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:
Bapcor Ltd (ASX: BAP)
According to a note out of Citi, its analysts have initiated coverage on this auto parts retailer's shares with a buy rating and $6.00 price target. It has been looking into its expansion into the Thailand market and believes it could be more lucrative that the market expects. In addition to this, it likes Bapcor for its defensive qualities and believes margin expansion could be on the cards in the near future. I think Citi makes some great points and Bapcor could be well worth considering.
NEXTDC Ltd (ASX: NXT)
Analysts at UBS have retained their buy rating and lifted the price target on this data centre operator's shares to $10.70. According to the note, the broker believes that increasing demand for capacity within its data centres is de-risking its earnings growth over the coming years. In light of this and its strong performance in an uncertain economic environment, it feels its shares deserve to trade at a premium. I agree with UBS and would be a buyer of NEXTDC's shares with a long term view.
ResMed Inc. (ASX: RMD)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and trimmed their price target on this medical device company's shares slightly to $27.00. According to the note, the broker was impressed with its third quarter update and believes its ventilator/respiratory business can provide a material mitigation to near-term challenges in the sleep business. Outside this, the broker remains positive on its long term prospects and expects the company to retain its leadership position. I think Goldman Sachs is spot on and ResMed would be a great portfolio addition.
