While most investors focus on the S&P/ASX 200 Index (ASX: XJO), there are also high-potential shares sitting outside the benchmark index and within the lesser followed ASX 300 Index.
To narrow things down, let's look at three ASX 300 shares that analysts think could be buys now.
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Catapult Sports Ltd (ASX: CAT)
The first ASX 300 share that is being tipped as a buy is Catapult.
It is a sports technology company that helps professional teams measure performance, workload, movement, and tactical data.
Its products are used by sporting teams that want better insight into how athletes train, recover, and perform. This is becoming increasingly important as elite sport becomes more data driven.
The interesting part of Catapult's story is that it is not just selling hardware. The company is building a platform that can become more valuable as teams rely on its data and software across multiple parts of their operations.
That gives it a global growth opportunity in a specialist market where customers can be sticky if the product becomes part of their daily workflow.
Bell Potter is positive on the company and has a buy rating and $4.65 price target on its shares. This implies potential upside of approximately 52%.
Collins Foods Ltd (ASX: CKF)
Another ASX 300 share that brokers are bullish on is Collins Foods.
It is best known as a major KFC operator. It owns and operates restaurants across Australia and parts of Europe, giving it exposure to one of the world's most recognisable quick-service restaurant brands.
The business has faced pressure from higher costs, softer consumer conditions, and margin challenges in recent times. But this is also a company with a proven operating model and exposure to a category that can remain resilient when consumers trade down from more expensive dining options.
Morgans sees a lot value at current levels and has a buy rating and $12.50 price target on its shares. This suggests potential upside of approximately 47%.
DigiCo Infrastructure REIT (ASX: DGT)
A third buy-rated ASX 300 share to consider is DigiCo Infrastructure REIT.
It gives investors exposure to data centre infrastructure. This is an area that has become increasingly important as artificial intelligence, cloud computing, and digital services require more computing capacity.
It is of course not risk-free. Data centres require significant capital, and property trusts can be sensitive to debt costs, interest rates, and investor sentiment.
But for investors wanting exposure to digital infrastructure outside the usual large-cap names, DigiCo is an option.
Bell Potter has a buy rating and $3.40 price target on its shares. This implies potential upside of approximately 33%.
