With so many shares to choose from on the S&P/ASX 200 Index (ASX: XJO), 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:
Sydney Airport Holdings Pty Ltd (ASX: SYD)
According to a note out of Goldman Sachs, its analysts have reiterated their buy rating and $7.00 price target on this airport operator’s shares following its annual general meeting. The broker believes that management’s commentary fits with its expectations for a staged recovery in passenger volumes over the medium term. In light of this, it believes Sydney Airport’s shares are cheap at the current level. I agree with Goldman Sachs and would be a buyer of its shares today.
TPG Telecom Ltd (ASX: TPM)
Analysts at Morgans have upgraded this telecommunication company’s shares to an add rating with an improved price target of $9.14. The broker sees a lot of positives in its merger with Vodafone Australia. It expects it to benefit from cost savings and their combined cash flows which can be used for capital expenditure activities. While it isn’t my top pick in the industry, I do think Morgans makes some great points and TPG Telecom could be worth a closer look.
Wesfarmers Ltd (ASX: WES)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating but cut the price target on this conglomerate’s shares slightly to $39.40. According to the note, the broker believes the conversion of Target stores into Kmart stores is a good move and could give its earnings a big boost in the future. It also believes the Catch business is well-positioned for growth after adding Kmart and Target goods to its marketplace. While Wesfarmers’ shares have now pushed beyond this price target, I would still be a buyer with a long term view.
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More reading
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers 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.
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