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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Domain Holdings Australia Ltd (ASX: DHG)
According to a note out of Bell Potter, its analysts have retained their buy rating on this property listings company's shares with a trimmed price target of $3.50. This follows the release of a solid FY 2024 result last week. Bell Potter was pleased with its result, which was largely in line with expectations. It was also pleased to see that Domain has started the new financial year positively. In light of this, the broker remains constructive on the company's FY 2025 listings momentum, as well as potential for further depth penetration/growth in underpenetrated regions from its Audience Boost extension. The Domain share price is trading at $2.88 on Monday afternoon.
PWR Holdings Ltd (ASX: PWH)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this automotive cooling products provider's shares with a reduced price target of $11.50. Goldman notes that PWR Holdings' FY 2024 profits fell short of consensus expectations. In addition, it highlights that management has re-based investor expectations ahead of its most significant operational investment since listing. That investment is the expansion of its Australian facility. And while front-loaded costs and capital expenditures impacts mean that Goldman has reduced its near-term forecasts, it remains positive on the long-term growth potential of PWR Holdings. In fact, it considers the recent employee growth and forecast capacity expansion as a leading indicator of top-line growth expectations. As a result, it sees the post-results selloff as a buying opportunity. The PWR Holdings share price is fetching $9.41 this afternoon.
Telstra Group Ltd (ASX: TLS)
Analysts at Morgan Stanley have retained their overweight rating on this telco giant's shares with an improved price target of $4.40. According to the note, the broker was pleased to see Telstra deliver a full year result that was in line with expectations. Though, it concedes that this was largely expected given its recent trading update. It was also pleased to see management narrow its FY 2025 guidance range to the upside. Outside this, it feels that Telstra could be a winner from rate cuts given how its cost of debt has increased meaningfully in recent times. The Telstra share price is trading at $3.97 at the time of writing.
