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 Morgan Stanley, its analysts have retained their overweight rating on this financial services company's shares with a trimmed price target of $1.76. This follows the release of the company's full year results at the end of last week. While the broker was disappointed with its dividend outlook, it thinks it is worth sticking with the company and sees the post-results selloff as overdone. Especially given the prospect for strong earnings per share growth in 2025. Morgans Stanley also thinks AMP's launch of a small business and consumer digital bank in February could improve the deposit mix via lower cost transaction accounts. The AMP share price is trading at $1.43 on Monday afternoon.
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this asset management company's shares with an improved price target of $3.30. This follows the release of its full year results which revealed a stronger than expected second half performance. Goldman highlights that GQG's second half profit of $230.4 million was ahead of the consensus estimate of $219.2 million. It notes that this was largely driven by higher management fees and lower expenses than expected. Outside this, the broker feels that GQG Partners' valuation is attractive versus peers, particularly in the context of its strong earnings growth. The GQG Partners share price is fetching $2.51 at the time of writing.
Analysts at Citi have retained their buy rating on this online furniture and homewares retailer's shares with a massively improved price target of $21.10. Citi was impressed with the company's performance during the first half and believes there's more to come. Particularly given that its margin guidance gives the company room to accelerate marketing efforts that could arise from improving consumer sentiment if interest rates are cut. In addition, the broker is feeling confident that operating leverage and AI-driven consumer interaction can support margin expansion over the long term. This leaves it well placed to achieve its medium term 15% EBITDA margin target. The Temple & Webster share price is trading at $18.76 on Monday.
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