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.
Where to invest $1,000 right now
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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.
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