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:
Eclipx Group Ltd (ASX: ECX)
According to a note out of Citi, its analysts have upgraded this fleet management company's shares to a buy rating and lifted the price target on them to $1.96 following the sale of its non-core Commercial Equipment Finance Australia business to Grow Asset Finance for $14.6 million. The broker sees this as a positive and has increased its EBITDA forecasts to reflect the removal of the loss-making business. Whilst I think Eclipx looks a lot better now, I'd like to see a sustained improvement in its performance before considering an investment.
St Barbara Ltd (ASX: SBM)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and $3.50 price target on this gold producer's shares. According to the note, the broker has been looking closely at the recently acquired Atlantic Gold business and believes it has a lot of potential in respect to exploration. In light of this, Macquarie believes the risk profile of the acquisition is low and that St Barbara is attractively priced at the current level. I agree that St Barbara would be a good option for investors looking for exposure to gold.
Whitehaven Coal Ltd (ASX: WHC)
Analysts at Credit Suisse have retained their outperform rating and $4.40 price target on this coal miner's shares. According to the note, the broker continues to believe that the market is overlooking the strong organic growth potential that the company has. Especially after the recent investor update provided its growth plans through to 2030. Whilst I prefer more diversified miners, I think Credit Suisse makes some great points.
