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:
Coronado Global Resources Inc (ASX: CRN)
A note out of Goldman Sachs reveals that its analysts have held firm with their buy rating and $3.90 price target on this coal miner's shares. According to the note, the broker is positive on Coronado due to robust metallurgical coal prices and strong steel demand in China and India. The broker also expects the company to report a lift in coal sales for the June quarter and suspects that a special dividend could be declared in August. Whilst it wouldn't be my first pick in the resources sector, I think it could be worth considering.
Independence Group NL (ASX: IGO)
Equity analysts at Macquarie have retained their outperform rating and lifted the price target on this nickel producer's shares to $5.20 following its latest update. According to the note, the broker was pleased with the way the company finished the year and appears confident that Independence Group will carry this form into FY 2020 and upgrade its guidance. Once again, not my first pick in the sector, but not a bad option if you're looking for exposure to it.
According to a note out of UBS, its analysts have retained their buy rating but trimmed the price target on this energy company's shares to $8.85. The broker has lowered its price target partly to reflect the reduced free cash from the Australia Pacific LNG operation because of changes to royalty taxes and its decision to lower retail prices. However, UBS still remains positive on the investment opportunity with Origin Energy and believes that short term headwinds will be offset by strong cash distributions from Australia Pacific LNG. It prefers Origin over rival AGL Energy Limited (ASX: AGL), which it currently has a sell rating on. Whilst I think UBS makes some good points, I'm sitting on the fence with this one for the time being.
