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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Abacus Group (ASX: ABG)
According to a note out of Citi, its analysts have retained their buy rating and $1.45 price target on this property company's shares. The broker was pleased to see Abacus reaffirm its distribution guidance at its annual general meeting. So, with the company's shares trading at an estimated dividend yield of 7.9% and a 49% discount to its latest disclosed NTA per share, the broker feels now is the time to buy. The Abacus share price is trading at $1.04 today.
Cosol Ltd (ASX: COS)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this asset management solutions company's shares with a $1.08 price target. While Cosol's first-half guidance was below the broker's expectations, it remains positive. It likes the company due to its growing recurring revenue and track record of successful acquisitions. The Cosol share price is fetching 84 cents on Monday.
Nine Entertainment Co Holdings Ltd (ASX: NEC)
Analysts at Goldman Sachs have retained their buy rating on this media company's shares with a reduced price target of $2.30. While margin headwinds persist, Goldman highlights that Nine is leading Metro TV and BVOD ratings in key demographics in 2023. It also notes that strong content performance for Stan is driving solid sub growth and higher average revenue per user (ARPU). This is good news given price rises in FY 2024. The Nine share price is trading at $1.93 today.
