whitehaven Coal Ltd (ASX: WHC)
Analysts at Morgans have retained their add rating but trimmed their price target on this coal miner's shares slightly to $9.85. While the broker believes that persistent labour issues are likely to drag on its performance into FY 2024, it feels these issues are more than priced-in. In addition, the broker highlights that the current uptick in spot NEWC prices and in energy market sentiment could be the first ingredient to a re-rating. The Whitehaven Coal share price is trading at $6.83 today.
