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:
Coronado Global Resources Inc (ASX: CRN)
According to a note out of Bell Potter, its analysts have retained their buy rating on this coal miner's shares with a trimmed price target of $1.65. Bell Potter believes that throughout 2024, Coronado should realise improved production volumes and subsequent cost benefits following its self-funded investment across its Australian and US operations. It expects this to lead to the generation of more consistent free cash flow and shareholder returns going forward. In addition, Bell Potter highlights a supply constrained met coal environment, which it believes will support long term prices. The Coronado Global share price is trading at $1.24 on Tuesday.
Domain Holdings Australia Ltd (ASX: DHG)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this property listings company's shares with a slightly trimmed price target of $3.75. The broker has been looking into the industry and believes that Domain's network effect remains intact. In addition, it highlights that positive operating conditions for new residential buy listings are ongoing, underpinned by low unemployment, population growth, and a stabilising outlook for interest rates. The sum of the above is Bell Potter forecasting an earnings per share compound annual growth rate of 25% between FY 2024 and FY 2026. The Domain share price is fetching $3.26 this afternoon.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at UBS have retained their buy rating on this wine giant's shares with an improved price target of $15.25. This follows news that the Chinese Ministry of Commerce (MOFCOM) has announced that tariffs on Australian wine imports into China will be reduced to nil, effective 29 March 2024. According to the note, the broker was pleased with the news and believes that Treasury Wine's shares now deserve to trade on higher earnings multiples given its larger addressable market. Its analysts have also boosted their earnings estimates for the coming years to reflect the news and higher margin assumptions for its premium wine. The Treasury Wine share price is trading at $12.74 on Tuesday afternoon.
