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 Macquarie, its analysts have retained their outperform rating on this uranium developer's shares with a trimmed price target of 40 cents. Macquarie notes that Lotus Resources is well-placed to restart its Kayelekera uranium mine in Malawi in the third quarter of 2025 following a $130 million capital raising late last year. The broker believes the company is fully funded through to the delivery of its first drum of uranium. After which, offtake agreements will kick in and revenue will start to be generated. As a result, the broker sees Lotus Resources as a good way to gain exposure to uranium. The Lotus Resources share price is trading at 24 cents this morning.
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this plumbing products company's shares with an improved price target of $6.05. Goldman notes that mortgage rate volatility/increases are impacting housing activity, reducing momentum within the new construction market and pushing out large ticket R&R activity. The broker believes that Reliance's US exposure should be relatively resilient (given 75%-80% non-discretionary repair). And while it does see downside risk to Europe/Middle East consensus estimates due to deteriorating R&M indicators, it is already sitting below the consensus with its forecasts. In light of this and its attractive valuation, the broker remains positive and continues to recommend the company to clients. The Reliance Worldwide share price is fetching $5.35 on Monday.
Analysts at Shaw and Partners have retained their buy rating on this hotel technology company's shares with an improved price target of $6.70. According to the note, the broker highlights that rival Hotelbeds is listing on the stock market in Europe. After comparing the two companies, Shaw and Partners notes that Web Travel's WebBeds business is growing at a quicker rate. And while it expects FY 2025 to be a subdued year due to revenue margin headwinds, the broker is forecasting very strong earnings growth in FY 2026. Outside this, the broker has previously suggested that Web Travel could become a takeover target due to its current depressed valuation. The Web Travel share price is trading at $4.70 on Monday.
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