With so many shares to choose from on the ASX, it can be hard 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 leading brokers have named as buys this week are listed below. Here's why they are bullish on them:
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Coles Group Ltd (CSX: COL)
According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this supermarket giant's shares to $21.00. Citi has been looking at the impact that inflation will have on retailers and expects Coles to be impacted positively. So much so, the broker has lifted its earnings estimates to reflect an inflationary boost to sales. The Coles share price is trading at $18.88 on Monday.
CSL Limited (ASX: CSL)
Another note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this biotherapeutics company's shares to $345.00. Citi has been looking at recent results from rivals Grifols and Takeda and believes that they show an improvement in the plasma market operating environment. It notes that demand and pricing are strong and donor fees are coming down. The CSL share price is fetching $295.35 this afternoon.
Westpac Banking Corp (ASX: WBC)
Analysts at Goldman Sachs have upgraded this banking giant's shares to a conviction buy rating with a $26.12 price target. The broker made the move on the belief that Westpac's net interest margin is well-placed to benefit from higher rates. Goldman also notes that it has a greater level of comfort around the state of the franchise, despite its productivity agenda. The Westpac share price is trading at $21.62 today.
