It has been another busy week of broker moves ahead of earnings season.
Three shares that have found favour with brokers and been given buy ratings are listed below. Here's why they are tipped to rise:
Corporate Travel Management Ltd (ASX: CTD)
According to a note out of Morgans, it has retained its add rating and lifted the price target on the corporate travel manager's shares to $32.25 from $24.50. The broker has made the move on the back of its belief that the recent acquisition of Hong Kong-based Lotus Travel could be a significant boost to earnings over the next few years. I agree with Morgans on Corporate Travel Management and believe it is a great option for investors even after a strong year-to-date return.
Livetiles Ltd (ASX: LVT)
A note out of Citi reveals that its analysts have retained their buy (high risk) rating with an increased price target of 88 cents. According to the note, the broker has become more confident on LiveTiles achieving its forecasts thanks to its partnership with sales and marketing specialist N3. Citi suspects that FY 2019 could be a big year for the technology company as its recently engaged sales team hit full momentum. I've been very impressed with LiveTiles' progress this year and its burgeoning relationship with tech giant Microsoft. While it is still, as Citi points out, a high risk investment, it could be worth considering a small position.
Macquarie Group Ltd (ASX: MQG)
Analysts at Morgan Stanley have retained their overweight rating and $130.00 price target on the investment bank's shares following yesterday's annual general meeting. The broker was not surprised by the retirement of Macquarie's CEO and believes that Shemara Wikramanayake is a great replacement. Although Macquarie held firm with its guidance, the broker remains confident that it will outperform profit expectations in the first-half. I would agree with Morgan Stanley on Macquarie and believe it will continue its impressive form under its new CEO.
