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 Goldman Sachs, its analysts have reaffirmed their buy rating and lifted their price target on this gaming technology company’s shares to $30.00 ahead of its half year update. The broker appears confident that its Digital business will have performed very strongly in the first half and offset weakness in the poker machines business. It expects Digital revenues to increase 30% to $1,067 million, whereas Land-based revenues are forecast to fall 10% to $1,116 million. I agree with Goldman Sachs and believe Aristocrat Leisure would be a great long term option.
Breville Group Ltd (ASX: BRG)
Analysts at UBS have retained their buy rating and lifted the price target on this appliance maker’s shares to $22.50. According to the note, the broker was pleased to see Breville deliver strong sales growth between January and April. And while it suspects that some sales could have been brought forward by the work from home initiative, it remains positive on its future growth. Especially given the company’s plan to expand into new markets. I think UBS is spot on and this quiet achiever could be a decent option for investors.
Zip Co Ltd (ASX: Z1P)
A note out of Morgans reveals that its analysts have retained their add rating and lifted the price target on this buy now pay later provider’s shares to $3.40. According to the note, the broker was pleased with Zip Co’s performance in April. And while it notes that its sales growth has slowed and its bad debts have lifted, these were still positive results given the pandemic. It has revised its earnings forecasts higher and its price target accordingly. I think Morgans has made a good call and Zip Co would be worth considering.
And here are five more buy-rated shares that could provide investors with strong returns in 2020.
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Returns as of 7/4/2020
More reading
- Why Aristocrat Leisure, Newcrest, Santos, & Zip Co shares are charging higher
- These are the 10 most shorted ASX shares
- What to watch on the ASX 200 next week
- Broker tips 10 ASX 200 shares for a post-coronavirus recovery
- ASX 200 drops 1.7%, Xero reports a profit
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 ZIPCOLTD FPO. 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.
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