With so many shares to choose from on the Australian share market, 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 shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Goodman Group (ASX: GMG)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $16.05 price target on this integrated property group’s shares. Its analysts have been looking over the company’s U.S. operations and appear very positive on their outlook. This is due to the majority of properties being in locations that are in areas of undersupply and are likely to be experiencing stronger than average rental growth. Whilst it isn’t my favourite option in the industry, I think it is worth a closer look.
Jumbo Interactive Ltd (ASX: JIN)
Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $24.00 price target on this online lottery ticket seller’s shares. According to the note, the broker is positive on the company’s expansion into the UK market through its Gatherwell acquisition. It sees a lot of potential in the UK market for Jumbo in both the UK charity lottery and external lottery management segments. I agree with Morgan Stanley and feel Jumbo could be a good long-term option for investors.
Zip Co Ltd (ASX: Z1P)
Analysts at UBS have retained their buy rating and $4.80 price target on this payments company’s shares following the announcement of its capital raising. According to the note, the broker believes the risk/reward on offer with its shares is favourable. This is even after taking into account potential changes by the Reserve Bank in relation to surcharges for buy no pay later providers. While it sees this as a negative, it believes other buy now pay later providers would be impacted more that Zip Co. I agree with UBS on Zip Co and would be a buyer of its shares.
The post Leading brokers name 3 ASX shares to buy today appeared first on Motley Fool Australia.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Jumbo Interactive Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has recommended Jumbo Interactive Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019