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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QBE Insurance Group Ltd (ASX: QBE)
According to a note out of Morgans, its analysts have retained their add rating on this insurance giant's shares with a trimmed price target of $16.50. This follows the release of a mixed quarterly update at the end of last week. While the broker was pleased to see QBE's gross written premium growth guidance lifted, higher claims have weighed on its combined operating ratio. Nevertheless, the broker was pleased with underlying trends and remains positive on its outlook. The QBE share price is trading at $14.74 today.
REA Group Ltd (ASX: REA)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating on this property listings company's shares with a trimmed price target of $159.00. This follows the release of a mixed quarterly update from the realestate.com.au operator. While cost pressures and listing headwinds in Melbourne and Sydney are weighing on its performance, the broker was pleased with its FY 2024 ad yield outlook, which was more robust than it was expecting thanks to Premiere pricing. The REA share price is fetching $135.94 today.
Technology One Ltd (ASX: TNE)
Analysts at Bell Potter have upgraded this enterprise technology company's shares to a buy rating with an improved price target of $17.00. The broker believes Technology One is well-placed to deliver a strong half-year result this month. Pleasingly, more of the same is expected in the coming years. So much so, the broker suspects that the company may need to upgrade its medium term guidance in the near future. The Technology One share price is trading at $14.79 on Monday.
