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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Hub24 Ltd (ASX: HUB)
According to a note out of Bell Potter, its analysts have retained their buy rating on this investment platform provider's shares with an improved price target of $66.50. Bell Potter has been updating its funds under administration (FUA) assumptions to reflect recent market conditions. Next week, the broker is expecting Hub24 to report quarterly net fund inflows of $3.5 billion for the three months ended 30 September. This includes an estimated $600 million institutional flow from EQT. This would leave Hub24's Platform FUA at $92.1 billion, which is already within management's FY 2025 guidance range of $92 billion to $100 billion after just one quarter. The Hub24 share price is trading at $60.18 on Monday.
Light & Wonder Inc (ASX: LNW)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this game developer's shares with an improved price target of $165.00. The broker believes that the selloff of Light & Wonder's shares following the Dragon Train injunction has created a buying opportunity for investors. It notes that channel checks underscore its view that Light & Wonder can make meaningful progress in converting the Dragon Train install base. Meanwhile, its review of quarterly industry data showed that the company's core and leased game performance held strong, US slot gross gaming revenue has remained elevated, and US iGaming revenue continued to grow, up 34% year on year. Importantly for Light & Wonder, its SciPlay games held top grossing positions. The Light & Wonder share price is fetching $137.01 at the time of writing.
SKS Technologies Group Ltd (ASX: SKS)
Analysts at Morgans have initiated coverage on this advanced electrical technology solutions provider's shares with an add rating and $1.80 price target. The broker believes the SKS Technologies is well-placed to benefit from rising demand within the rapidly expanding data centre market. Investment trends across key operators NextDC, Infratil, and AirTrunk point to a ~1.4-5.1x increase in installed megawatt (MW) capacity versus current levels. Morgans believes this is supportive of ~3-5 years of activity tailwinds. It appears confident this will support management's guidance for revenue growth of 90% to $260 million in FY 2025, which the broker believes will drive EBITDA growth of 125%+. The SKS Technologies share price is trading at $1.44 today.
