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:
NEXTDC Ltd (ASX: NXT)
According to a note out of Morgans, its analysts have upgraded this data centre operator’s shares to an add rating with a $6.68 price target. The broker notes that its strong performance is being supported by structural growth. And while it has previously had concerns over the market’s high expectations, it notes that forecasts have now pulled back to more achievable levels. I agree with Morgans on NEXTDC and believe it is well-placed for growth thanks to the shift to the cloud.
Qube Holdings Ltd (ASX: QUB)
Analysts at Goldman Sachs have retained their buy rating and $3.57 price target on this import and export logistics services provider’s shares. Although port volumes declined again in August, the broker continues to be positive on Qube. It believes FY 2020 will be a solid year thanks to the resurgence of Patrick Stevedores, the commissioning of its Moorebank operation, and a recovery in Logistics. Whilst I think Goldman Sachs makes some good points, I would prefer to wait for volumes to rebound before considering an investment.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
A note out of the Macquarie equities desk reveals that its analysts have upgraded this airport operator’s shares to an outperform rating and lifted the price target on them to $8.77. According to the note, although Sydney Airport’s shares have rallied notably higher this year, the broker believes that they are still good value. It pointed to the recent sale of Hobart Airport as a sign that there is still a lot of value left in the company’s shares. I agree with Macquarie on Sydney Airport and would be a buyer of its shares today.
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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. 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.