With so many shares to choose from on the ASX, 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:
Adairs Ltd (ASX: ADH)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted the price target on this homewares retailer’s shares to $2.80. Goldman likes Adairs due to its strong online business, improving supply chain, and attractive valuation. In respect to the latter, the broker estimates that Adairs’ shares are changing hands at just 10x FY 2022 earnings. It believes this offers a compelling risk/reward. I think Goldman makes some great points and Adairs could be worth considering.
Nick Scali Limited (ASX: NCK)
A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this furniture retailer’s shares to $8.20. It believes that its strong order book is a sign that FY 2021 will be a solid year. In addition to this, the broker feels that Nick Scali’s target demographic are less likely to lose their jobs once the JobKeeper program ends. I think Citi could be on the money with this one and Nick Scali could be worth a closer look.
Westpac Banking Corp (ASX: WBC)
Analysts at Morgans have retained their add rating and lifted the price target on this banking giant’s shares to $22.50. According to the note, the broker believes that the bad debt damage being factored into its share price is overdone. Morgans doesn’t believe the bad debt experience during the pandemic will be as severe as that experienced during the GFC. I agree with Morgans on Westpac and would be a buyer of its shares.
And here are more top shares which analysts have just given buy ratings to…
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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. 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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