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:
BHP Group Ltd (ASX: BHP)
According to a note out of Morgans, its analysts have retained their add rating on this mining giant's shares with a trimmed price target of $48.00. This follows the release of the Big Australian's first quarter update last week. Morgans felt that BHP delivered a strong operational performance during the three months, which it feels creates material risk to the upside. Especially given its belief that the company is positioned to benefit from a recovery in the mining sector, which it suspects will be driven by improving global growth. In light of this, Morgans continues to see significant value on offer with the miner's shares, even after trimming its valuation slightly in this note. The BHP share price is trading at $42.58 at the time of writing.
CSL Ltd (ASX: CSL)
A note out of Bell Potter reveals that its analysts have initiated coverage on this biotechnology giant's shares with a buy rating and $345.00 price target. Although the broker feels that trading conditions could be relatively tough for the CSL Vifor and CSL Seqirus businesses, it expects this to be offset by strong growth from the key CSL Behring business. Given how much larger the latter business' contribution to earnings is, Bell Potter believes that CSL is destined to deliver double-digit earnings growth in the coming years. So, with its shares looking undervalued compared to historical multiples, the broker feels that now is a good time to invest. The CSL share price is fetching $303.36 on Monday.
Flight Centre Travel Group Ltd (ASX: FLT)
Analysts at Macquarie have retained their outperform rating on this travel agent giant's shares with a reduced price target of $23.34. According to the note, the broker was disappointed with the company's trading update last week, which revealed that airfare deflation is weighing on its performance. In response to the update, Macquarie has reduced its total transaction value (TTV) growth estimate markedly for FY 2025. Nevertheless, it remains positive on the company and its medium term outlook. As a result, it appears to believe that last week's selloff has created a buying opportunity for investors. The Flight Centre share price is currently trading at $17.44.
