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 Bell Potter, its analysts have retained their buy rating and $4.70 price target on this uranium producer's shares. The broker highlights that Boss Energy is due to release its second quarter update at the end of the month. Bell Potter is expecting a significant quarter on quarter increase in uranium production. This is expected to be achieved with costs of A$69.71/lb (US$45/lb). However, these costs are expected to trend lower in the second half as new columns ramp up. In light of this, the broker continues to view Boss Energy as being attractively priced versus peers, which it feels could warrant a re-rating post the second quarter result should production and costs track in-line with its expectations. It also maintains its conviction in uranium and nuclear power over the coming 12 months. The Boss Energy share price is trading at $2.61 on Monday.
Another note out of Bell Potter reveals that its analysts have retained their buy rating and $16.50 price target on this online lottery ticket seller's shares. The broker believes that the market has priced in negative earnings growth for FY 2025 following a record performance in FY 2024 for Lottery Retailing total transaction value (TTV). While a small decline in earnings is likely, the broker feels that its shares are being undervalued on a historically low 10x forward EV/EBITDA and 19x PE ratio. It believes that this presents an attractive opportunity to gain exposure to the global lottery digital penetration thematic. The Jumbo share price is fetching $13.21 today.
Analysts at Goldman Sachs have retained their buy rating and $22.50 price target on this insurance giant's shares. According to the note, the broker has been looking over the potential impact of the devastating wildfires in Southern California. Goldman appears confident that QBE won't have meaningful exposure to the impacted areas. It notes that QBE has been reducing its exposure to California multi-peril lines across Commercial, Homeowners, Farmowners and Fire exposures. So much so, its market share almost halved from ~1.1% in 2021 to 0.6% in 2023. It also feels that QBE's 2024 market share is likely lower than in 2023. The QBE share price is trading at $19.27 at the time of writing.
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