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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Accent Group Ltd (ASX: AX1)
According to a note out of Citi, its analysts have upgraded this footwear retailer's shares to a buy rating with an improved price target of $2.57. This follows the release of the company's half year results last week. Citi was pleased with the results and particularly the improvements in its sales performance so far in the second half of FY 2025. It also highlights that the company's store network has been growing at a quicker than expected rate and believes that cost reductions will start to show in the second half and support a strong full year result in August. The Accent share price is trading at $2.06 on Monday afternoon.
Codan Ltd (ASX: CDA)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this metal detector company's shares with an improved price target of $18.50. The broker notes that Codan delivered a half year result that ahead of consensus estimates thanks to strength in the Comms and Metal Detection segments. And while Codan is guiding to revenue growth of >15% for the full year, Goldman believes this is conservative and expects the company to outperform it. In fact, the broker estimates that Codan will achieve revenue growth of 23% for FY 2025. This is expected to lead to full year net profit after tax of $100 million. And with Goldman expecting increases to $123 million in FY 2026 and then $144 million in FY 2027, it feels that its shares are still good value at 29x forward earnings. The Codan share price is fetching $16.27 at the time of writing.
Telix Pharmaceuticals Ltd (ASX: TLX)
Analysts at Bell Potter have upgraded this radiopharmaceuticals company's shares to a buy rating with a vastly improved price target of $36.00. According to the note, the broker highlights that Telix delivered earnings 14% below consensus estimates during FY 2024. However, it is willing to overlook this due to its "glowing" outlook. This is being driven by a combination of acquisitions, organic growth, and product launches. The key Illuccix product will be important and is forecast to deliver revenue growth of 24% to $1 billion in FY 2025. All in all, Bell Potter points out that Telix remains laser focussed on accelerating its extensive clinical pipeline to market and will continue to spend aggressively through 2027 in order to achieve this goal. The Telix share price is trading at $30.19 this afternoon.
