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:
Cochlear Limited (ASX: COH)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted the price target on this hearing solutions company's share to $209.00. The broker likes Cochlear due to its position as a market leader in an attractive space. It estimates that the company commands a 58% share in a structural growth market which is characterised by attractive demographics, relatively favourable pricing, substantial penetration upside, and high barriers to entry. I agree with Goldman on Cochlear and believe its shares are a great buy and hold option.
GrainCorp Ltd (ASX: GNC)
A note out of Deutsche Bank reveals that its analysts have retained their buy rating and $11.08 price target on this grains company's shares after it announced a 10-year agreement to manage the risk associated with the volatility of eastern Australian winter grain production. According to the note, Deutsche Bank believes this is a positive development and sees it as a key milestone in the restructure of the business. In addition to this, the broker feels that the agreement de-risks the proposed spin-off of its malt division. I think Deutsche makes a great point and GrainCorp could be worth a closer look.
Syrah Resources Ltd (ASX: SYR)
Analysts at Credit Suisse have held firm with their outperform rating and lofty $3.30 price target on this graphite producer's shares after it downgraded its production guidance for the second quarter. The broker continues to see Syrah as good value and has previously spoken about how a re-rating could occur if it demonstrates a consistent production performance. Whilst its shares do look cheap, I wouldn't be a buyer until graphite prices reach an inflection point and its production improves.
