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:
Breville Group Ltd (ASX: BRG)
According to a note out of UBS, its analysts have retained their buy rating and lifted their price target on this appliance manufacturer's shares to $29.90. This follows the announcement of its acquisition of coffee grinding company Baratza for US$60 million. UBS notes that the company has made similarly successful bolt-on acquisitions in the past and expects this one to be approximately 3% accretive to earnings. I agree with UBS and feel Breville would be a good option for investors.
CSL Limited (ASX: CSL)
Another note out of UBS reveals that its analysts have retained their buy rating and $346.00 price target on this biotherapeutics company's shares. The broker notes that recent industry data shows that immunoglobulins demand has been strong in 2020, while albumin demand has softened. Outside this, the broker believes CSL's plasma collections could be down 20% between April and September because of the pandemic. However, it appears confident that collections will recover shortly and holds firm with its buy rating. I think UBS is spot on and investors should take advantage of recent weakness in the CSL share price.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
Analysts at Goldman Sachs have reaffirmed their buy rating and lifted the price target on this airport operator's shares to $7.02. According to the note, the broker believes that Sydney Airport is well-positioned to benefit from a stronger and quicker than expected recovery in the domestic travel market. And while it expects this to lead to a 14 cents per share distribution in FY 2021, a more normal 26 cents per share distribution is expected in FY 2022. The latter equates to a 4.4% yield. I agree with Goldman Sachs and feel Sydney Airport would be a top option for income investors.
