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:
Baby Bunting Group Ltd (ASX: BBN)
According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this baby products retailer’s shares to $4.03. Although Baby Bunting’s half year result was a touch weaker than it expected, the broker remains positive on its long-term growth prospects. It likes the company’s store expansion strategy and appears confident it will create value for shareholders in the coming years. I agree with Morgans and feel Baby Bunting is a good option if you’re looking for exposure to the retail sector.
Beach Energy Ltd (ASX: BPT)
Analysts at Credit Suisse have upgraded this energy producer’s shares to an outperform rating with a $2.49 price target. According to the note, the broker believes a recent pullback in its share price is a buying opportunity for investors. It believes its recent guidance revision has now got all the bad news out of the way, and expects much more positive commentary with its full year results. Whilst it isn’t my preferred pick in the resources sector, it could be worth a closer look.
NEXTDC Ltd (ASX: NXT)
A note out of Citi reveals that its analysts have retained their buy rating and lifted the price target on this data centre operator’s shares to $9.10. According to the note, the broker expects its short term earnings growth to be driven by its contracted order book. After which, it sees NEXTDC benefiting from more workloads moving to the cloud and increasing data consumption. I agree with Citi on NEXTDC and feel it could be a great long-term investment thanks to the cloud computing boom.
The post Leading brokers name 3 ASX shares to buy right now appeared first on Motley Fool Australia.
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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia has no position in any of the stocks mentioned. 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. 2020