Analysts name Afterpay (ASX:APT) and this ASX share as buys

Here are two ASX shares that could be buys…

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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:

A businessman lights up the fifth star in a lineup, indicating positive share price for a top performer

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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.

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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