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:
Boss Energy Ltd (ASX: BOE)
According to a note out of Macquarie, its analysts have retained their outperform rating and $6.00 price target on this uranium miner's shares. Macquarie was pleased with the company's performance during the first half, noting that its underlying result was in line with expectations and its reported result smashed estimates. The broker is feeling positive about the future thanks to the restart of the Honeymoon project and its organic growth optionality. In addition, it highlights that spot prices are currently trading well above its forecasts. This could be good news for its earnings and valuation if they remain at these levels for longer. The Boss Energy share price is trading at $4.83 today.
Hub24 Ltd (ASX: HUB)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $44.00 price target on this investment platform provider's shares. Morgan Stanley has picked out the company as a standout from last month's earnings season. It has been impressed with the way HUB24 has disrupted the platform market and believes there's more to come in the future. Particularly given its expectation that the structural tailwinds it has been experiencing will continue. The broker also points out that it trades at a discount to its ASX listed rival despite stronger platform inflows. The HUB24 share price is fetching $40.36 on Monday.
Perpetual Ltd (ASX: PPT)
Analysts at Bell Potter have retained their buy rating on this fund manager's shares with a trimmed price target of $27.15. The broker is feeling positive about Perpetual's strategic review and believes it could be used to either close the valuation discount or become an acquisition target. The latter is based on the company owning attractive and valuable assets (particularly Corporate Trust and Wealth Management in the current environment). Overall, the broker feels that the market is not seeing the full value of the company, noting that it trades at a wide discount to a sum-of-the-parts valuation. The Perpetual share price is trading at $24.43 this afternoon.
