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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Dicker Data Ltd (ASX: DDR)
According to a note out of Citi, its analysts have initiated coverage on this computer hardware and software distributor's shares with a buy rating and $12.90 price target. The broker believes we are approaching the bottom of the cycle for computer hardware and expects Dicker Data to benefit greatly when the tide turns. So much so, Citi sees scope for the company's earnings to grow at a double-digit rate over the medium term. The Dicker Data share price is trading at $11.50 on Monday.
Inghams Group Ltd (ASX: ING)
A note out of Macquarie reveals that its analysts have upgraded this poultry producer's shares to an outperform rating with a $4.20 price target. This follows a first-half result which was largely in line with expectations. Looking ahead, the broker feels that Inghams is well-placed for the future thanks to its efficiency programs and sees upside risk to margin assumptions. The Inghams share price is fetching $3.57 this afternoon.
QBE Insurance Group Ltd (ASX: QBE)
Analysts at Goldman Sachs have retained their buy rating on this insurance giant's shares with an improved price target of $18.65. The broker was pleased with QBE's FY 2023 result and remains very positive on the company's outlook. Particularly given management's clear focus on combined operating ratio improvement and its strong return on equity. The QBE share price is trading at $16.66 today.
