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 Ord Minnett, its analysts have retained their buy rating and lifted their price target on this gaming technology company's shares to $30.30. The broker believes that lockdowns and casino closures will be a big win for the company's Digital business. It feels the business will be benefitting from improving monetisation as consumers spend more time playing gaming apps. I agree with Ord Minnett on this one and feel Aristocrat Leisure would be a great option.
Coles Group Ltd (ASX: COL)
Analysts at Morgan Stanley have upgraded this supermarket operator's shares to an overweight rating with an improved price target of $17.75. According to the note, the broker believes supermarkets are well-placed for revenue growth in the current market. And while the broker expects a recession to follow the crisis, it feels Coles is one of the best-placed companies to weather the storm. I think Morgan Stanley is spot on and Coles would be a top investment option at present.
Westpac Banking Corp (ASX: WBC)
A note out of Morgans reveals that its analysts have retained their add rating but trimmed the price target on this banking giant's shares to $19.50. According to the note, the broker suspects that Westpac may have to suspend or defer its next dividend following APRA's request. Despite this, Morgans remains positive on the banking giant and believes that its shares offer investors decent value. While I agree that Westpac's shares are good value, it wouldn't be my first pick in the sector at the moment.
