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:
Ansell Limited (ASX: ANN)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this safety products company's shares to $42.50. Credit Suisse is expected Ansell to deliver a solid result in FY 2020 thanks to strong demand for personal protective equipment. It has forecast full year earnings before interest and tax of US$212 million. This compares to US$202.8 million a year earlier. Pleasingly, the broker believes the increase in demand is structural and will last beyond the pandemic. While I think Ansell could be a decent option for investors, I would like to see signs that this is a structural change before investing.
IDP Education Ltd (ASX: IEL)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating but cut the price target on this student placement and language testing company's shares to $17.00. According to the note, the broker has revised its earnings forecasts lower for the next couple of years to reflect a more prolonged impact from COVID-19. Nevertheless, it believes IDP Education's future is very bright and sees the longer-term structural growth profile of international education remaining robust. It also feels the company is better positioned to navigate the crisis than its unlisted peers. I agree with Goldman Sachs and feel IDP Education could be a great long term investment option.
Nearmap Ltd (ASX: NEA)
Analysts at Citi have retained their buy rating and lifted their price target on this aerial imagery technology and location data company's shares to $2.75. According to the note, the broker is a fan of its artificial intelligence product and believes it is going to be a key driver of growth over the medium term. I agree with Citi and would be a buyer of Nearmap's shares right now.
