With so many shares to choose from on the Australian share market, 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:
A2 Milk Company Ltd (ASX: A2M)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and NZ$16.50 (A$15.60) price target on this infant formula and fresh milk company's shares after reviewing the latest Taobao and Tmall sales data. Goldman's research indicates that infant formula sales as a whole were down 5% in April, but this didn't stop a2 Milk Company from delivering strong sales growth during the month. The broker estimates that Tmall sales grew 269% on the prior corresponding period, leading to strong market share gains. I would agree with Goldman on a2 Milk Company and feel it could be a great buy and hold option.
National Australia Bank Ltd (ASX: NAB)
Analysts at Morgan Stanley have upgraded this banking giant's shares from an equal-weight rating to overweight with an improved price target of $25.70. According to the note, the broker likes NAB due to the performance of its retail and business banking operations and its decision to cut its dividend. Furthermore, it believes the surprise Federal election result has lowered risks relating to credit quality and the mortgage market. I think Morgan Stanley is spot on and would agree that its shares are a buy.
Qantas Airways Limited (ASX: QAN)
Another note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and $6.91 price target on this airline operator's shares following the release of the Bureau of Infrastructure, Transport and Regional Economics (BITRE) domestic airfare data for the month of May 2019. During May there has been an 8% decline in "best discount" fares. However, this was largely expected due to a need to offset moderating demand from softening consumer sentiment and the Federal election. In light of this, the broker remains positive on Qantas and reiterates its buy rating. I agree with Goldman Sachs and think Qantas would be a good option for investors.
