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:
Corporate Travel Management Ltd (ASX: CTD)
According to a note out of Morgans, its analysts have retained their add rating but trimmed the price target on this corporate travel specialist’s shares to $27.50. Whilst the broker acknowledges concerns over geopolitical risks and data showing lower demand for corporate travel, it remains confident in the company’s ability to generate solid earnings growth thanks to new clients wins and its use of technology. I think Morgans makes a fair point and Corporate Travel Management could be worth considering at the current level.
Freedom Foods Group Ltd (ASX: FNP)
A note out of Deutsche Bank reveals that its analysts have retained their buy rating but trimmed the price target on this diversified food company’s shares slightly to $5.70. According to the note, the broker believes Freedom Foods is well-positioned for long-term growth thanks to the growing demand for its core products and the strong potential of its Nutritionals business. I think Deutsche is spot on with Freedom Foods and would class its shares as a buy, especially after its recent $130 million equity raising means the company can now accelerate its growth strategy.
OZ Minerals Limited (ASX: OZL)
Another note out of Morgans reveals that its analysts have upgraded this copper producer’s shares from a hold rating to add with an $11.27 price target. According to the note, the broker believes the selling of its shares has been overdone and has left them trading at an attractive level. Prior to today the OZ Minerals share price was down around 18% over the last six weeks amid concerns over the United States-China trade war and the impact this may have on copper demand. Whilst it wouldn’t be my first pick in the industry, it could be worth considering at this level.
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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 Corporate Travel Management Limited. The Motley Fool Australia has recommended Freedom Foods Group Limited. 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.