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Leading broker names the ASX tech shares to buy in 2021

Bell Potter has named Afterpay Ltd (ASX:APT) and these ASX tech shares as the ones to buy in 2021. Here’s why…
The post Leading broker names the ASX tech shares to buy in 2021 appeared first on The Motley Fool Australia. –

asx shares involved with cloud tech represented by illuminated cloud on circuit board

Analysts at Bell Potter have been busy finding ASX shares from several industries that they believe are best placed to have a strong 2021.

On this occasion, I’m going to look at the tech sector. Here are a few shares they rate highly:

Life360 Inc (ASX: 360)

This family safety app provider is Bell Potter’s top pick in the sector. It has a buy rating and lofty $7.70 price target on its shares.

Bell Potter notes that the company is carving out a significant global footprint with its family app at the core. The broker also believes it will benefit greatly once the pandemic passes and people are on the move again.

It explained: “The company delivered a significant membership feature launch in the middle of 2020, and the benefits of this are set to flow through over the medium-term. As a location sharing app, we see this as a COVID recovery stock, as when people start moving around again (particularly in the key US market), we anticipate the usage to increase.”

Afterpay Ltd (ASX: APT)

The broker remains bullish on this payments company and has a buy rating and $140.00 price target on its shares. Bell Potter believes there is a significant pipeline of catalysts that will support the company’s growth in the future.

It explained: “These include further integration with other key e-commerce and payment infrastructure players in the market, further growth in customers and GMV in the US and UK as spending ramps up ahead of Christmas, a healthy Net Transaction Margin (with bad-debts remaining low) to continue into 2021 and commentary on progress made with regard to its international expansion.”

Uniti Group Ltd (ASX: UWL)

Another tech share which the broker has tipped as a buy is Uniti. It is the owner and operator of private fibre networks and is also a provider of value-add telecommunications services in niche markets. The broker has a buy rating and $1.85 price target on its shares.

Bell Potter commented: “The company has grown rapidly through both organic growth and a number of acquisitions over the past 18 months and just recently acquired key competitor Opticomm which significantly strengthens its market position.”

“We are positive on the outlook for the combined company given the strong pipeline and also the potential for synergies to be greater than flagged. We also see the stock as a potential takeover target over the next six to twelve months,” it added.

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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 AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Leading broker names the ASX tech shares to buy in 2021 appeared first on The Motley Fool Australia.

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