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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Citi, its analysts have retained their buy rating and lifted the price target on this gaming technology company’s shares to $37.90. The broker believes that Aristocrat Leisure will deliver a strong full year result later this week. It expects double-digit earnings growth in FY 2020 and for this trend to continue for the medium term. Based on its growth profile, it believes its shares are great value at the current level. I agree with this view and would be a buyer of its shares.
Graincorp Ltd (ASX: GNC)
Analysts at UBS have retained their buy rating and $9.40 price target on this grain exporter’s shares. This follows the ACCC’s decision to not oppose the sale of the bulk liquid terminals business to ANZ Terminals. The broker has previously spoken very positively about the potential demerger of its malt business. It believes the plan will unlock value for shareholders. Whilst it isn’t a share that I’m a big fan of, I do think the malt business would be worth a look if it is spun off.
Qantas Airways Limited (ASX: QAN)
A note out of the Macquarie equities desk reveals that its analysts have upgraded this airline operator’s shares to an outperform rating with an increased price target of $7.90. According to the note, the broker believes that Qantas’ shares are cheap in comparison to its international peers. Macquarie expects its shares will continue to re-rate in the near term, especially given the improving profitability of its Domestic and Loyalty businesses. I think Macquarie is spot on and feel Qantas would be a good option for investors.
The post Leading brokers name 3 ASX shares to buy today appeared first on Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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. 2019