With so many shares to choose from on the Australian share market, 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:
BINGO Industries Ltd (ASX: BIN)
According to a note out of UBS, its analysts have retained their buy rating but reduced the price target on this waste management company's shares to $2.00 following the completion of the acquisition of Dial a Dump Industries. Based on its current share price, analysts at UBS believe the market has been too bearish on BINGO and see this as a buying opportunity for investors. I agree with UBS on BINGO and feel it would be a great option at the current level.
CSL Limited (ASX: CSL)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating on this biotherapeutics company's shares, albeit with a slightly lower price target of $225.00. According to the note, the broker is confident that immunoglobulin demand remains strong. In addition to this, Macquarie believes sales of some of its high margin products continue to grow and its roll out of plasma collection centres is ahead of the competition. I agree with Macquarie and feel CSL would be a great option for investors.
Qantas Airways Limited (ASX: QAN)
Analysts at Goldman Sachs have retained their buy rating and $6.93 price target on this airline operator's shares. According to the note, the broker isn't convinced that a U.S. recession is coming and believes the market has overreacted to the inversion in the U.S. yield curve. While yield curve inversions have been a leading signal in the last seven U.S. recessions, the broker notes that not all inversions lead to recessions. So, against the backdrop of weaker earnings and low interest rates, the broker believes investors should focus on shares that offer income and growth like Qantas. As long as oil prices remain close to current levels, I would agree and be a buyer of its shares.
