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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Austal Ltd (ASX: ASB)
According to a note out of Citi, its analysts have upgraded this shipbuilder's shares to a buy rating with a $2.31 price target. The broker was very pleased with news that Austal has won a major shipbuilding contract with the US government. It highlights that this win suggests the recent indictment of three former Austal USA employees by the US Department of Justice is not impeding Austal's ability to win work with the US Navy. The Austal share price is trading at $2.01 this afternoon.
NIB Holdings Limited (ASX: NHF)
A note out of Goldman Sachs reveals that its analysts have initiated coverage on this private health insurer's shares with a buy rating and $8.80 price target. The broker likes NIB due to its belief that it has stronger Australian resident health insurance underlying top line growth potential relative to its key rival. It also highlights that the company is taking more shareholder-friendly action to not profit from Covid-19, resulting in better reported margins. The NIB share price is fetching $8.30 today.
ResMed Inc. (ASX: RMD)
Analysts at Macquarie have retained their outperform rating and $38.00 price target on this sleep treatment focused medical device company's shares. Macquarie believes ResMed is well-placed to benefit from improved industry growth after a lull during the pandemic. In addition, due to competitor issues, the broker sees scope for the company to increase its market share in the coming years. The ResMed share price is trading at $33.79 on Monday.
