With so many shares to choose from on the Australian share market, 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:
Cettire Ltd (ASX: CTT)
According to a note out of Bell Potter, its analysts have upgraded this e-commerce company's shares to a buy rating with a trimmed price target of $4.00. This follows the release of a trading update from the online luxury products seller last week. While the update revealed explosive quarterly sales growth that was 14% ahead of Bell Potter's expectations, it was disappointed with its adjusted EBITDA margin. In light of this, it has revised its earnings expectations and valuation accordingly. One positive, though, is the company's plan to launch in China very soon. It notes that this is planned for the fourth quarter, which is ahead of its expectations. The Cettire share price is trading at $3.20 on Monday.
Endeavour Group Ltd (ASX: EDV)
A note out of Morgan Stanley reveals that its analysts have upgraded this drinks giant's shares to an overweight rating with an improved price target of $6.40. The broker made the move on valuation grounds, believing that its shares are trading on undemanding multiples at present. In addition, the broker is forecasting improving earnings from the Hotels business and expects the Dan Murphy's and BWS businesses to continue their domination of the retail market. The Endeavour share price is fetching $5.32 on Monday afternoon.
IDP Education Ltd (ASX: IEL)
Analysts at Goldman Sachs have reiterated their buy rating on this language testing and student placement company's shares with a trimmed price target of $25.30. The broker has revised its earnings estimates lower through to FY 2026 in response to recent industry feedback, regulatory changes, and data points. However, it feels this is already priced in by the market and is still forecasting solid earnings growth over the coming years. Looking longer term, Goldman highlights that IDP Education's structural growth outlook and business quality remain unchanged. In light of this, and with its shares trading on near all-time lows valuation multiples, the broker thinks now is a great time to make an investment. The IDP Education share price is trading at $16.06 at the time of writing.
