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:
CSL Ltd (ASX: CSL)
According to a note out of Macquarie, its analysts have retained their outperform rating on this biotherapeutics giant's shares with an improved price target of $330.00. Macquarie highlights that the CSL share price has underperformed over the last 12 months. Its analysts blame this on a slower than expected improvement in the company's gross margin. Nevertheless, Macquarie believes investors should be taking advantage of this weakness. Particularly given its belief that the key CSL Behring business is well-positioned to deliver strong earnings growth over the coming years. In fact, the broker suspects that this growth could help drive its shares beyond the $500 mark by 2027. The CSL share price is trading at $281.04 on Monday.
Mader Group Ltd (ASX: MAD)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $7.60 price target on Mader's shares. It is a leading provider of specialised contract labour for maintenance of heavy mobile equipment in the resources and civil industries. The broker is feeling so positive about the company that it has added it to its favoured list this month. Its analysts note that their very positive earnings outlook is underpinned by the ongoing expansion of the company's core service offerings into new, large markets. This includes the United States and Canadian mining and energy sectors. The Mader share price is fetching $5.92 on Monday afternoon.
Suncorp Group Ltd (ASX: SUN)
Analysts at Morgans have retained their add rating on this insurance and banking giant's shares with an improved price target of $17.30. This follows news that Suncorp has agreed to sell its NZ Life insurance business, Asteron Life, to Resolution Life for a total of NZ$410 million (A$375 million). This comprises an upfront payment of NZ$250 million (A$223 million) at completion and the remainder due 18 months after completion. The broker supports this decision and, together with the sale of its banking operations, points out that this will mean Suncorp become a pureplay general insurer. The Suncorp share price is trading at $16.35 at the time of writing.
