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:
Goodman Group (ASX: GMG)
According to a note out of Morgans, its analysts have initiated coverage on this industrial property company's shares with an add rating and $24.00 price target. The broker believes that Goodman is well-positioned for growth due to operating in a sub-sector that continues to benefit from increased demand from end users. All in all, the broker expects Goodman to continue to grow its assets under management at a nice rate in the coming years. The Goodman share price is trading at $20.24.
Paladin Energy Ltd (ASX: PDN)
A note out of Bell Potter reveals that its analysts have retained their speculative buy rating and 99 cents price target on this uranium developer's shares. With the Namibian government confirming that it will not be seeking a stake in existing mines, the broker feels that risks have been lifted and a re-rating could be in order. Particularly now that investors can focus purely on the restart of Langer Heinrich uranium mine. The Paladin Energy share price is fetching 66 cents this afternoon.
Rio Tinto Ltd (ASX: RIO)
Analysts at Goldman Sachs have reiterated their conviction buy rating and $136.10 price target on this mining giant's shares. Goldman has visited several mining sites in North America, including Rio Tinto's Resolution mine site near the town of Superior. Goldman is very positive on the development. And while it is still a long way off producing its first copper, the broker highlights that when it does, there will be synergy opportunities with its Kennecott operation. It also highlights that Resolution negates the need for Rio Tinto to spend big on copper M&A in the future. The Rio Tinto share price is trading at $111.82.
