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:
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Nextdc Ltd (ASX: NXT)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $19.00 price target on this data centre operator's shares. The broker has been busy looking at quarterly results in the United States and assessing industry feedback. The good news is that both are supportive of its bullish view on NextDC. It notes that all three hyperscalers spoke of higher forward looking capex investment to support AI/cloud products. In addition, industry feedback has been constructive, noting that Australian competition is not as fierce as believed, with all operators doing well. In light of this, the broker feels confident that NextDC will deliver on its expectations when it releases its full year results this month. The NextDC share price is trading at $16.34 on Monday.
REA Group Ltd (ASX: REA)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating and $223.00 price target on this online property listings company's shares. This follows the launch of the new Luxe Listings offering to the market last month. This is an optional listing upgrade for Premiere+ customers, providing improved listings exposure and enhanced data/insights. However, it comes at a cost, with an estimated 90% premium to the standalone Premiere+ offering. While feedback is limited at present, Goldman notes that it has been positive with Luxe Listings delivering results ahead of Premiere+ across the Sydney market. The broker is encouraged by the feedback and believes it is supportive of its positive view on REA, which is underpinned by the longevity of its double-digit yield growth in Australia. The REA Group share price is fetching $193.70 at the time of writing.
ResMed Inc. (ASX: RMD)
Analysts at Macquarie have retained their outperform rating on this sleep disorder treatment company's shares with an improved price target of $36.25. This follows the release of the company's fourth quarter update last week, which was in line with the broker's expectations. In addition, it notes that its margins and guidance for FY 2025 were ahead of expectations. In light of this, Macquarie continues to see a lot of value in ResMed's shares and named it as one of its top picks in the sector. The ResMed share price is trading at $33.48 today.
