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:
Coronado Global Resources Inc (ASX: CRN)
According to a note out of Morgans, its analysts have retained their add rating but cut the price target on this coal miner's shares to $3.50 following its earnings guidance downgrade. Last week Coronado revised its EBITDA guidance range to $687 million to $737 million from $995 million to $1,068 million for calendar year 2019. This was due to the current weakness in benchmark prices for metallurgical coal. Morgans wasn't surprised by the downgrade and continues to believe the company's long term prospects are very positive. Whilst its shares do look good value, I would rather wait for coal prices to improve before considering an investment.
News Corp (ASX: NWS)
A note out of Goldman Sachs reveals that its analysts have reiterated their conviction buy rating and lifted the price target on this media company's shares to $26.90 following its investor event in the United States. According to the note, one key takeaway from the event was the ability of its Move business to accelerate revenue and earnings growth in FY 2020. In addition to this, the broker is pleased with its continued focus on reinvestment and the simplification of the business. I think News Corp is worth considering at the current level, especially given the potential upside on offer from Goldman's price target.
Woodside Petroleum Limited (ASX: WPL)
Analysts at Credit Suisse have retained their outperform rating but trimmed the price target on this energy producer's shares to $36.20. According to the note, the broker believes that the recent share price weakness is a buying opportunity for investors. Especially given its growth plans which it feels could add upwards of $10 per share upside if they are executed successfully and market conditions improve. Another positive is that it sees limited downside risks if the plans are not successful. I think Woodside is worth a look if you're looking for exposure to energy.
