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:
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Bellevue Gold Ltd (ASX: BGL)
According to a note out of Bell Potter, its analysts have initiated coverage on this gold miner's shares with a buy rating and $1.95 price target. The broker is positive on the company due to the high-grade Bellevue Gold Project in Western Australia. It notes that management has outlined plans to expand gold production at the project to ~250kozpa in FY 2028. It believes that if the company can deliver on this then it could underpin significant share price upside. And the good news is that Bell Potter believes the company could achieve its growth ambitions. Particularly given that there is considerable additional exploration prospectivity in extensions to structures that host the current resource, and potentially, in repeat structures, deeper in the broader Bellevue Lode system. The Bellevue Gold share price is trading at $1.27 on Monday morning.
GPT Group (ASX: GPT)
A note out of Citi reveals that its analysts have retained their buy rating and $4.90 price target on this property investment company's shares. This follows news that the company has made a 50% acquisition of two premium retail assets in Perth from Perron for $482 million. The two shopping centres offer ~119,000 square metres (sqm) of gross lettable area and a combined moving annual turnover of more than $1 billion. Citi is a fan of the deal and sees opportunities for GPT to grow its earnings from an increased focus in co-investments like this. Though, it acknowledges that the strategy will take time to evolve. The GPT share price is fetching $4.45 at the time of writing.
Iress Ltd (ASX: IRE)
Analysts at Wilsons have upgraded this financial technology company's shares to an overweight rating with an $11.00 price target. Although Iress failed to upgrade its guidance as Wilsons had been expecting, it was still pleased with the company's update. That's because it believes that it demonstrates that Iress' momentum is clear and improving, supported by equity market conditions and regulatory tailwinds. In light of this, the broker sees plenty of value on offer with its shares and has upgraded them to reflect this. The Iress share price is trading at $9.50 this morning.
