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:
ARB Corporation Ltd (ASX: ARB)
According to a note out of Citi, its analysts have upgraded this 4×4 auto parts company's shares to a buy rating with a $35.18 price target. The broker was pleased with ARB's update at its annual general meeting. It believes the Australian aftermarket to be more resilient than previously expected thanks to increased fleet work, workshops being booked out for months, and normalising OEM supply. The ARB share price is trading at $31.38 today.
Treasury Wine Estates Ltd (ASX: TWE)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $13.40 price target on this wine giant's shares. This follows news that China could be close to removing its tariffs on Australian wine. Goldman highlights that at its peak, Penfolds exported an estimated ~600K bottles ($400 million value) to China. The Treasury Wine share price is fetching $11.94 on Monday.
Woolworths Group Ltd (ASX: WOW)
Analysts at UBS have retained their buy rating and $43 price target on this supermarket giant's shares. The broker is feeling confident ahead of Woolworths' first quarter update later this week. It is expecting the company to report sales growth of almost 5% over the prior corresponding period. In light of this, it continues to see plenty of value in its shares at the current level. The Woolworths share price is trading at $36.85 this afternoon.
