With most brokers taking a break over the holiday period, research notes are few and far between right now.
But don't worry! Listed below are three recent broker buy recommendations that still have plenty of upside potential.
Here's why brokers think these ASX shares are in the buy zone:
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Catapult Group International Ltd (ASX: CAT)
According to a note out of Bell Potter, its analysts retained their buy rating on this sports technology solutions company's shares with an increased price target of $4.00. The broker increased its valuation for Catapult's shares in response to the re-rating of comparable tech peers to higher multiples. This saw Bell Potter lift the multiple it applies in its EV/revenue valuation for the company from 4.75x to 5.5x. However, it noted that this is still short of some other ASX tech stocks with similar growth profiles. As a result, it feels that Catapult's shares look good value at current levels. The Catapult share price is currently trading at $3.53.
Collins Foods Ltd (ASX: CKF)
A note out of Morgans revealed that its analysts retained their add rating and $10.50 price target on this KFC and Taco Bell restaurant operator's shares. This followed the release of the company's half year results late last year. Morgans notes that these results were slightly ahead of its expectations. And while the broker conceded that Collins Foods' outlook commentary was a touch disappointing and softer than it was anticipating, it saw enough to remain positive on the stock. Especially given Collins Foods' strong cash generation and improving same store sales from the key KFC Australia business. The Collins Foods share price is fetching at $7.28 at the time of writing.
WiseTech Global Ltd (ASX: WTC)
Analysts at Macquarie retained their outperform rating and $152.70 price target on this logistics solutions technology company's shares. According to the note, the broker was pleased with what it saw at the company's recent investor day event. Macquarie highlights that while the short term delay of a key product launch was a touch disappointing, this doesn't change anything on a longer term view. The broker points out that the quality of WiseTech Global's products is very high and is expected to drive strong growth in the future. Especially with its founder CEO, Richard White, stepping back into a role that allows him to focus almost entirely on developing products to cover all parts of the value chain. The WiseTech Global share price is trading at $127.05 this afternoon.
