Afterpay is strongly positioned versus its buy-now-pay-later competitors due to its capability to partner widely, and popularity with retailers and consumers, Bell Potter says. Annual sales are growing about twice as fast as those at NYSE-listed Shopify, which has signaled its intention to enter the buy-now-pay-later space, Bell Potter says. Comparing valuations by this metric, the broker suggests Australia-listed Afterpay's recent share price surge isn't excessive. The stock has risen more than six-fold in the past 10 weeks but Bell Potter nonetheless raises its target price 26% to A$65.00. Shares are down 1.5% at A$51.40.
APT Price at posting:
$51.00 Sentiment: Sell Disclosure: Not Held
