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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Citi, its analysts have retained their buy rating on this gaming technology company's shares with an improved price target of $53.00. The broker has been busy running the rule over Aristocrat's half year results and potential divestment plans. The broker remains as positive as ever on the company's outlook, particularly in North America. It also continues to see value in offloading its digital assets, which are undergoing a strategic review. Citi believes the assets, which lack any real synergies with the rest of the business, could be sold for around $2 billion. These funds could then underpin another sizeable capital management program. The Aristocrat Leisure share price is trading at $47.31 on Monday afternoon.
James Hardie Industries plc (ASX: JHX)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $65.00 price target on this building materials company's shares. The broker is feeling confident ahead of the release of the company's FY 2024 results this week. Morgan Stanley believes that price increases at the start of the year will have helped offset higher input costs. Combined with improving volumes, the broker believes that James Hardie's margins will be strong for the fourth quarter and that the market will respond positively to this. The James Hardie share price is fetching $54.75 today.
Regis Healthcare Ltd (ASX: REG)
Analysts at Macquarie have retained their outperform rating on this aged care operator's shares with a significantly improved price target of $5.50. The broker has been updating its financial model to reflect the final recommendations from the Aged Care Taskforce report. These recommendations are designed to support an aged care system that is sustainable, fair, and facilitates greater innovation in the sector. Macquarie believes the recommendations are very favourable for Regis Healthcare. So much so, the broker has lifted its earnings estimates materially through to 2028. This has given its valuation a very big boost. The Regis Healthcare share price is trading at $4.12 this afternoon.
