Last week was another busy one filled with trading updates, economic data releases, and corporate developments.
Unsurprisingly, this led to a large number of broker notes doing the rounds.
Three buy ratings that caught my eye are summarised below. Here’s why brokers are tipping them as shares to buy:
Costa Group Holdings Ltd (ASX: CGC)
According to a note out of the Macquarie equities desk, it has retained its outperform rating but slashed the price target on this horticulture company’s shares to $5.55 following its surprise profit warning. Although the broker was disappointed with its update, it appears confident that it is still well-positioned to achieve its long-term earnings growth targets. Whilst I agree that this looks to be the case, I intend to hold fire on an investment until trading conditions have improved.
Pilbara Minerals Ltd (ASX: PLS)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and $1.15 price target on this lithium miner’s shares. According to the note, the broker believes that Pilbara Minerals is the best option in the lithium sector on the Australian share market right now. This is due to a number of factors including the quality of its assets, valuation, current risk profile, and positive growth prospects. I think Credit Suisse makes a great point on Pilbara Minerals and feel it could be worth considering if you believe lithium prices are going to remain favourable.
Super Retail Group Ltd (ASX: SUL)
Analysts at Goldman Sachs have retained their buy rating and $9.85 price target on this retail group’s shares. Super Retail’s shares have been sold off in recent months following the resignation of its CEO and concerns over the outlook for consumer spending. According to the note, while Goldman acknowledges that these factors may weigh on its performance in the near term, it thinks the selloff has been overdone and created a buying opportunity for investors. I agree with Goldman on Super Retail and think it would be a great option for investors looking to invest in the retail space.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia owns shares of Super Retail Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.