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:
Amcor Limited (ASX: AMC)
Analysts at Deutsche Bank have retained their buy rating and $16.15 price target on this packaging company's shares after attending an investor briefing which provided them with an update on the acquisition of the Bemis business. According to the note, the broker believes the acquisition will be materially accretive to Amcor's earnings. Whilst it isn't a share that I'm a huge fan of, I do see a lot of positives in this acquisition which is expected to complete next month.
Jumbo Interactive Ltd (ASX: JIN)
According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this lottery ticket seller's shares by over 70% to $19.18. The broker made the move on its belief that Jumbo is likely to smash its guidance again in FY 2019 following favourable trading conditions in lottery market. In addition to this, the broker believes that the company's software-as-a-service business could be a key driver of growth in the future and could help drive its margins higher. I agree with Morgans on Jumbo and think it could be a great investment option.
REA Group Limited (ASX: REA)
A note out of the Macquarie equities desk reveals that its analysts have retained outperform rating and lifted the price target on this property listings company's shares to $93.50. According to the note, the broker remains positive on REA Group's business despite the cyclical headwinds it faces. Furthermore, after a reasonable pullback in its share price over the last four weeks, the broker believes its shares are trading at an attractive level. I think Macquarie is spot on with this one and would be a buyer of its shares.
