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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:
Brickworks Limited (ASX: BKW)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this building products company’s shares to $24.00. This follows the release of a solid full year profit result last week that was 10.1% ahead of consensus estimates. In addition, Morgans highlights that its shares screen as cheap given the current discount to inferred NTA and the pipeline of value accretive projects to be potentially realised over coming years. The Brickworks share price is trading at $21.18 on Monday.
A note out of Macquarie reveals that its analysts have retained their outperform rating and $4.70 price target on this property company’s shares. Macquarie sees an opportunity for GPT to unlock balance sheet capacity to fund its massive uncommitted development pipeline. It appears to believe that this would bode well for its future growth if done successfully. The GPT share price is fetching $3.86 this afternoon.
Lendlease Group (ASX: LLC)
A note out of Ord Minnett reveals that its analysts have retained their buy rating and $12.50 price target on this property company’s shares. Although the broker acknowledges that Lendlease is operating in a challenging leasing environment, it remains positive enough to retain its buy rating on Lendlease’s shares. This is due partly to company’s development pipeline, which includes high quality projects such as the new Google campus. The Lendlease share price is trading at $9.08 on Monday.