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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CSL Ltd (ASX: CSL)
According to a note out of Bell Potter, its analysts have retained their buy rating on this biotechnology company's shares with a trimmed price target of $305.00. The broker notes that CSL has been challenged by several external uncertainties. This includes tariffs, US regulatory changes, and Most Favored Nation pricing. In addition, it highlights that the recent overhaul of the CDC's vaccine advisory panel has led to it tempering its Seqirus revenue growth forecasts. Nevertheless, it believes that CSL's double-digit earnings outlook remains intact. And with its shares trading on a PE multiple of 21x, which is a sizeable 32% discount to its 10-year average, the broker feels this is overly punitive. As a result, it thinks now could be a good time to invest. The CSL share price is trading at $239.59 today.
Mineral Resources Ltd (ASX: MIN)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $35.00 price target on this mining and mining services company's shares. The broker remains positive on this beaten down mining stock due largely to its mining services business. It feels the market is undervaluing this segment and believes it alone is worth $5 billion. And while Morgan Stanley acknowledges that there are balance sheet concerns, it sees plenty of opportunities for the company to strengthen it if necessary. This includes a partial sale of the aforementioned mining services business. The Mineral Resources share price is fetching $20.67 at the time of writing.
Seek Ltd (ASX: SEK)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this job listings company's shares with an increased price target of $28.40. The broker believes that Seek's Australian marketplace can potentially see ad volumes increase from macro tailwinds driven by an RBA cutting cycle. It also sees scope for Seek to deliver group yield and margin improvements through its unified platform. And while the broker expects near term share price volatility from sensitivity to economic indicators impacting the outlook for jobs growth and ad volumes on platform, Bell Potter thinks it is worth sticking with Seek. In fact, it is now its preferred Australian classifieds exposure. The Seek share price is trading at $23.67 on Monday.
