With lots of ASX shares to choose from on the Australian 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 outlined below. Here's why they are bullish on them:
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Bannerman Energy Ltd (ASX: BMN)
According to a note out of UBS, its analysts have initiated coverage on this uranium developer's shares with a buy rating and $5.15 price target. The broker is positive on the long-term uranium outlook and is forecasting a price of US$100 per pound. This is due to an increasing focus on energy security and growing demand from AI and data centres. UBS highlights that this enhances the project economics of Bannerman's Etango operation in Namibia, which it views as a relatively stable jurisdiction with a track record of successful and stable uranium assets with international ownership. In light of this, the broker sees significant value in the company's shares at current levels. The Bannerman Energy share price is trading at $3.52 on Monday afternoon.
DigiCo Infrastructure REIT (ASX: DGT)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $3.40 price target on this data centre operator's shares. The broker highlights a seemingly exponential acceleration in data centre construction in recent years. In fact, it points out that this construction boom is now contributing 1.9% of Australia's GDP. While there are many winners from this trend, the broker believes DigiCo Infrastructure REIT likely presents the most upside opportunity via acceleration of its SYD1 DC expansion. It believes this expansion will be able to capture current demand and boost EBITDA above consensus expectations. The DigiCo Infrastructure REIT share price is fetching $2.58 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 a reduced price target of $18.60. The broker remains positive on Seek and has named the company as its preferred rate-sensitive classifieds exposure. It also highlights its belief that Seek is well-placed to avoid disruption from artificial intelligence (AI), pointing out that its underlying proprietary data (~750m points per day) partially consists of traffic meta data which is unable to be scraped by third parties. It thinks this is valuable for targeted job placements and should support yield through soft volume environments. The Seek share price is trading at $13.91 on Monday afternoon.
