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:
Beach Energy Ltd (ASX: BPT)
According to a note out of Bell Potter, its analysts have retained their buy rating on this energy producer's shares with a trimmed price target of $1.90. This follows the release of a quarterly update which fell short on production but beat on sales volumes. Bell Potter remains very positive on the company due to its favourable view on the Australian east coast gas and LNG markets and its strong earnings growth outlook. The Beach Energy share price is trading at $1.63 today.
Paladin Energy Ltd (ASX: PDN)
A note out of Citi reveals that its analysts have upgraded this uranium producer's shares to a buy rating with an improved price target of $1.45. The broker made the move in response to the company's quarterly update and higher uranium price assumptions. It has lifted the latter to reflect ongoing mine development issues in Africa and Kazakhstan. The Paladin Energy share price is fetching $1.21 on Monday.
ResMed Inc (ASX: RMD)
Analysts at Goldman Sachs have reiterated their buy rating on this sleep treatment company's shares with an improved price target of $33.50. The broker was impressed with ResMed's quarterly update and remains very bullish on its outlook. In light of this, its continues to see asymmetric upside risk at current valuations. The ResMed share price is currently trading at $28.58.
