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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Monash IVF Group Ltd (ASX: MVF)
According to a note out of Ord Minnett, its analysts have retained their buy rating on this fertility treatment company's shares with a trimmed price target of 95 cents. The broker acknowledges that two embryo bungles at its facilities are likely to put pressure on new patient volumes and lead to the loss of staff, higher operating costs, and increased regulations. As a result, it has reduced its earnings estimates for the coming years. However, it feels that its shares have been oversold and are now significantly undervalued based on its new earnings forecasts. It feels this has created a buying opportunity for investors. The Monash IVF share price is trading at 65 cents this afternoon.
Nufarm Ltd (ASX: NUF)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $3.45 price target on this agricultural chemicals company's shares. Bell Potter highlights that Nufarm has announced a review of its Seeds platform. It feels that this review may ultimately result in the divestment of this side of the business. Bell Potter's view is that this is likely to be a material value catalyst for Nufarm. It notes that in a breakup scenario using conservative multiples, it sees scope to realise $3.73 to $5.16 per share in value. It also believes that an exit from Seeds would likely highlight a crop protection business trading at a 25% to 50% discount to peers. All in all, it thinks investors should be snapping up this stock while it is down. The Nufarm share price is fetching $2.32 at the time of writing.
Zip Co Ltd (ASX: ZIP)
Another note out of Ord Minnett reveals that its analysts have retained their buy rating on this buy now pay later provider's shares with an improved price target of $3.40. The broker feels that Zip is in a great place right now following its second guidance update in less than three months. It is particularly pleased with the strong momentum that is being seen in the United States despite the challenging macro environment. Combined with the benefits of falling interest rates, it is feeling very positive on the company's outlook. The Zip share price is trading at $2.61 this afternoon.
