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:
Aventus Group (ASX: AVN)
According to a note out of the Macquarie equities desk, its analysts have upgraded this retail park operator's shares to an outperform rating and lifted the price target on them to $2.90. Macquarie made the move on the belief that recent regulatory changes will be a boost to the company's prospects. In addition to this, it notes that Aventus offers a very attractive distribution yield currently. Macquarie's estimate of a 16.6 cents per share full year distribution equates to a 6.7% yield. I agree with the broker on this one and feel it is one of the best options on the local market for income investors.
National Australia Bank Ltd (ASX: NAB)
A note out of Citi reveals that its analysts have retained their buy rating and $29.50 price target on this banking giant's shares following the appointment of Ross McEwan as its new chief executive officer and managing director. According to the note, Citi believes the combination of Mr McEwan and chairman Phil Chronican is as strong and experienced as any of the big four banks. I think Citi is spot on and would also class NAB's shares as a buy.
South32 Ltd (ASX: S32)
Analysts at Morgans have upgraded this diversified miner's shares to an add rating, albeit with a slightly lower price target of $3.45. According to the note, the broker was pleased with the company's decision to offload its South African Coal operation. It believes this sale will be a major catalyst for the company, which could make now a good time to pick up its shares following a selloff in recent months. Whilst it wouldn't be my first choice in the sector, I agree that it could be a good time to pick up shares.
