Yesterday may have been a public holiday for much of Australia, but it didn't stop brokers from working on their latest recommendations.
Three that have come out favourably with buy ratings are listed below. Here's why they are in favour this week:
Catapult Group International Ltd (ASX: CAT)
According to a note out of Morgans, it has retained its add rating and $1.76 price target on the wearable technology company's shares. The broker appears to have been pleased to see Catapult become the first provider of wearable athlete tracking devices approved for in-game use by FIFA. Although the approval does not imply endorsement from FIFA, Morgans believes it should provide an advantage in signing up new customers among national governing bodies and member clubs. While I think Morgans makes a valid point, I wouldn't be a buyer of Catapult's shares until I have seen evidence that it can run profitable operations.
Costa Group Holdings Ltd (ASX: CGC)
Analysts at UBS have retained their buy rating on this horticulture company's shares after touring its north Queensland avocado and berry facilities. According to the note, the broker believes that these two categories can grow strongly over the next few years thanks to its production plans, allowing it to supply this produce all-year round. This should help the company benefit from better average pricing. While I am a huge fan of Costa Group, I would prefer to buy in at a lower price. Though that may be wishful thinking.
Qube Holdings Ltd (ASX: QUB)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $2.85 price target on this integrated provider of import and export logistics services. The broker has noted that containerised freight growth rates were up 4.3% in April, taking calendar year aggregate growth to 8.7% on the prior corresponding period. As Qube offers exposure to the growth of containerised freight trade through its Patrick Stevedoring operations, Goldman thinks it is worth considering as a buy. While it isn't a company that I follow closely, I do agree that there are tailwinds supporting its growth right now that could make it worth a closer look.