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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Accent Group Ltd (ASX: AX1)
According to a note out of Morgans, its analysts have retained their add rating and $2.40 price target on this footwear retailer's shares. The broker was pleased with the company's performance in FY 2024, noting that it was in line with expectations. As a result, it feels that the selloff that followed its release was an overreaction and created a buying opportunity for investors. Particularly given the broker's expectation that Accent's earnings will recover in FY 2025 and that losses from Glue store have now been removed through store closures. The Accent share price is trading at $2.09 on Monday afternoon.
Objective Corporation Ltd (ASX: OCL)
A note out of Shaw and Partners reveals that its analysts have retained their buy rating and $14.40 price target on this content, collaboration and process management solutions provider's shares. This follows the release of the company's full year results last week. Shaw and Partners acknowledges that Objective Corp fell short of its annual recurring revenue (ARR) guidance in FY 2024. However, it points out that this was due to the timing of deals. So, with the company now expecting stronger ARR growth in FY 2025, the broker thinks investors should be looking beyond this little blip. Especially given the company's positive growth outlook and strong balance sheet. The Objective Corp share price is fetching $12.90 at the time of writing.
Universal Store Holdings Ltd (ASX: UNI)
Analysts at Bell Potter have retained their buy rating on this youth fashion retailer's shares with an improved price target of $7.80. According to the note, the broker was impressed with Universal Store's performance in FY 2024 and strong start to the new financial year. In light of this, Bell Potter has upgraded its medium to long term earnings estimates, which has driven a 17% increase in its valuation. Outside this, the broker highlights that it is positive on the company's store roll-out and brand growth strategy, and expects further gross margin expansion in the near term. Especially given how well placed it is versus peers due to its younger target demographic. The Universal Store share price is trading at $6.96 this afternoon.
