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:
Image source: Getty Images
Lovisa Holdings Ltd (ASX: LOV)
According to a note out of Citi, its analysts have retained their buy rating on this fashion jewellery retailer's shares with a trimmed price target of $38.45. This follows the release of a trading update at Lovisa's annual general meeting last week. The broker was pleased with the update and has lifted its profit forecast for the financial year to reflect stronger than expected sales. In addition, Citi has visited a new store design and believes it will be successful in bringing more customers inside. Overall, it sees a lot of value in its shares at current levels following a recent pullback and thinks investors should be snapping them up. The Lovisa share price is trading at $30.62 this afternoon.
Megaport Ltd (ASX: MP1)
A note out of Morgans reveals that its analysts have upgraded this network-as-a-service provider's shares to a buy rating with a $17.00 price target. The broker has been busy updating its model to reflect a recent capital raising, the acquisition of compute-as-a-service provider Latitude.sh, and network expansion into India. Morgans highlights that the acquisitions accelerate revenue and EBITDA growth while the core MP1 business keeps improving. It notes that since June, its net revenue retention has lifted 2 percentage points to 109%. In addition, revenue and annual recurring revenue growth has been strong. The Megaport share price is fetching $13.29 at the time of writing.
WiseTech Global Ltd (ASX: WTC)
Analysts at Bell Potter have retained their buy rating on this logistics solutions software provider's shares with a trimmed price target of $100.00. According to the note, the broker was pleased to see management reiterate its guidance at its annual general meeting last week. It believes this guidance reiteration was the first hurdle cleared by management. It is now looking forward to its investor day event next week, when an update will be given on its new commercial model and the launch of its Container Transport Optimisation (CTO) offering. Bell Potter believes WiseTech will achieve the low end of its guidance in FY 2026. The WiseTech Global share price is trading on Monday.
