Bell Potter reiterated its 'buy' rating for WiseTech Global. The firm set a price target of $71.75, implying a potential upside of over 100%. WiseTech's share price is approximately $34.95.
Analysts noted WiseTech underperformed during a recent ASX tech rally. This underperformance was attributed to several negative factors. Bell Potter anticipates these concerns will lessen. The firm expects WiseTech to meet its FY26 guidance, which could provide a positive catalyst for the stock.
Bell Potter highlighted WiseTech trades at a significant discount to peers, such as Technology One. This positive outlook follows a year of material underperformance for the company's shares.