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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Catalyst Metals Ltd (ASX: CYL)
According to a note out of Bell Potter, its analysts have retained their buy rating and $14.60 price target on this gold miner's shares. This follows the release of its half-year result, which revealed revenue and EBITDA that were up strongly on the prior corresponding period and in line with expectations. In light of this, Bell Potter continues to view Catalyst Metals as an undervalued gold producer (versus peers) with a clear line of sight in expanding its gold production, mineral reserves, and lowering its cost base through the hub and spoke model. The Catalyst Metals share price is trading at $8.79 on Monday afternoon.
Light & Wonder Inc. (ASX: LNW)
A note out of Morgans reveals that its analysts have upgraded this gaming technology company's shares to a buy rating with a trimmed price target of $195.00. This follows the release of full-year results that were in line with expectations. Morgans notes that this was driven by strong Gaming and iGaming performances, which offset continued softness in SciPlay. One highlight according to the broker was management's articulation of AI as both an offensive growth lever and a defensive moat. Morgans views AI as enhancing Light & Wonder's competitive edge rather than eroding it. As a result, it views the recent share price weakness as disconnected from the durability of its land-based earnings base. And with an undemanding valuation, it thinks investors should be snapping up shares today. The Light & Wonder share price is fetching $132.13 at the time of writing.
NextDC Ltd (ASX: NXT)
Analysts at Macquarie have retained their outperform rating on this data centre operator's shares with a trimmed price target of $20.80. According to the note, the broker was pleased with NextDC's half-year results and highlights that its forward order book demonstrates strong demand and execution. Looking ahead, the broker feels that the company has a significant growth opportunity, a strong market position, and optionality with regard to funding. The NextDC share price is trading at $13.45 on Monday.
