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:
Endeavour Group Ltd (ASX: EDV)
According to a note out of Goldman Sachs, its analysts have retained their buy rating on this drinks giant's shares with a reduced price target of $5.50. This follows the release of a mixed quarterly update earlier this week. Goldman notes that a disappointing performance from its Retail business was offset by a stronger than expected performance from its Hotels business. And while it has trimmed its earnings estimates to reflect lower margins from the Retail segment, the broker believes that market concern over an alcohol consumption structural decline is overdone and that market share gains will position Endeavour well for the category recovery. The Endeavour share price is trading at $4.35 on Tuesday.
Goodman Group (ASX: GMG)
A note out of Citi reveals that its analysts have retained their buy rating and $40.00 price target on this industrial property company's shares. The broker rates Goodman highly due to its focus on higher-return, higher-value turnkey developments and data centres. Citi believes these will underpin long-term growth. Particularly given that it expects demand for data centres will continue to grow and Goodman is well-placed to benefit from the trend due to its substantial pipeline. The Goodman share price is fetching $36.51 this afternoon.
Liontown Resources Ltd (ASX: LTR)
Analysts at Bell Potter have retained their speculative buy rating on this lithium miner's shares with a trimmed price target of $1.40. This follows the announcement of new production guidance for the Kathleen Valley Lithium Project to combat low lithium prices. Bell Potter notes that Liontown's FY 2025 guidance was broadly as it had modelled and expects the lower long-term throughput rate to drop Kathleen Valley's production profile by around 5%. It also highlights that on its estimates and at current spot spodumene concentrate prices, Liontown's balance sheet is supportive to the end of FY 2025. It then expects costs to improve as production approaches steady state over FY 2026 and FY 2027. The Liontown share price is trading at 88 cents at the time of writing.
