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)
According to a note out of Morgans, its analysts have retained their add rating on this gaming technology company's shares with an improved price target of $73.00. This follows the release of the company's full year results, which were slightly ahead of expectations. And while Morgans notes that the company's guidance for FY 2025 was vague, with management guiding to "positive" constant currency NPATA growth, it remains positive and has bumped its earnings estimates slightly higher. The broker also highlights that Aristocrat Leisure has noted that the strategic review into the sale of remaining non-core assets is still ongoing. This is on top of its decision to sell the Plarium business for up to US$820 million to Stockholm-listed Modern Times. The Aristocrat Leisure share price is trading at $67.53 on Monday.
IGO Ltd (ASX: IGO)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $6.20 price target on this lithium miner's shares. The broker has released its latest lithium price update and nothing has changed. It continues to forecast weaker prices for at least the next three years. However, due to IGO's low production costs, it believes it is a good option for investors. Particularly with its shares trading at a discount to peers and offering positive near term free cash flow yields. It also recently spoke positively about the Greenbushes expansion. It believes the expansion remains one of the most economically compelling brownfield lithium projects. The IGO share price is fetching $5.18 at the time of writing.
Lovisa Holdings Ltd (ASX: LOV)
Analysts at Macquarie have retained their outperform rating on this fashion jewellery retailer's shares with a trimmed price target of $34.10. According to the note, the broker believes that Lovisa has opened fewer than expected new stores since the end of FY 2024. While this is disappointing and has led to Macquarie trimming its store rollout estimates, it remains positive. This is due to its significant growth opportunity and its belief that its incoming CEO will be highly focused on growing Lovisa's earnings at a strong rate due to the way his contract is structured. The Lovisa share price is trading at $27.67 today.
