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:
CSL Limited (ASX: CSL)
According to a note out of UBS, its analysts have upgraded this biotherapeutics company’s shares to a buy rating from neutral and lifted the price target on them to a lofty $295.00. The note reveals that UBS believes market conditions are very favourable right now. In addition to this, it feels CSL is likely to grow ahead of its peers thanks to its plasma collection expansion. I agree with UBS on CSL and would class its shares as a buy.
QBE Insurance Group Ltd (ASX: QBE)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted the price target on this insurance giant’s shares to $14.00. According to the note, the broker likes QBE due to the simplification of its business and the de-risking of its portfolio. It believes its outlook is positive and expects net earned premium growth in the region of ~3.5% next year. I’m not a big fan of QBE due to inconsistent performance, but it could be worth a closer look.
REA Group Limited (ASX: REA)
Analysts at Goldman Sachs have retained their buy rating but trimmed the price target slightly on this property listings company’s shares to $122.00 following its first quarter update. According to the note, the broker remains buy-rated due to its attractive near-term earnings outlook as listings volumes recover. In addition to this, it is very positive on its long-term opportunity to grow its earnings in large addressable markets. I agree with Goldman and think REA Group would be a great long-term investment.
These 3 stocks could be the next big movers in 2020
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended REA Group 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.