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:
Aristocrat Leisure Limited (ASX: ALL)
Analysts at Morgans have retained their add rating on this gaming technology company's shares with a significantly improved price target of $67.00. The broker has increased its valuation after updating its earnings forecasts to reflect strong industry data and feedback. Morgans highlights that the company's iGaming business is outperforming expectations and believes that its digital business, Pixel United, is performing to expectations. This is a positive for investors given recent trends from this side of its business. The Aristocrat share price is trading at $62.12 on Monday.
CSL Ltd (ASX: CSL)
According to a note out of Citi, its analysts have retained their buy rating and $345.00 price target on this biotechnology company's shares. The broker highlights that rival Takeda Pharmaceutical Co Ltd (NYSE: TAK) has just released its quarterly update and revealed a strong increase in immunoglobulin products revenue over the prior corresponding period. Citi notes that this performance was in line with its expectations and believes it bodes well for CSL's performance during the first half of FY 2025. In fact, it feels that Takeda's quarter supports its view that CSL will outperform the market's expectations for immunoglobulin and albumin sales during the half. In light of this, it continues to rate CSL as a buy and sees plenty of value in its shares at current levels. The CSL share price is fetching $284.89 at the time of writing.
Nickel Industries Ltd (ASX: NIC)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this nickel producer's shares with a trimmed price target of $1.43. This follows the release of Nickel Industries' quarterly update. Overall, Bell Potter believes this was a positive quarter with nickel pig iron (NPI) production down marginally on prior quarters but offset by increased production of higher margin Mixed Hydroxide Precipitate. Outside this, the broker likes Nickel Industries because it is one of the world's largest listed nickel producers and offers exposure across a range of nickel products and markets. It also notes that the company offers attractive production and margin growth in 2025, unfranked dividends, and trades on undemanding forward valuation multiples. The Nickel Industries share price is trading at 91.7 cents at the time of writing.
