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:
GQG Partners Inc (ASX: GQG)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $3.75 price target on this fund manager's shares. The broker is feeling very positive about GQG Partners' outlook. Particularly given its strong net inflows and the company's impressive investment performance. Combined with organic growth and its global distribution pipeline, the broker thinks that the company is the best pick in the ASX asset manager space right now. Another positive is that Morgan Stanley is forecasting dividend yields of 7%+ this year and next. The GQG Partners shares price is trading at $2.98 on Monday.
Mineral Resources Ltd (ASX: MIN)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this mining and mining services company's shares with a trimmed price target of $80.00. This follows the release of a solid quarterly update from the company last week. And while the broker has trimmed its earnings estimates (and valuation) to reflect its new (lower) iron ore and lithium forecasts, it remains very positive on Mineral Resources. It highlights that the company is establishing a very-large iron ore business that will transform its earnings base and enable future growth. Looking ahead, the broker believes significant news flow on growth plans with its FY 2024 results could give its shares a lift. This includes the development and financing options for its energy discoveries. The Mineral Resources share price is fetching $54.04 today.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at Goldman Sachs have retained their buy rating on this wine giant's shares with a trimmed price target of $14.70. According to the note, the broker has been looking at consumer stocks ahead of earnings season. It has described Treasury Wine's results as a non-event due to its tight guidance. However, it thinks that management could speak very positively about the first half of FY 2025 due to the soft comparable period and the acquisition of DAOU. And while it sees emerging short term risk in the second half from the Penfolds business, it remains positive. This is due partly to Penfolds' long term growth potential and the company's opportunity in the United States with the DAOU business. The Treasury Wine share price is trading at $12.32 this afternoon.
