If you're on the lookout for some new additions to your portfolio, then the ASX shares listed below could be worth considering.
They have both been named as favoured shares by Bell Potter for the month of September. These are the shares that the broker believes "offer attractive risk-adjusted returns over the long term."
The broker also notes that when choosing its picks it considers the current macro-economic backdrop and investment environment, focusing on quality companies with proven track records, capable management and competitive advantages.
The first two ASX shares on the list are covered here. Let's take a look at two more:
ANZ Group Holdings Ltd (ASX: ANZ)
Bell Potter has named ANZ Bank on its list again this month. The broker has a buy rating and a $27 price target on its shares.
Although it acknowledges that trading conditions are tough, it feels ANZ's exposure to institutional banking gives it an edge. The broker explains:
While we note there are challenges from continued mortgage competition and tight wholesale funding market, ANZ is exhibiting strong trends in lending growth and asset quality. Furthermore, with the RBA's tightening cycle, ANZ's margins are benefiting from deposits repricing and gains in replicating portfolio. We forecast fully franked dividend yields of ~7% through to at least FY25. ANZ remains our top pick in the sector, and we expect the lending momentum, particularly in institutional, to continue to differentiate versus its peers.
Cettire Ltd (ASX: CTT)
Another ASX share to make the list is online luxury retailer Cettire. Bell Potter has a buy rating and a $4 price target on its shares.
The broker believes Cettire is well-positioned for growth due to structural drivers and its tiny share of a massive market. It explains:
Cettire has a rapidly growing global online luxury personal goods retailing platform in a large market with a structural shift to online well underway. We believe CTT will continue to outperform its peer group consisting of global luxury retailers and local e-commerce players given its <1% market share in a growing market, which could remain more resilient than other discretionary categories in a likely recessionary environment.
