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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Citi, its analysts have retained their buy rating and $39.50 price target on this gaming technology company’s shares. The broker appears confident that Aristocrat Leisure is winning market share in the lucrative United States market. This should underpin strong sales and earnings growth in FY 2020. I agree with Citi and feel Aristocrat Leisure is a great option for investors even after its strong gain over the last 12 months.
Praemium Ltd (ASX: PPS)
Analysts at Goldman Sachs have retained their buy rating and lifted the price target on this investment platform provider’s shares to 68 cents. According to the note, the broker was pleased with Praemium’s performance during the second quarter. As a result, it appears increasingly confident that Praemium will report a solid half year result in February. Goldman has pencilled in sales of $24.5 million and underlying EBITDA of $6.9 million. This represents an 11% and 36% increase, respectively, over the prior corresponding period. I think Goldman makes some great points and Praemium could be worth considering.
ResMed Inc. (ASX: RMD)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted the price target on this sleep treatment company’s shares to $24.30. According to the note, the broker believes the next round of changes to the reimbursement rate in the United States could boost its resupply revenue. It also feels that it is better positioned than many of its rivals to benefit from the changes. I agree with Morgan Stanley and would be a buyer of ResMed’s shares with a long term view.
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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 Praemium Limited. The Motley Fool Australia has recommended Praemium Limited and ResMed 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.