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:
Audinate Group Ltd (ASX: AD8)
According to a note out of UBS, its analysts have retained their buy rating but cut the price target on this media networking technology company's shares to $7.30. The broker is a big fan of Audinate's Dante product and believes it has a massive long term market opportunity. And while it does expect sales to soften over the coming quarters due to the pandemic, the broker believes it is well worth looking beyond this and focusing on its long term potential. I agree with UBS and feel Audinate would be a great buy and hold option for investors.
REA Group Limited (ASX: REA)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $105.00 price target on this property listings company's shares. It was pleased with its latest quarterly update given the tough trading conditions it was facing. And while conditions in the industry continue to be tough, the broker remains positive on its long term prospects. Especially given the structural tailwinds it is benefiting from. I agree with Morgan Stanley and feel REA Group is a top blue chip to own.
Reject Shop Ltd (ASX: TRS)
Analysts at Goldman Sachs have upgraded this discount retailer's shares to a buy rating from sell and put a price target of $4.75 on them. Goldman likes Reject Shop due to its turnaround story with a new executive team, a more robust balance sheet, and the potential for material improvements in efficiencies in labour, rent and stock turn. It also notes that its valuation is supported by a cash balance that was 28% of its market capitalisation based on its last closing price. While I'm not a big fan of Reject Shop, I think Goldman Sachs makes some very good points.
