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:
Appen Ltd (ASX: APX)
According to a note out of UBS, its analysts have retained their buy rating and $32.00 price target on this artificial intelligence company’s shares. The broker was pleased with Appen’s latest update and feels there is upside risk to its earnings guidance for FY 2020. It was also pleased with management’s commentary around its near term prospects. I agree with UBS and feel Appen would be a great buy and hold option for investors.
Austal Limited (ASX: ASB)
Analysts at Citi have retained their buy rating and lifted the price target on this shipbuilder’s shares to $4.05. The broker made the move after Austal upgraded its FY 2020 guidance. In addition to this, Citi believes that its guidance could still be conservative. Outside this, the broker likes Austal due to its opportunities in autonomous vehicles and also in the Philippines. I think Citi makes some good points and it could be worth considering.
Super Retail Group Ltd (ASX: SUL)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this retailer’s shares to $9.00. The broker’s research indicates that the company’s Rebel and Supercheap Auto businesses may be performing well during the pandemic. While Super Retail Group isn’t my top pick in the retail sector right now, I think its shares could be worth a closer look at this level.
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More reading
- The latest ASX 200 stocks to be upgraded by top brokers
- How bankable are the big four ASX bank shares in 2020?
- The Appen share price smashed the market in May: Is it too late to buy?
- Why Nearmap’s share price surged by 50% in May
- ASX 200 up 0.6%: NAB charges higher, ACCC investigates Qantas acquisition
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 Austal Limited. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of Appen Ltd. 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 post Leading brokers name 3 ASX 200 shares to buy right now appeared first on Motley Fool Australia.
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