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:
Airtasker Ltd (ASX: ART)
A note out of Morgans reveals that its analysts have retained their add rating on this small jobs marketplace operator's shares with an improved price target of 53 cents. The broker was pleased with Airtasker's performance in FY 2023 given the tough macroeconomic environment. All in all, it remains positive on Airtasker and appears optimistic that it is well-placed for long-term growth. The Airtasker share price is fetching 21 cents on Monday.
Allkem Ltd (ASX: AKE)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $17.20 price target on this lithium miner's shares. This follows the broker's weekly review of lithium prices, which reveals that it continues to expect a sharp contraction in prices in the coming years. Despite this, the broker remains positive on Allkem due to its material production growth plans, which it expects to help offset weaker prices. The Allkem share price is trading at $14.44 today.
Santos Ltd (ASX: STO)
Analysts at Citi have retained their buy rating and $9.00 price target on this energy producer's shares. This follows news that the company has agreed to sell 2.6% of PNG LNG to Kumul for a headline price of US$576 million plus ~US$160 million of project finance debt. Citi expects Santos to open a data room and sell another ~5% stake, taking its total sell down to 7.6%-10% depending on if Kumul exercises its option to a further 2.4% stake. The broker highlights that this is a tier 1 asset that should garner material interest in a data room. This also comes at a time when bid-ask spreads have narrowed in the industry. The Santos share price is trading at $7.92 this afternoon.
