With so many shares to choose from on the ASX, 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:
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Redbubble Ltd (ASX: RBL)
According to a note out of Goldman Sachs, its analysts have upgraded this ecommerce company's shares to a buy rating with a $2.35 price target. The broker made the move after Redbubble's very strong trading update led to a revision to its estimates. Goldman has lifted its EBITDA estimates materially over the next couple of years to reflect higher revenues and lower customer acquisition costs. I think Goldman Sachs makes some good points and Redbubble could be worth a closer look.
Sigma Healthcare Ltd (ASX: SIG)
Analysts at Citi have upgraded this pharmacy chain operator and wholesaler's shares to a buy rating with a 75 cents price target. The broker has been looking at the industry following the announcement of the new Community Pharmacy Agreement. This agreement aims to improve patient choice and health literacy about access to medicines through community pharmacies. Citi appears to have seen enough positives in it to upgrade Sigma's shares. I'm not a big fan of Sigma, but it could be worth a closer look following this agreement.
Treasury Wine Estates Ltd (ASX: TWE)
A note out of UBS reveals that its analysts have retained their buy rating and $14.80 price target on this wine company's shares. Although the broker's research indicates that Treasury Wine is continuing to lose market share in the United States, it feels investors should be focusing on the future. It sees a lot of value in its shares given its strong balance sheet, the restructure of the Americas business, and the potential spin off of the Penfolds business. I agree with UBS and feel Treasury Wine would be a good buy and hold option.
