The team at Bell Potter has been busy picking out its favoured ASX share picks for 2023.
I covered the first three here earlier this week. Now let's look what else the broker rates highly for the year ahead:
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CSL Limited (ASX: CSL)
Bell Potter is feeling positive about this biotherapeutics company thanks to growing plasma volumes. In addition, it notes that its Vifor Pharma acquisition has added global leadership in renal disease and iron deficiency. The broker commented:
The recently completed acquisition of Vifor Pharma will add global leadership in pharmaceutical products for renal disease and iron deficiency. The global growth in plasma volumes is expected to be around a solid 8% per annum for the foreseeable future and, in addition, the group is planning to launch new products from its very extensive Research and Development portfolio.
South32 Ltd (ASX: S32)
In the resources sector, Bell Potter has picked out this mining giant as a favoured stock for 2023. Its analysts like the diversified miner due to its increasing exposure to the decarbonisation megatrend and its base metal operations in North America. It said:
The next phase of growth is expected to come from the world class base metal development options in North America. In addition, the management team has plans to markedly increase the group's involvement in minerals, which are critical to a low carbon future, such as copper, nickel, zinc, aluminium, and manganese.
Woolworths Group Ltd (ASX: WOW)
Finally, the broker has named this retail giant as a top pick for 2023. This is due to its belief that Woolworths is better positioned than many other retailers in the current economic environment. It explained:
In the current environment of rising cost of living pressures, supermarkets are much better placed than discretionary retailers and, in the longer term, the group should benefit from a persistence in working from home habits and the accompanying elevated at home food consumption.
