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:
Audinate Group Ltd (ASX: AD8)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $7.50 price target on this audio-visual networking solutions company’s shares. Morgan Stanley believes that Audinate’s leadership position is strengthening and expects its earnings growth to accelerate once the pandemic passes. In light of this, it sees a compelling risk/reward on offer with its shares at the current level. I agree with Morgan Stanley and would be a buyer of Audinate’s shares.
CSL Limited (ASX: CSL)
Analysts at UBS have retained their buy rating and $346.00 price target on this biotherapeutics giant’s shares. According to the note, the broker believes that plasma collection headwinds are now well-known by the market and priced into its shares. In light of this, it feels investors should be focusing on the future, which appears very positive to the broker due to its research and development pipeline. I think UBS is spot on and CSL is well-positioned for growth over the long term.
Newcrest Mining Limited (ASX: NCM)
A note out of Citi reveals that its analysts have upgraded this gold miner’s shares to a buy rating with a $37.00 price target. The broker made the move after the Newcrest board approved the expansion of its Cadia operation last week. It also notes that approval has been granted for Lihir to increase its production via a Front End Recovery Project. It appears optimistic that its earnings will pick up following these developments. While it isn’t my preferred pick in the gold sector, I think it could be worth considering.
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Returns as of 6th October 2020
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AUDINATEGL FPO and CSL Ltd. The Motley Fool Australia has recommended AUDINATEGL FPO. 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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