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:
Catapult Group International Ltd (ASX: CAT)
According to a note out of Bell Potter, its analysts have upgraded this sports technology company's shares to a buy rating with an improved price target of $2.75. The broker has been looking at Catapult's Tactics & Coaching (Video) business and believes it could have significant potential. It notes that technology is being used in college sport in the United States. It suspects that the NFL could allow its use in the future, which could give its sales a major boost. Especially given its view that there is potential for Catapult to dominate the market at both the NFL and NCAA for sideline video over the medium term. The Catapult share price is trading at $2.42 on Monday.
Incitec Pivot Ltd (ASX: IPL)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this commercial explosives company's shares with an improved price target of $3.30. While the broker acknowledges that Incitec Pivot's fertiliser segment is likely to be pressured by further anticipated normalisation of fertiliser prices, it believes the core explosives businesses are going to benefit from tighter global nitrogen markets and domestic AN markets, particularly as it re-contracts its domestic tonnes. Another positive is that following the sale of the Waggaman Ammonia plant, the company plans to return $1 billion of capital to shareholders. Goldman notes that this will support total returns. The Incitec Pivot share price is fetching $2.99 at the time of writing.
REA Group Ltd (ASX: REA)
Analysts at Morgan Stanley have retained their overweight rating on this property listings company's shares with an improved price target of $250.00. The broker believes that the market is underestimating REA Group's growth potential, which is being underpinned by strong increases in price and yields. It also feels that last week's trading update at its annual general meeting means that it is comfortably on course to achieve the market's expectations in FY 2025. As a result, Morgan Stanley feels that now is a good time to buy the realestate.com.au operator's shares. The REA Group share price is trading at $220.18 this morning.
