Deciding which shares to buy and sell can be a difficult decision for most investors, especially with there being so many quality shares to choose from.
Thankfully brokers are out there making life easier for investors by providing their own buy and sell recommendations. Although broker recs should be taken with a large pinch of salt, two upgrades which caught my eye today are as follows:
Independence Group NL (ASX: IGO)
According to a research note out of Credit Suisse, its analysts have upgraded the miner's shares from neutral to outperform with a $4.40 price target. Its shares were recently sold-off following Indonesia's decision to lift its nickel export ban. But the Philippine government's plan to suspend and close several mines has led Credit Suisse to believe that the nickel oversupply may not last as long as first feared.
Whilst things certainly do look brighter for Independence Group, at this stage I'm not convinced the Philippine government will follow through on its threats. If the nickel oversupply continues for longer than expected then it could weigh heavily on its shares. For this reason I would avoid the miner for now.
Telstra Corporation Ltd (ASX: TLS)
Analysts at Ord Minnett have slapped an accumulate rating on the telco giant with a $5.45 price target. The broker appears to believe that increased data usage will be a key driver of growth for Telstra moving forward.
I would have to agree with Ord Minnett with this one. Whilst Telstra may not be the most exciting share to have in your portfolio, I believe it has what it takes to deliver low-to-mid-single digit profit growth for the foreseeable future. So with its shares providing a trailing fully franked 6% dividend, now could be a great time to snap up its shares.
