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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Newmont Corporation (ASX: NEM)
According to a note out of UBS, its analysts have retained their buy rating on this gold giant's shares with an improved price target of $140.00. The broker continues to believe that Newmont is the best large cap gold stock to buy on the Australian share market for exposure to the precious metal. And with UBS believing that the gold price will be stronger than the market expects due to geopolitical and macro risks, it could be a great time to invest. Outside this, the broker likes Newmont due to its strong production, below target net debt, and sizeable share buyback. The Newmont share price is trading at $124.92 on Monday.
Region Re Ltd (ASX: RGN)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $2.70 price target on this convenience-based retail property company's shares. The broker believes there are clear signs for further valuation growth, especially given the company's strong weighting to higher value east coast land. However, despite this positive outlook and its position as the largest owner of neighbourhood centres in the country, its shares are still trading at a slight discount to net tangible assets (NTA). Whereas during prior growth cycles, its shares have traded at 15% to 20% premium. The Region Re share price is fetching $2.43 at the time of writing.
Xero Ltd (ASX: XRO)
Analysts at Citi have retained their buy rating and $210.00 price target on this cloud accounting platform provider's shares. According to the note, the broker has found positives from a rival's investor day event. It notes that Quickbooks owner Intuit (NASDAQ: INTU) has stressed how agentic AI will be a key growth driver. This bodes well for the Just-Ask-Xero (JAX) offering and feels that it could support improvements in its average revenue per user (ARPU) metric over the coming years. Another reason to be positive, according to Citi, is its superior subscriber growth and stronger momentum in North America compared to its rival. The Xero share price is trading at $164.15 this afternoon.
