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:
Karoon Energy Ltd (ASX: KAR)
According to a note out of the Macquarie equities desk, its analysts have upgraded this energy producer’s shares to an outperform rating and more than doubled its price target to $3.00. The broker made the move after Karoon Energy announced plans to acquire the Bauna oilfield. Although it expects a sizeable capital raising will be required to fund the acquisition, it appears to believe it will be a game-changer for the company. Whilst I’m not a buyer of its shares just yet, I think this major acquisition does make it one to watch.
ResMed Inc. (ASX: RMD)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted the price target on this sleep treatment-focused medical device company’s shares to $20.10 following the release of its fourth quarter update. According to the note, the broker was pleased with ResMed’s performance during the quarter, which outperformed its expectations. Looking ahead, the broker appears confident that this solid form can continue thanks to the quality of its broad product portfolio. I agree with Credit Suisse and would class its shares as a buy.
Treasury Wine Estates Ltd (ASX: TWE)
Another note out of Credit Suisse reveals that its analysts have held firm with their outperform rating and $19.85 price target on this wine company’s shares after reviewing recent U.S. sales data. According to the note, the data demonstrates that Treasury Wine Estates has experienced a strong uptick in sales recently following the launch of its Beringer Brothers product. I agree with Credit Suisse on Treasury Wine Estates as well and feel it could be a very good long term investment.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia has recommended ResMed Inc. 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.