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:
Costa Group Holdings Ltd (ASX: CGC)
According to a note out of Citi, its analysts have retained their buy rating and $5.80 price target on this horticulture company’s shares. Citi believes Costa Group is well-positioned to return to strong growth in FY 2019 thanks largely to the performance of its international operations. Furthermore, the broker believes there are numerous growth drivers that will underpin solid medium term earnings growth. I agree with Citi on Costa and think it would be a great option at the current level.
National Australia Bank Ltd (ASX: NAB)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $30.55 price target on this banking giant’s shares ahead of its half year results release on Thursday. According to the note, although the broker expects NAB to cut its dividend by 10% to 89 cents per share, it remains positive on the bank’s outlook and expects it to achieve APRA’s unquestionably strong CET1 ratio benchmark by the end of September. I agree with Goldman on this one and think it is a good option in the banking sector.
ResMed Inc. (ASX: RMD)
Analysts at Credit Suisse have retained their outperform rating and $15.35 price target on this sleep treatment-focused medical device company’s shares ahead of its third quarter update this week. According to the note, the broker believes ResMed will bounce back from its softer than expected second quarter result. It has forecast constant currency revenue growth of 14% during the third quarter. I think Credit Suisse is spot on with ResMed and would class it as a strong long-term buy.
Where to invest $1,000 right now
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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia owns shares of National Australia Bank Limited. The Motley Fool Australia has recommended ResMed Inc. 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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