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:
Champion Iron Ltd (ASX: CIA)
According to a note out of Bell Potter, its analysts have retained their buy rating on this iron ore miner's shares with an improved price target of $7.15. This follows news that the company has signed an agreement with Nippon Steel and Sojitz to form a partnership for the joint ownership and development of the Kami Project. The broker was pleased with the news. Especially given that Nippon Steel and Sojitz are highly credible Japanese entities seeking to reduce steelmaking carbon emissions. Outside this, the broker believes Champion Iron's shift into higher grade production in the second half of 2025 will likely support average realised prices and earnings amid an iron ore price environment that is generally expected to weaken. The Champion Iron share price is trading at $5.86 this morning.
GenusPlus Group Ltd (ASX: GNP)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this essential services provider's shares with an improved price target of $3.10. This follows news that GenusPlus has won a $140 million contract from Ausgrid for sub-transmission line works at the Hunter-Central Coast Renewable Energy Zone project. Bell Potter has described this contract award as material and notes that it bolsters its order book in the medium term. All in all, the broker believes that the company is positioned to deliver an earnings per share compound annual growth rate of 23% over FY 2025 to FY 2027. The GenusPlus share price is fetching $2.50 on Tuesday.
Telstra Group Ltd (ASX: TLS)
Analysts at Goldman Sachs have retained their buy rating and $4.50 price target on this telco giant's shares. This follows news that the company has agreed to sell its stake in Foxtel to DAZN Group in exchange for $128 million cash for the repayment of shareholder loans and a 3% shareholding in the media company. Goldman appears supportive of this deal and sees potential for further divestments in the future. In fact, the broker believes that Telstra has a meaningful medium term opportunity to crystallise value through monetising its InfraCo Fixed assets, which it estimates could be worth between $22 billion to $33 billion. In addition, it sees a strong rationale for monetising the recurring NBN payment stream. It feels this could be worth in the region of $14.5 billion to $17.9 billion. The Telstra share price is trading at $4.03 at the time of writing.
