With so many shares to choose from on the ASX, 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:
IDP Education Ltd (ASX: IEL)
According to a note out of Goldman Sachs, its analysts have reiterated their buy rating on this language testing and student placement company's shares with a trimmed price target of $28.90. Goldman has been looking at the company since it lost its language testing monopoly in Canada. And while it suspects that investor focus may remain on this in the near term, it is comfortable with its earnings estimates even after factoring in a potential ~30% market share loss of Canada testing volumes over FY24/25. The IDP Education share price is trading at $21.14 today.
QBE Insurance Group Ltd (ASX: QBE)
A note out of Morgans reveals that its analysts have retained their add rating on this insurance giant's shares with a trimmed price target of $16.10. This follows an update to the broker's insurance/diversified financials sector earnings on a mark-to-market and a broad review of earnings assumptions. Morgans remains positive on QBE, though it suspects that a positive earnings surprise may be unlikely during earnings season. The QBE share price is fetching $15.49 this afternoon.
Regis Resources Ltd (ASX: RRL)
Analysts at Macquarie have retained their outperform rating and $2.90 price target on this gold miner's shares. This follows the release of a production update which came in ahead of the broker's expectations thanks to a strong performance from the Duketon mine. This offset softer than expected production from the Tropicana mine. Outside this, the broker remains positive on the miner's outlook and believes it can fund the development of the McPhillamys operation from cash reserves and debt facilities. The Regis Resources share price is trading at $2 today.
