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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Accent Group Ltd (ASX: AX1)
According to a note out of Goldman Sachs, its analysts have retained their buy rating on this footwear retailer's shares with a trimmed price target of $2.80. The broker believes that Accent and its numerous retail brands are relatively protected in the context of a slowing discretionary spending environment. This is due to its defensive category mix, exposure to a stable of high growth global brands, and potential upside to margins from vertical and distributed brands. The Accent share price is trading at $1.81 this afternoon.
Aeris Resources Ltd (ASX: AIS)
A note out of Macquarie reveals that its analysts have initiated coverage on this copper miner's shares with an outperform rating and 70 cents price target. It sees the company as a great option for investors seeking copper exposure now that OZ Minerals has been taken over. Particularly given its strong production growth outlook. The Aeris Resources share price is fetching 45 cents on Monday.
Lottery Corporation Ltd (ASX: TLC)
Analysts at Citi have initiated coverage on this lottery company's shares with a buy rating and $5.70 price target. While the broker acknowledges that lottery earnings can be volatile depending on the number of large jackpots, it notes that these earnings are defensive over time and have no correlation to the business cycle. It also feels that the market underestimates the uplift to the contribution margin following the increase in the commission rate and cut to third party digital commissions. The Lottery Corp share price is trading at $4.96 today.
