With so many shares to choose from on the S&P/ASX 200 Index (ASX: XJO), 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:
Appen Ltd (ASX: APX)
According to a note out of the Macquarie equities desk, its analysts have commenced coverage on this artificial intelligence company's shares with an outperform rating and $38.00 price target. The broker believes that Appen's Relevance segment has a sizeable opportunity in a fragmented and growing data preparation market. I agree with Macquarie and believe Appen is one of the best buy and hold options for investors.
IDP Education Ltd (ASX: IEL)
Analysts at Morgan Stanley have retained their overweight rating and $17.50 price target on this student placement and language testing company's shares. Although the broker acknowledges that there is a lot of uncertainty due to the pandemic, it appears to believe the company will be in a stronger position once the crisis passes. I think that Morgan Stanley is spot on and believe IDP Education could be a great long term investment.
Seven Group Holdings Ltd (ASX: SVW)
A note out of Goldman Sachs reveals that its analysts have reiterated their buy rating and lifted their price target on this diversified investment company's shares to $21.00. The broker is a fan of Seven Group due to an attractive combination of near-term earnings resiliency and longer-term cyclical growth. It notes that the company is benefiting from healthy mining activity and better than expected construction activity. While it isn't a share which I'm a big fan of, I think that Goldman makes some very good points. This could make it worth taking a closer look.
