Do you have $2,000 to invest into the share market? If you do, then it could pay to listen to what brokers are saying about the top Australian shares listed below.
Here's why they are being tipped as buys right now:
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ResMed Inc. (ASX: RMD)
The first top Australian share to consider with your $2,000 is ResMed. It is a leading sleep disorder treatment company with a world class portfolio of devices and software to treat sleep apnoea and other conditions.
Although it is now based out of San Diego in the United States, ResMed has its origins in Sydney. So, for the purpose of this article, I think we can class it as an Australian share.
Which is good news because Goldman Sachs is feeling very bullish about the company. It recently said:
RMD is the world's leading CPAP manufacturer of devices and masks in the treatment of OSA. The company has expanded to providing software services to out of hospital healthcare providers including Durable Equipment Manufacturers (DMEs), nursing homes and home health and hospice agencies.
Our Buy recommendation on RMD is premised on (1) Ongoing robust new patient growth for CPAP therapy despite the market entry of GLP-1 drugs to treat OSA, (2) Further RMD market share gains, building on its #1 global market position, (3) Expansion of the OSA market in regions outside of the US. We believe the stock's current trading multiple is unjustified based on its growth outlook.
Goldman has a buy rating and $49.00 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
Another top Australian share that could be a great option for a $2,000 investment is WiseTech Global.
It is a leading global provider of software solutions to the logistics services industry. Its CargoWise One platform is a market leading solution that is used by many of the largest logistics providers in the world.
Bell Potter thinks the company would be a top pick for investors due to its very positive growth outlook. It said:
WTC has a high degree of recurring revenue (80-85%) and should continue to grow its revenue/earnings from further customer wins. We see CargoWise as the market leader in freight forwarding software and expect growth to accelerate due to the launch of three new products, as well as ongoing global roll-out wins.
All up, WTC is a growth story with strategic acquisitions representing upside potential enabling WTC to benefit from large-scale global rollouts and consolidation within the logistics sector.
Bell Potter currently has a buy rating and $140.00 price target on its shares.
