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:
Evolution Mining Ltd (ASX: EVN)
According to a note out of Citi, its analysts have retained their buy rating and $4.40 price target on this gold miner's shares. Although it acknowledges that its production was disappointing during December, the broker remains positive on the investment opportunity here. Especially given a sharp pullback in its share price over the last few months. Citi likes Evolution due to its ultra low all-in sustaining costs. I think Citi makes some good points and Evolution could be worth considering if you're wanting exposure to gold.
Metcash Limited (ASX: MTS)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted the price target on this wholesale distributor's shares to $2.95. According to the note, the broker believes that cyclical issues that have been weighing on the company are now reversing. This could make it a good time to invest, especially given the underappreciated diversity of its earnings and conservative debt leverage. Whilst I think the broker makes some good points, I'd like to see a few strong quarters before investing.
Praemium Ltd (ASX: PPS)
Analysts at Goldman Sachs have retained their buy rating and 64 cents price target on this investment platform company's shares following a quick look through its quarterly update. According to the note, Praemium delivered a result that was largely ahead of its expectations. For example, Australian closing platform FUA was A$7,093 million, ahead of Goldman's estimate of A$6,882 million. I agree with Goldman and would be a buyer of Praemium's shares.
