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 UBS, its analysts have retained their buy rating but cut the price target on this gaming technology company's shares to $31.50. The broker has been looking into the impact of the pandemic on Aristocrat Leisure's shares. It estimates that its NPATA will fall to $450 million in FY 2020 before rebounding to $1 billion in FY 2021. I agree with UBS on this one and feel it is worth being patient due to its solid long term growth potential.
Brambles Limited (ASX: BXB)
Analysts at Goldman Sachs have retained their conviction buy rating and $14.66 price target on this supply chain logistics company's shares. According to the note, it believes Brambles presents a highly defensive investment and notes that it is delivering positive sales and profit growth despite the COVID-19 pandemic. Another positive is its very strong balance sheet which has $1.1 billion of cash and US$1.3 billion in undrawn facilities. I think Goldman makes some great points and Brambles could be worth a closer look.
Coca-Cola Amatil Ltd (ASX: CCL)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating but trimmed the price target on this beverage company's shares to $10.00. Although the broker expects Coca-Cola Amatil's earnings to take a hit this year because of the pandemic, it still sees value in its shares at the current level. Especially given its strong cash balance and low exposure to small to medium sized businesses. At around 16.5x estimated FY 2021 earnings, I think value is emerging in Coca-Cola Amatil's shares.
