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:
Bapcor Ltd (ASX: BAP)
According to a note out of Citi, its analysts have retained their buy rating and $6.85 price target on this auto parts company’s shares. The broker has been looking into the retail sector and the potential impacts of the removal of the JobKeeper program. It believes this will have a limited impact on Bapcor and remains positive on its outlook. Especially given its belief that it will benefit from increasing personal transport use. The broker also sees opportunities for Bapcor to grow in the Thai market. I think Citi makes some good points and Bapcor could be worth considering.
OceanaGold Corp (ASX: OGC)
Analysts at Credit Suisse have upgraded this gold miner’s shares to an outperform rating with an improved price target of $4.10. It made the move after the release of its second quarter production update late last week. Although it notes that its production guidance has been downgraded, this was for reasons outside the company’s control. Overall, the broker appears very positive on its long term growth potential and believes its shares are great value at the current level. I would agree that it could be worth taking a closer look at.
Super Retail Group Ltd (ASX: SUL)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $10.30 price target on this retailer’s shares. The broker was pleased with Super Retail’s recent update and believes it was supportive of its investment thesis. Goldman is positive on the company due to its belief that it will benefit from more domestic travel, increased usage of private transport, and home fitness equipment demand as a result of the pandemic. The broker also notes that its shares are currently trading at ~12.4x earnings, which is a 25% discount to its historical average. I think Goldman Sachs is spot on and Super Retail could be a good retail option.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bapcor and Super Retail Group Limited. 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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