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 the Macquarie equities desk, its analysts have commenced coverage on this artificial intelligence company’s shares with an outperform rating and $38.00 price target. The broker believes that Appen’s Relevance segment has a sizeable opportunity in a fragmented and growing data preparation market. I agree with Macquarie and believe Appen is one of the best buy and hold options for investors.
IDP Education Ltd (ASX: IEL)
Analysts at Morgan Stanley have retained their overweight rating and $17.50 price target on this student placement and language testing company’s shares. Although the broker acknowledges that there is a lot of uncertainty due to the pandemic, it appears to believe the company will be in a stronger position once the crisis passes. I think that Morgan Stanley is spot on and believe IDP Education could be a great long term investment.
Seven Group Holdings Ltd (ASX: SVW)
A note out of Goldman Sachs reveals that its analysts have reiterated their buy rating and lifted their price target on this diversified investment company’s shares to $21.00. The broker is a fan of Seven Group due to an attractive combination of near-term earnings resiliency and longer-term cyclical growth. It notes that the company is benefiting from healthy mining activity and better than expected construction activity. While it isn’t a share which I’m a big fan of, I think that Goldman makes some very good points. This could make it worth taking a closer look.
And here are more top shares which analysts have just given buy ratings to…
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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 Idp Education Pty Ltd. 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.
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