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:
Cleanaway Waste Management Ltd (ASX: CWY)
According to a note out of Morgans, its analysts have upgraded this waste management company's shares to an add rating with an improved price target of $2.95. This follows news that Cleanaway Waste Management has signed a deal to acquire Contract Resources for $377 million. The broker believes the debt funded deal is attractive and highlights that it is expected to be earnings per share accretive. As a result, the broker has boosted its earnings estimates to reflect this. Though, it is worth remembering that the transaction remains subject to ACCC approval. This is targeted for late 2025. The Cleanaway Waste Management share price is trading at $2.64 on Monday.
Woodside Energy Group Ltd (ASX: WDS)
Another note out of Morgans reveals that its analysts have retained their add rating on this energy giant's shares with a trimmed price target of $30.10. The broker has been busy updating its estimates to reflect its oil and gas assumptions. While Morgans has lifted its LNG earnings, this is quickly offset by softer oil earnings. In addition, with President Trump back in power, the broker isn't expecting strong oil prices. Nevertheless, it remains very positive on Woodside and believes its shares are being seriously undervalued by the market. The Woodside share price is fetching $22.94 this morning.
Woolworths Group Ltd (ASX: WOW)
Analysts at Goldman Sachs have retained their buy rating and $36.10 price target on this supermarket giant's shares. This follows the release of the ACCC's supermarkets inquiry final report. Goldman highlights that the final report included 20 recommendations by the competition regulatory. However, on an initial read, the broker does not expect these recommendations to have a material impact on the existing operations for Woolworths given its significant focus on supply chains and trading arrangements. Given the few surprises in this report, the broker believes it will reduce the regulatory overhang for Woolworths shares, which has weighed on investor sentiment over the last 14 months. Though, it does concede that the company is not fully out of the woods just yet. There are separate proceedings in the Federal Court against it for allegedly misleading consumers with discounting pricing practices. Nevertheless, it has suggested previously that this risk is built into its valuation. The Woolworths share price is trading at $29.66 today.
