If you’re planning to make some new additions to your portfolio in August, then you may want to look at the shares listed below.
Analysts are positive on both of them and have recently named them as shares to buy now. Here’s what you need to know about them:
Afterpay Ltd (ASX: APT)
The first ASX share for investors to look at is this leading buy now pay later (BNPL) focused payments company. Afterpay has been growing at a rapid rate for a number of years thanks to the increasing popularity of its BNPL service with consumers and merchants. This has been supported by its successful expansion into the United States and the United Kingdom.
Analysts at Morgan Stanley expect this strong growth to continue. Particularly given its new pay anywhere offering in the US, its ongoing international expansion, and the upcoming launch of the highly anticipated Money by Afterpay app in Australia.
Morgan Stanley currently has an overweight rating and $145.00 price target on Afterpay’s shares. This implies significant upside over the next 12 months based on the latest Afterpay share price of $96.66.
Bapcor Ltd (ASX: BAP)
Another ASX share that is highly rated right now is Bapcor. It is the leading auto parts retail group behind brands such as Autobarn, Burson Auto Parts, and Midas.
Analysts at Goldman Sachs are very positive on the company and suspect that it could outperform expectations in FY 2021. Particularly following a strong recent update from key competitor GPC. Goldman believes the company is benefiting greatly from favourable trading conditions that are being underpinned by continued strength in consumer spending and increased vehicle ownership.
Goldman Sachs currently has a buy rating and $9.25 price target on its shares. This compares favourably to the latest Bapcor share price of $8.16.
The post Analysts name Afterpay (ASX:APT) and this ASX share as buys appeared first on The Motley Fool Australia.
Should you invest $1,000 in Afterpay right now?
Before you consider Afterpay, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Afterpay wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of May 24th 2021
More reading
- How China’s war on tech companies can hit ASX shares where it hurts
- ASX 200 falls, NAB rises, Afterpay sinks
- Why Afterpay, Redbubble, & Zip shares are sinking on Friday
- 2 ASX 200 shares tipped to positively surprise during reporting season
- Own Afterpay (ASX:APT) shares? Here’s what to look for during reporting season
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Bapcor. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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