With so many quality shares to choose from in the Australian share market it can be hard to decide which ones to buy.
The good news is that brokers across Australia have done the hard work to make life easier for investors.
Here are three shares that have been given buy ratings today:
JB Hi-Fi Limited (ASX: JBH)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $32.00 price target on the retailer’s shares. The broker has held firm with its recommendation despite the company’s disappointing trading update yesterday which revealed a surprise profit guidance downgrade. Morgan Stanley appears to have seen enough in the JB Hi-Fi brand’s solid performance to continue recommending it as a buy. While I agree that the JB-Fi brand performed well, I was alarmed by the Good Guys’ poor performance and I’m concerned this isn’t a one of. I intend to stay clear of the company’s shares.
Qantas Airways Limited (ASX: QAN)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted the price target on the airline’s shares to $7.15 from $6.90. According to the note, the broker was pleased with its strong performance in the March quarter and is confident that Qantas will be able to offset higher fuel costs in FY 2019. I would have to agree with Credit Suisse on this one and think Qantas is a great option for investors after yesterday’s update.
Woolworths Group Ltd (ASX: WOW)
Analysts at UBS have retained their buy rating and increased the price target on the retail conglomerate’s shares to $30.00 from $28.90. According to the note, Woolworths’ sales update for the March quarter was stronger than the broker expected. Furthermore, UBS believes that the outlook in the grocery category is improving and there are signs that price deflation is easing. While I’m not a huge fan of Woolworths, I do think it is starting to look attractive again now the outlook for its supermarket business is improving.