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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Challenger Ltd (ASX: CGF)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $7.05 price target on this annuities company's shares. The broker was pleased with what it heard from Challenger at its IFRS17 briefing. Outside this, it likes the company due to its exposure to the growing superannuation market across Life and Funds Management and due to higher yields driving a favourable sales environment for retail annuities. The Challenger share price is trading at $5.93 on Monday.
Endeavour Group Ltd (ASX: EDV)
A note out of UBS reveals that its analysts have upgraded this drinks giant's shares to a buy rating with an improved price target of $6. The broker made the move on the belief that regulatory concerns are overdone and its shares are great value after tumbling hard over the last 12 months. The Endeavour share price is fetching $5.14 this afternoon.
South32 Ltd (ASX: S32)
Analysts at Morgans have retained their add rating on this miner's shares with a trimmed price target of $4.80. According to the note, the broker highlights that South32's shares have fallen heavily this year. It believes this is due to short-term earnings weakness. However, Morgans feels investors should be patient and sees a lot of value in its shares at current levels. The South32 share price is trading at $3.14 today.
