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:
Liontown Resources Ltd (ASX: LTR)
According to a note out of Bell Potter, its analysts have retained their speculative buy rating and 90 cents price target on this lithium miner's shares. The broker was pleased with Liontown's continued strong performance at the Kathleen Valley Lithium Project. It highlights that the company achieved spodumene concentrate production of 96kt and sales of 94kt. The latter was ahead of its estimate of 89kt. Another positive was that Kathleen Valley's unit operating costs were US$512 per dmt, which was lower than the US$562 per dmt Bell Potter was expecting. Overall, the broker remains positive on Liontown and believes the Kathleen Valley project is highly strategic in terms of scale, long project life and location in a tier-one mining jurisdiction. The Liontown share price is trading at 56 cents on Monday.
REA Group Ltd (ASX: REA)
Another note out of Bell Potter reveals that its analysts have retained their buy rating and $264.00 price target on this property listings company's shares. Ahead of the Australian election, the broker feels that policy risks are skewed to the upside for price and volume. It highlights that increasing accessibility for home ownership (demand) against relatively static supply is likely to be supportive for an increase in house prices, particularly against a backdrop of an RBA cutting cycle. In light of this, it continues to hold a positive long-term view of REA. It believes that the company's cash flow profile will be able to sustain operational and capital expenditure to support its market leading position. The REA Group share price is fetching $244.49 at the time of writing.
ResMed Inc. (ASX: RMD)
Analysts at Goldman Sachs have retained their conviction buy rating on this sleep disorder treatment company's shares with an improved price target of $49.30. According to the note, Goldman was pleased with ResMed's quarterly update, which was broadly in line with expectations. It was particularly pleased with the company's gross margin, which grew ~70bps sequentially and met the top end of management's guidance. Another positive is that ResMed has received confirmation from the US Government that its medical devices are largely exempt from tariffs. All in all, the broker remains positively on the company and feels that its shares are undervalued at current levels. Particularly given its forecast for earnings per share to grow at a compound annual growth rate of 17% between FY 2024 and FY 2027. The ResMed share price is trading at $37.05 this afternoon.
