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:
Afterpay Touch Group Ltd (ASX: APT)
According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this payments company's shares to $28.85 following a review of sector valuations. Morgans has previously spoken positively about its US business and believes that it has significant growth potential. It was also pleased to see its net transaction margin improving as the business scales in the massive market. I think Afterpay Touch could be a great buy and hold option but given its valuation and Visa's potential entry into the buy now pay later market, it is a high risk one.
Helloworld Travel Ltd (ASX: HLO)
A note out of Ord Minnett reveals that its analysts have retained their buy rating and $6.14 price target on this travel company's shares. According to the note, the broker expects a solid result from Helloworld in FY 2019 and believes more of the same will be possible in FY 2020 thanks to its focus on cost savings. I agree with Ord Minnett and feel Helloworld would be a good option for investors at the current level.
Nearmap Ltd (ASX: NEA)
Analysts at Citi have retained their buy rating and increased the price target on this aerial imagery technology and location data company's shares to $4.39 following the release of its preliminary full year results. The broker believes the selloff that ensued on Friday following the results release is a buying opportunity. Whilst its analysts have reduced their forecasts a touch, they still expect strong growth over the medium term. I think Citi is spot on and would class Nearmap's shares as a buy.
