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:
AP Eagers Ltd (ASX: APE)
According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this auto retailer's shares to $15.55. Morgans made the move after AP Eagers grew its relevant interest in Automotive Holdings Group Ltd (ASX: AHG) to beyond 90% to make the acquisition compulsory. The broker appears bullish on the two companies combined and sees a lot of value in its shares at the current level. Whilst it isn't my preferred pick in the retail sector, I do think it could be worth considering.
IOOF Holdings Limited (ASX: IFL)
A note out of the Macquarie equities desk reveals that its analysts have upgraded this financial services company's shares to an outperform rating and increased the price target on them to $7.00. According to the note, the broker made the move after the Federal Court ruled that IOOF's APRA regulated entities and five individuals did not contravene the Superannuation Industry Act. Although it accepts that there are still challenges ahead, it believes this is a big positive and the company is slowly regaining the confidence of the market. Whilst I think Macquarie makes a great point, it remains too soon for an investment for me.
Premier Investments Limited (ASX: PMV)
Analysts at Credit Suisse have retained their outperform rating and lifted the price target on this retailer's shares to $20.56. According to the note, the broker was pleased with Premier Investments' full year results in a tough retail market and particularly the performance of its apparel brands. Another positive that caught the eye of Credit Suisse has been the company's ability to achieve rental reductions. Although I think its shares are about fair value now, I feel they could still be a good long term option.
