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:
James Hardie Industries plc (ASX: JHX)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and lifted the price target on this building supplies company’s shares to $35.90. The broker was pleased with James Hardie’s performance in 2019 and believes it could repeat its fine form in 2020. Especially if the U.S. housing market improves and its margins continue to remain elevated. I think Morgan Stanley could be on the money with this one.
Scentre Group (ASX: SCG)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $4.29 price target on this shopping centre operator’s shares. According to the note, the broker has been looking at recent store closures and estimates that the total number of closures within Scentre’s portfolio will be 73 stores if JeansWest (which is in administration) also closes down. This equates to ~0.6% of the ~12,000+ retail stores in operation across its portfolio. Goldman notes that January is usually a bad month for closures and thus sees no reason to panic. In light of this, it retains its buy rating. I would agree with Goldman and be a buyer of Scentre’s shares. Especially given its generous distribution yield.
Sezzle Inc (ASX: SZL)
Analysts at Ord Minnett have retained their buy rating and lofty $3.40 price target on this buy now pay later provider’s shares. According to the note, the broker was pleased to learn that Sezzle has now received its California Financing Law licence. It believes this provides certainty for investors and the company can now move on from issues that emerged at the end of last year. Whilst I think Sezzle is worth watching, I have a preference for a couple of its larger rivals.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Scentre Group and Sezzle Inc. 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.