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:
Bingo Industries Ltd (ASX: BIN)
According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this waste management company’s shares following its investor day event. Morgans appears to be pleased that its Dial a Dump Industries integration is tracking ahead of schedule. It also has become increasingly confident that Bingo will benefit from landfill levies. In light of this, it has upgraded its forecasts and price target accordingly. I think Morgans is spot on and would also class Bingo’s shares as a buy.
News Corp. (ASX: NWS)
A note out of Goldman Sachs reveals that its analysts have placed this media company’s shares onto its conviction buy list with a price target of $23.90. According to the note, the broker feels that the market is yet to adequately price in the full value of its stakes in property listings companies REA Group (ASX: REA) and Move Inc. Whilst I would sooner buy REA Group directly, I think that Goldman makes a good point on News Corp and feel it could be worth considering at the current level.
Worleyparsons Limited (ASX: WOR)
Another note out of Goldman Sachs reveals that its analysts have upgraded this engineering company’s shares to a buy rating with a $17.00 price target. According to the note, the broker made the move after looking closer at its Jacob’s ECR acquisition. Goldman believes the acquisition provides diversification and earnings accretion through the addition of a leading chemicals franchise. It also notes that its share price has fallen materially since the acquisition, despite estimating that it is +20% earnings per share accretive. I think Goldman Sachs could be on the money with this one.
And here is a blue chip share that has also just been rated as a buy by a leading analyst.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA 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.