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:
Harvey Norman Holdings Limited (ASX: HVN)
According to a note out of Citi, its analysts have retained their buy rating and $4.60 price target on this retailer's shares. While Harvey Norman's update showed that trading conditions are tough, the broker believes things will bottom out this year. After which, it expects rising house prices and tax cuts to make things easier in FY 2025. The broker was also pleased with the surprise share buyback. The Harvey Norman share price is trading at $3.67 today.
ResMed Inc. (ASX: RMD)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this sleep treatment company's shares with a trimmed price target of $32. Goldman felt that ResMed's quarterly update was a touch mixed. However, it was very pleased to see that gross margins have stabilised. Outside this, the broker believes the perceived downside risk from GLP-1 (Ozempic etc) has been over-capitalised. The ResMed share price is fetching $21.72 on Monday.
Westpac Banking Corp (ASX: WBC)
Analysts at Morgans have retained their add rating on this banking giant's shares with a reduce price target of $21.61. While the broker acknowledges that Westpac's near-term performance may underwhelm, it believes that its capital position is strong enough to at least maintain its dividends and even support buybacks. The Westpac share price is trading at $20.50 today.
