With so many shares to choose from on the ASX, it can be difficult 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:
Collins Foods Ltd (ASX: CKF)
According to a note out of Citi, its analysts have initiated coverage on this quick service restaurant operator's shares with a buy rating and $12.80 price target. The broker believes that Collins Foods' operating earnings can nearly double between now and FY 2031. This is expected to be driven by the rollout of KFC in the Netherlands and Australia. The Collins Foods share price is trading at $10.34 on Monday afternoon.
Dicker Data Ltd (ASX: DDR)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $10 price target on this computer hardware and software developer's shares. This follows the release of the company's half-year update last week. While Dicker Data's revenue was softer than expected, its margins were much stronger than the broker anticipated. In light of this, Morgan Stanley feels the company is on track to achieve its earnings estimates in FY 2023. The Dicker Data share price is fetching $8.11 today.
ResMed Inc. (ASX: RMD)
Another note out of Citi reveals that its analysts have retained their buy rating on this sleep treatment company's shares with a trimmed price target of $39. While the broker was disappointed with ResMed's margin recovery, it was pleased with its strong top-line growth. And with management expecting its margins to improve in FY 2024, Citi remains positive on ResMed and retains its buy rating. The ResMed share price is trading at $29.30 today.
