With so many shares to choose from on the ASX, it can be hard 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 leading brokers have named as buys this week are listed below. Here's why they are bullish on them:
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Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $43.00 price target on this gaming technology company's shares. Goldman believes that Aristocrat will release a strong half-year result this month. It expects the company to report a 16% increase in revenue and a 20% jump in NPATA for the period. In light of this and its positive outlook, the broker feels its shares are good value at the current level. The Aristocrat share price is trading at $32.16.
Breville Group Ltd (ASX: BRG)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $34.80 price target on this appliance manufacturer's shares. This follows the release of an update from rival De'Longhi last week which revealed a record quarterly performance. Macquarie sees the result as a positive read-through for Breville's performance during the second half of FY 2022. The Breville share price is fetching $21.93 today.
Xero Limited (ASX: XRO)
Analysts at Citi have retained their buy rating and $108.00 price target on this cloud accounting platform provider's shares. The broker suspects that the increased investment by Sage in the UK (brand, marketing and go-to-market) was one of the reasons for Xero's lower than expected subscriber growth in the country during the second half of FY 2022. Nevertheless, Citi remains positive. While conceding that competition is a risk, it continues to expect Xero to deliver strong growth in the UK driven by cloud adoption. The latter will be supported by the Making Tax Digital regulatory changes. The Xero share price is trading at $86.92 on Monday.
