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:
Dyno Nobel Limited (ASX: DNL)
According to a note out of Goldman Sachs, its analysts have put a buy rating and $3.10 price target on this commercial explosives company's shares. The broker is feeling positive about the company, formerly known as Incitec Pivot, for a couple of reasons. One is tighter global nitrogen markets and the other is positive trends in domestic AN markets ahead of recontracting. In addition, the broker notes that the sale of the Waggaman Ammonia plant means that Dyno Nobel is intending to return $1 billion of capital to shareholders. This includes through a $900 million share buyback, which is currently underway. The Dyno Nobel share price is trading at $2.18 on Monday afternoon.
Gentrack Group Ltd (ASX: GTK)
A note out of Shaw and Partners reveals that its analysts have retained their buy (high risk) rating and $11.80 price target on this utilities software company's shares. Shaw and Partners rates Gentrack very highly, labelling it one of its top picks right now. And with its shares down materially since November, it thinks now is a great buying opportunity for investors. Especially given how Gentrack has reaffirmed its confidence in achieving medium-term revenue growth of 15%+. The broker believes this will be the case this year, with recurring revenue growing at almost 20% for the year. The Gentrack share price is fetching $9.08 at the time of writing.
Paladin Energy Ltd (ASX: PDN)
Analysts at Citi have retained their buy rating on this uranium producer's shares with a trimmed price target of $10.20. According to the note, the broker feels that now could be an opportune time to load up on the company's shares. Especially given its belief that once the dust settles on geopolitical and tariff concerns, contracting activity should start picking up and higher uranium prices are expected by Citi. It also feels that the tariffs placed on Namibia by the United States won't impact Paladin Energy's Langer Heinrich Mine. All in all, the broker sees huge upside from current levels and reaffirms its buy rating. The Paladin Energy share price is trading at $4.11 this afternoon.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Gentrack Group and Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Gentrack Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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