3 top ASX stock ideas from Livewire Live 2026

Where is the value on the ASX?

That was both the title of the panel session – and the ultimate question – posed to three leading Australian equity investors at Livewire Live 2026: 

• First Sentier Investors' Dushko Bajic
• L1 Capital's James Hawkins
• Ausbil Investment Management's Arden Jennings 

The wide-ranging discussion covered interest rates, reporting season, valuations, where opportunities are emerging and the parts of the market the trio are avoiding.

We'll be releasing the full panel discussion shortly. But before wrapping up, moderator Matthew Kidman of Centennial Asset Management asked each investor to put forward one ASX stock they believe offers an attractive opportunity today.

Here is a summary of their best ideas.

1. WiseTech Global (ASX: WTC) - Dushko Bajic

The “SaaS-pocalypse” may be turning into “SaaS-celeration” – and Bajic thinks Australian investors haven't caught on yet.

U.S. software stocks have staged a remarkable recovery, with names including Salesforce, Microsoft and Palantir rebounding close to their 2025 highs, after halving during the rout.  

Australian software hasn't received the memo: WiseTech remains around 64% below its year-ago price, while Xero and Catapult have also been hammered. That's exactly where Bajic sees the opportunity.

“I think the next 12 months the narrative will shift... and that's where the mispricing primarily is," Bajic says.

For WiseTech specifically, Bajic believes investors are underestimating the impact of its transition from seat-based to transaction-based pricing. He expects organic revenue growth to bottom at around 6% in the first half of FY27 before accelerating again.

Importantly, investors aren't being asked to pay the eye-watering multiples historically associated with the stock. WiseTech is now trading at around 22 times earnings, prompting a particularly spicy comparison from Bajic:

“WiseTech, superior to Telstra, [with the] same PE. Have a think about that.”

Given the divergence between WiseTech and its US peers, Bajic reckons the stock could “comfortably triple from here.”

2. The Lottery Corporation (ASX: TLC) - Hawkins

Hawkins' pick conveniently hit a 12-month low just one day before he took to the Livewire Live stage.

But he believes The Lottery Corporation's recent weakness is obscuring the quality of an economically resilient, infrastructure-like business.

“If you have a look across the globe, including in Australia, during recessions and downturns people still go and buy their lottery tickets. So it's a very resilient product," he says.

Its lottery licences stretch beyond 2050, while Hawkins believes new CEO Wayne Pickup can cut costs and introduce new products and games to drive earnings growth.

There's also an unusual reason earnings have recently been under pressure: punters have simply been too lucky. Hawkins said TLC is experiencing a one-in-45-year sequence in which jackpots have repeatedly been won before reaching the enormous levels that typically send ticket sales soaring.

“When the lottery jackpots skyrocket, so do the sales... It's a statistical probability that normality will return. When that returns, the earnings growth will come back into the company.”

In other words, Hawkins is betting that eventually the house wins.

3. GenusPlus Group (ASX: GNP) - Jennings

Jennings is looking for the picks and shovels behind some of Australia's biggest structural investment themes, and GenusPlus Group fits the bill.

The founder-led electrical contractor, which recently entered the ASX 300, builds transmission infrastructure around Australia, giving it exposure to the enormous investment required to expand the electricity grid. It is also involved in battery energy storage systems, while its acquisition of MPC Connect has expanded its exposure to oil and gas and renewables.

And Jennings argues investors aren't being asked to pay an enormous premium for that growth.

“It's around 18 times PE, so around a market multiple. It's growing organically, between 10 and 20%. But with acquisitions, it's growing revenue over 60% and earnings over 80% post the recent acquisition," he says.

The recent ASX 300 inclusion could also be just another step in the company's growth story.

“This company could be going into the ASX 200 in time if it continues to successfully integrate.”