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:
CSL Limited (ASX: CSL)
According to a note out of UBS, its analysts have retained their buy rating and $223.00 price target on this biopharmaceutical company's shares after immunoglobulin industry data showed that demand remains very strong in the United States. This is expected to have helped drive strong revenue growth in the second half of FY 2019 despite Haemophilia data remaining weak. I agree with UBS and think CSL would be a great long-term investment.
News Corp. (ASX: NWS)
A note out of Goldman Sachs reveals that its analysts have reiterated their conviction buy rating and $23.90 price target on this media giant's shares ahead of its results release later this week. According to the note, the broker expects News Corp to deliver a 13% lift in revenue to US$10.19 billion and a 21% increase in EBITDA to US$1.25 billion. This is ahead of the market consensus and could be the catalyst to its shares being re-rated higher. Whilst it wouldn't be my first pick, I think its shares are worth looking closer at.
Seven Group Holdings Ltd (ASX: SVW)
Another note out of Goldman Sachs reveals that it has also reiterated its conviction buy rating and $22.20 price target on this conglomerate's shares. According to the note, Seven Group is the broker's top pick in the Engineering, Construction and Chemicals space. This is because it has the strongest leverage to Australian mining capex and infrastructure cycles of the shares under coverage. And while the broker notes that its Coates business could disappoint in FY 2019, it believes investors should look beyond this due to its exposure to the long-term infrastructure spending backdrop. I think Goldman Sachs makes some great points and Seven Group could be worth considering.
