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:
BlueScope Steel Limited (ASX: BSL)
According to a note out of Citi, its analysts have upgraded this steep producer's shares to a buy rating with an improved price target of $24.00. The broker believes that BlueScope would be a better option than iron ore miners for investors right now. Particularly given its belief that construction activity in the U.S. will get a boost this year from public spending. In addition, Citi feels that President Trump's tariffs on downstream steel products would be a big positive for U.S. steel pricing. All in all, the broker feels that this positions BlueScope Steel to achieve consensus estimates in the coming years. The BlueScope Steel share price is trading at $21.39 on Monday.
Mineral Resources Ltd (ASX: MIN)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this mining and mining services company's shares with a trimmed price target of $59.60. This follows the release of a solid second quarter update from the company last week. Outside this, it sees Mineral Resources as an attractive investment over the next 12 months. This is due to a number of positive catalysts such as the ramp-up of the Onslow Iron Project, the deleveraging of its balance sheet, and new leadership that will inherit a strong set of assets and capabilities. The Mineral Resources share price is fetching $33.49 at the time of writing.
ResMed Inc. (ASX: RMD)
Analysts at Goldman Sachs have retained their buy rating on this sleep disorder treatment company's shares with an improved price target of $49.00. According to the note, the broker was pleased with ResMed's performance during the second quarter. It notes that global device sales were ~250bps higher and global masks sales broadly in line with consensus estimates. Importantly, it highlights that the strength in US devices sales (+12% vs pcp) could be early evidence that the growing awareness of Obstructive Sleep Apnoea (OSA) from the uptick in consumer wearables and GLP- 1 therapies is translating to demand for ResMed's products. The ResMed share price is trading at $38.98 today.
