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:
Domino’s Pizza Enterprises Ltd (ASX: DMP)
According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating and lifted the price target on this pizza chain operator’s shares to $55.30. The broker made the move after attending its investor day event. Goldman left the event feeling confident in the company’s long term growth prospects in all regions. It also sees no reason for investors to worry about the aggregators threat and sees both positive and negatives from the rise of UberEATS et al. I agree with Goldman and see it as a good long term option for investors.
Orora Ltd (ASX: ORA)
Analysts at Morgans have retained their add rating and lifted the price target on this packaging company’s shares to $3.34. According to the note, the broker believes that Orora is receiving a very attractive price for its Australasian fibre business. It also believes that it will improve the company’s defensiveness and margins. Overall, Morgans appears confident on its future prospects. Whilst I agree that this asset sale is a good one, I’m not a buyer of its shares at this level. Especially given the industry’s challenges.
St Barbara Ltd (ASX: SBM)
A note out of Credit Suisse reveals that its analysts have upgraded this gold miner’s shares to an outperform rating with a $3.50 price target following the release of its first quarter update. According to the note, the broker appears pleased with the outlook for the recently acquired Atlantic Gold business. Combined with an increase to its gold price forecasts, this has led to the broker upgrading its shares to outperform. I agree with Credit Suisse and feel St Barbara could be a good option for investors seeking exposure to gold.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Domino's Pizza Enterprises 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.