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:
Aristocrat Leisure Ltd (ASX: ALL)
According to a note out of Morgans, its analysts have retained their add rating on this gaming technology company's shares with a trimmed price target of $71.00. While the broker was expecting a messy result from Aristocrat due to divestments, it was not expecting a ~5% shortfall in the core land-based division versus consensus expectations. It notes that this was caused by a softer leased fee per day and an adverse mix in North America. Nevertheless, the broker sees no structural change in market dynamics and believes the miss was a short-term timing and mix issue. It was also pleased to see that management reiterated its qualitative guidance of constant currency NPATA growth in FY 2025. The Aristocrat share price is trading at $62.34 on Monday afternoon.
Resolute Mining Ltd (ASX: RSG)
A note out of Macquarie reveals that its analysts have retained their outperform rating on this gold miner's shares with an improved price target of 65 cents. This follows the completion of the acquisition of the Doropo operation and ABC greenfield resources from AngloGold Ashanti. The broker believes the development of Doropo will be accretive and could see group production lift to >300,000 ounces per annum from 2028. Though, it concedes that it will come with high up-front capital. Overall, the broker sees Resolute's diversification into Côte d'Ivoire as a positive, with Doropo economics looking promising. The Resolute Mining share price is fetching 58.5 cents at the time of writing.
Web Travel Group Ltd (ASX: WEB)
Analysts at Ord Minnett have retained their buy rating on this business to business (B2B) travel company's shares with an improved price target of $8.30. The broker highlights that the company's shares have been hit hard over the past 12 months due to revenue margin pressures and delays with its results release. However, it feels investors should look beyond this given its positive long term outlook. It also highlights that its side of the market is less exposed to leisure travel and therefore won't be impacted by soften global leisure trends. And with its results just around the corner, it suspects that a re-rating could be on the way. The Web Travel share price is trading at $4.50 on Monday.
