There are a good number of shares for investors to choose from on the Australian share market.
Three that could be top options right now are listed below. Here's why analysts think they are in the buy zone:
Elders Ltd (ASX: ELD)
Elders is one of Australia's largest agribusiness companies. After going through a very tough time during the 2010s, things are now looking increasingly positive for the company. This has been driven largely by the success of Elders' transformation plan and acquisitions. Pleasingly, Goldman Sachs is confident this positive form will continue. So much so, its analysts have a conviction buy rating and $15.65 price target on its shares. The broker likes Elders due to the rationalisation of the rural services industry, margin expansion through backward integration, its strong balance sheet and cash flow, and the benefits of its large scale systems modernisation project.
Healius Ltd (ASX: HLS)
Healius is one of Australia's leading pathology and diagnostic imaging providers. Its healthcare network has been performing particularly positively over the last 18 months thanks to a robust performance from its core business and elevated demand for COVID-19 testing. The good news is that this has continued in FY 2022. For example, during the first quarter, Healius reported a 43.7% increase in group quarterly revenue to $689.9 million. And while its growth rate will inevitably slow once testing demand eases, the team at Macquarie still see a lot of value in its shares at the current level. The broker currently has an outperform rating and $5.65 price target on its shares.
ResMed Inc. (ASX: RMD)
ResMed is a medical device company with a focus on the sleep treatment market. Its masks and software help sufferers of afflictions such as sleep apnoea and COPD. These are huge markets, which provide ResMed with a long runway for growth over the next decade. Particularly given its industry leadership position and high level of investment in research and development. The latter is keeping its portfolio filled with world class products. Morgans is a fan of ResMed and has an add rating and $40.80 price target on its shares.
