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:
According to a note out of Shaw and Partners, its analysts have retained their high risk buy rating on this counterdrone technology company's shares with a trimmed price target of $1.20. This follows the release of a quarterly update last week which fell short of the broker's expectations. While Shaw and Partners was a touch disappointed with the quarter, it remains positive on the future. Particularly given its robust sales pipeline and significant inventory position. It notes that the latter leaves DroneShield well-placed to handle big orders at short notice. Overall, the broker is feeling bullish and sees value in its shares at current levels. The DroneShield share price is trading at 94 cents on Monday.
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this airline operator's shares with an improved price target of $8.90. Goldman notes that the Flying Kangaroo released a market update ahead of its annual general meeting last week. It was pleased with the update and has upgraded its medium term earnings estimates and valuation to reflect it. Outside this, Goldman continues to believe that Qantas has an attractive valuation. It highlights that it is trading only 14% and 5% above its pre-COVID market capitalisation and enterprise value. This is despite structurally improved earnings capacity (PBT) that is expected to be 72% above pre-covid levels in FY 2025. The Qantas share price is fetching $8.13 at the time of writing.
Analysts at Macquarie have retained their outperform rating on the sleep disorder treatment company's shares with an improved price target of $41.10. This follows the release of a strong first quarter update last week. Macquarie notes that ResMed delivered a quarterly profit comfortably ahead of expectations thanks to a better than expected performance from the rest of the world segment. It was also pleased with the company's operating leverage and free cash flow generation. In response to the update, the broker has lifted its earnings estimates and valuation accordingly. The ResMed share price is trading at $38.65 today.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。