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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Aristocrat Leisure Ltd (ASX: ALL)
According to a note out of Bell Potter, its analysts have initiated coverage on this gaming technology company's shares with a buy rating and $83.00 price target. The broker highlights that Aristocrat has fortified its competitive moat over the past decade by strategically targeting high-margin markets and outspending peers in design and development. Bell Potter believes this trend will continue and will underpin a 9% compound annual growth rate for continuing earnings per share through to FY 2027. In light of this, the broker believes that Aristocrat deserves its premium valuation and feels it is an attractive option for investors looking for high quality large caps. The Aristocrat share price is trading at $73.81 on Monday.
Domino's Pizza Enterprises Ltd (ASX: DMP)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $40.00 price target on this pizza chain operator's shares. This follows the release of an upbeat trading update and news that the company plans to undertake mass closures in Japan to improve profitability. Morgan Stanley is pleased with the plans and also the trading update. It notes that the latter guidance for a net profit before tax of $84 million to $86 million is a touch ahead of consensus estimates for the period. The Domino's share price is fetching $35.18 at the time of writing.
Evolution Mining Ltd (ASX: EVN)
Another note out of Bell Potter reveals that its analysts have initiated coverage on this gold miner's shares with a buy rating and $6.65 price target. According to the note, after some big investments in recent times and the passing of its peak capex spending, the broker believes that Evolution Mining will experience growing free cash flows. It expects this to de-leverage its balance sheet and support rising dividends in the coming years. Outside this, it highlights that Evolution Mining offers effectively unhedged gold and copper exposure via a portfolio of high quality, long-life assets in tier one jurisdictions. The Evolution Mining share price is trading at $5.97 this afternoon.
