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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Seek Ltd (ASX: SEK)
According to a note out of Macquarie, its analysts have retained their outperform rating and $23.00 price target on this job listings company's shares. This follows the release of Australian job ad data, which implies that volumes were down 10% in FY 2025. The good news is that this was in line with Macquarie's expectations. In light of this, the broker feels that Seek will deliver a full year result within its guidance range and in line with consensus expectations. Outside this, Macquarie notes that Seek remains its top classifieds pick. It believes that product developments announced at the May Investor Day event will benefit ANZ yields (price + depth), which could see upside to consensus expectations for FY 2026, especially if volumes return to growth. It feels this could ultimately support a re-rating of its shares. The Seek share price is trading at $24.37 on Monday.
Step One Clothing Ltd (ASX: STP)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this online underwear retailer's shares with a trimmed price target of $1.25. This follows the release of a trading update which revealed sales growth in line with its expectations. And while it is giving up gross margin to get it, the broker isn't too downbeat given its high-margin product model. Bell Potter has trimmed its estimates to reflect this but remains positive on the future. It believes a turnaround is coming from the second half of 2026, driven by rate cuts and lower discounting. The Step One share price is fetching 68 cents at the time of writing.
Xero Ltd (ASX: XRO)
Analysts at Morgan Stanley have retained their overweight rating and $235.00 price target on this cloud accounting platform provider's shares. According to the note, the broker isn't concerned by a rival's expansion in the US mid-market segment. In fact, it feels that there is no material threat to Xero's US business given its focus on smaller businesses. Morgan Stanley estimates that this is a US$21 billion market opportunity for Xero, giving it a significant long term growth runway. The Xero share price is trading at $178.26 this afternoon.
