Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

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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:

Arcadium Lithium (ASX: LTM)

According to a note out of Bell Potter, its analysts have retained their buy rating on this lithium miner's shares with a reduced price target of $6.25. Bell Potter notes that Arcadium Lithium recently held its investor day event. At the event, management focused on the diversified and vertically integrated nature of its tier-one asset portfolio and the company's enormous expansion potential. It also highlights that even after including aggressive lithium production growth from China and Africa, management believes that there will be market deficits from 2027. If this proves accurate, it could mean that a decent rebound in lithium prices isn't too far away. This would be good news given how much its production could grow between now and then. And with its shares trading at a material discount to its depreciated asset base, the broker feels now is the time to invest. The Arcadium Lithium share price is trading at $3.72 on Monday.

Lotus Resources Ltd (ASX: LOT)

Another note out of Bell Potter reveals that its analysts have retained their speculative buy rating on this uranium developer's shares with a reduced price target of 50 cents. This follows the release of the results of the scoping study on the Letlhakane Uranium Project, which was acquired in the ACAP Energy acquisition. Bell Potter notes that it was disappointed with the outcome of the scoping study. This was primarily due to the high costs compared to peers. While this has led to the broker cutting its valuation meaningfully, it continues to see material upside for investors. Especially with the progression of Kayelekera, which is due to recommence production over the coming year. The Lotus Resources share price is fetching 25 cents today.

REA Group Ltd (ASX: REA)

Analysts at Citi have retained their buy rating and $230.00 price target on this property listings company's shares. According to the note, the broker has been looking deeper into its proposed acquisition of Rightmove (LSE: RMV). Citi believes that the company's big opportunity could be through speeding up home sales. It thinks that by deploying its domestic tool set, it could reset a strained relationship with agents. In light of this, it continues to see positives from the potential deal. The REA share price is trading at $195.12 at the time of writing.

Motley Fool contributor James Mickleboro owns Arcadium Lithium shares. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended REA Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Rightmove Plc. The Motley Fool Australia has recommended REA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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