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:
Alacer Gold (ASX: AQG)
According to a note out of UBS, its analysts have retained their buy rating and $4.90 price target on this gold miner’s shares following the declaration of commercial production at its Copler sulphide plant. In addition to this, the broker notes that management has reiterated its production and cost guidance. UBS has lifted its earnings forecasts to reflect the news and continues to see a lot of value in its shares at the current level. Whilst it wouldn’t be my first pick in the industry, I think UBS makes some great points.
People Infrastructure Ltd (ASX: PPE)
Analysts at Ord Minnett have retained their buy rating and lifted the price target on this workforce management company’s shares to $3.25 following its decision to acquire IT recruitment company Halcyon Knights. According to the note, the broker believes that management has an eye for quality transactions and sees this one as a boost to its growth prospects. I agree with Ord Minnett on People Infrastructure and think it is one of the better small cap tech shares on the local share market right now.
Qantas Airways Limited (ASX: QAN)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and $6.74 price target on this airline operator’s shares following the release of international travel data for the month of March. According to the note, the data shows that foreign airlines are cutting capacity into Australia. The broker believes this bodes well for Qantas and expects it to support its international passenger market share. Furthermore, the broker expects the airline to benefit from its fully-hedged fuel position for FY 2020. I agree with Goldman on Qantas and feel it would be a good option for investors.
5 stocks under $5
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*Extreme Opportunities returns as of June 5th 2020
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended People Infrastructure Ltd. 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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