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Bell Potter reveals the 10 best ASX shares to buy for 2019

Broker Bell Potter has revealed what it thinks are the best 10 ASX shares to buy for 2019.

Here are those 10 ASX share picks:

ALS Ltd (ASX: ALQ)

ALS is a global business providing testing services for a variety of industries. Bell Potter said the company should benefit from continuing growth in the overall resources sector and ongoing growth in the food safety and pharmaceutical testing sectors.

Caltex Australia Limited (ASX: CTX)

Caltex is a large Australian refiner, importer and seller of transport fuels and lubricants. It has around 2,000 owned, franchised or affiliated service station sites.

Bell Potter thinks Caltex could be one to own because its convenience stores at the service stations are a significant untapped opportunity, according to management.

Challenger Ltd (ASX: CGF)

Challenger is the leading provider of annuities and retirement income products in Australia. Bell Potter said that as baby boomers continue to move into retirement, it is inevitable that annuities will become a major and rapidly growing product.

CSL Limited (ASX: CSL)

CSL is Australia’s largest healthcare business, it develops, manufactures and distributes plasma therapies and non-plasma biotherapeutic products.

According to Bell Potter, the global growth in plasma volumes is expected to be around 8% per annum for the foreseeable future and CSL is planning to launch new products from its extensive research and development portfolio.

Goodman Group (ASX: GMG)

Goodman Group is one of the world’s largest industrial property businesses with operations in Australia, New Zealand, Asia, Europe, the UK, Brazil and North America. Bell Potter is confident on Goodman because the outlook for industrial & logistics properties is good with continuing growth in Ecommerce and the growing middle class in developing countries.

Macquarie Group Ltd (ASX: MQG)

Macquarie is Australia’s largest investment bank, it operates across asset management, corporate and asset finance, banking and financial services, commodities and global markets, and capital advisory and raising services.

Bell Potter believes its global operations and diverse earnings will allow Macquarie to adapt to changing economic and financial market conditions.

Netwealth Group Ltd (ASX: NWL)

This fintech business offers investment management solutions to financial intermediaries, who provide financial advice on superannuation and other investments, and self-directed individuals who have chosen not to seek advice.

Bell Potter thinks could be one to watch because it is taking market share from institutional platform providers and a structural shift away from the big vertically-integrated players could boost Netwealth’s growth outlook further.

Oil Search Limited (ASX: OSH)

The oil and gas business has a 29% interest in the PNG LNG Project as well as an interest in Alaskan oil fields that could both give Oil Search a boost over time.

Sonic Healthcare Limited (ASX: SHL)

Sonic is the world’s largest pathology business with major operations in the US, Europe, Australia and New Zealand.

Organic growth in the demand for pathology services is useful for the long-term, whilst acquisitions could boost international earnings.

Woolworths Group Ltd (ASX: WOW)

The country’s largest grocery retailer has a market share of around 38% of the food & liquor industry. The recent $1.725 billion sale of its petrol business could see Woolworths return some of those funds to shareholders through capital initiatives.

Foolish takeaway

If you were to buy an equal amount of each business, you’d have a diverse portfolio that could do quite well over the next 12 months. At the current prices I’m personally interested in Challenger, CSL and Macquarie.

However, as good as CSL is, I still don’t think it’s cheap enough and I believe there are better investment opportunities out there for my portfolio.

Motley Fool contributor Tristan Harrison owns shares of Challenger Limited. The Motley Fool Australia owns shares of and has recommended Challenger Limited. The Motley Fool Australia owns shares of Netwealth. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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