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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Collins Foods Ltd (ASX: CKF)
According to a note out of Morgan Stanley, its analysts have initiated coverage on this quick service restaurant operator's shares with an outperform rating and $14.20 price target. The broker is positive on the KFC restaurant operator due to its belief that it has defensive qualities that will serve it well in the current environment. So much so, the broker is forecasting strong earnings per share growth through to FY 2026. The Collins Foods share price is trading at $11.99 on Monday.
Domino's Pizza Enterprises Ltd (ASX: DMP)
In addition, Morgan Stanley has retained its outperform rating on this pizza chain operator's shares with an improved price target of $70. Its analysts highlight that the consensus view is that its margins are now structurally lower versus pre-COVID levels. However, the broker doesn't agree and believes Domino's still has a path to margin recovery. All in all, it believes that the company's FY 2024 performance could be an inflection point for key share price drivers. The Domino's share price is fetching $56.37 today.
QBE Insurance Group Ltd (ASX: QBE)
Analysts at Goldman Sachs have retained their buy rating on this insurance giant's shares with a slightly trimmed price target of $18.52. Goldman has been previewing QBE's FY 2023 results and believes a strong one is coming. It is expecting its adjusted cash net profit after tax to more than double to US$1,386 million. Looking ahead, the broker is positive on its outlook and expects earned premium rates to continue to be well ahead of underlying inflation against a backdrop of moderating reinsurance pressures and perils. The QBE share price is trading at $15.11 this afternoon.
