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:
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Goodman Group (ASX: GMG)
According to a note out of Morgans, its analysts have retained their add rating on this industrial property company's shares with an improved price target of $24.50. This follows the release of yet another solid full-year result from Goodman. And while the broker acknowledges that its shares are not cheap, it feels they deserve to trade at a premium due to the quality of the company, its industry leadership, and positive outlook. The Goodman share price is trading at $22.55 on Monday.
Sonic Healthcare Ltd (ASX: SHL)
Another note out of Morgans reveals that its analysts have retained their add rating on this healthcare company's shares with a trimmed price target of $36.55. Unlike Goodman, Morgans feels that Sonic delivered a mixed result in FY 2023. Nevertheless, the broker notes that Sonic is accelerating the reduction in legacy pandemic costs. Combined with other near/medium-term growth initiatives, the broker feels this leaves the company well-placed for the future. The Sonic share price is fetching $32.22 this afternoon.
Telstra Group Ltd (ASX: TLS)
Analysts at Morgan Stanley have retained their overweight rating and $4.75 price target on this telco giant's shares. The broker acknowledges that the market has been disappointed with the company's decision to retain its InfraCo business instead of divesting it. However, it feels that this is a good decision and makes strategic sense. In light of this, the broker appears to believe that post-result share price weakness has created a buying opportunity. The Telstra share price is trading at $4 today.
