Bell Potter says these are the best ASX shares to buy in October

Online shopping and pharmaceuticals are getting analysts at Bell Potter excited this month.

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If you're in the market for some new ASX shares this month, then it could be worth listening to what analysts at Bell Potter are saying.

That's because they have just revealed their favoured picks for October. Two on list this month are named below:

Cettire Ltd (ASX: CTT)

The broker is tipping this online luxury retailer's shares as a buy again in October. It likes the company due partly to its "scalable proprietary technology platform that has been developed to acquire large volumes of customers, process and fulfil large order volumes, and maintain large data sets of products from suppliers with a high degree of automation."

Another positive is the company's relatively tiny share of a large market that is undergoing a structural shift to online. It said:

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.

Bell Potter has a buy rating and a $4 price target on Cettire's shares. This suggests a potential upside of almost 40%.

Neuren Pharmaceuticals Ltd (ASX: NEU)

Bell Potter is also feeling very bullish on this ASX pharmaceutical share. It likes the company for its trofinetide product, which was recently given FDA approval for Rett syndrome. And with another promising product in phase two trials and its shares trading at just 5.4x estimated FY 2023 earnings, it feels there's a lot of value on offer here. The broker commented:

Neuren Pharmaceuticals is a commercial stage drug development company targeting disorders of the Central Nervous System. The company engages in the development of new therapies for brain injury, neurodevelopment, and neurodegenerative disorders and chronic conditions, such as Rett syndrome and Fragile X syndrome. The lead asset in the company's pipeline is trofinetide (DAYBUE) which became the first FDA approved treatment for Rett syndrome in March 2023 (~ 4,500 patients in the US). Neuren's second product NNZ-2591 is currently in Phase 2 clinical trials in Phelan-McDermid syndrome, Angelman syndrome, Pitt Hopkins syndrome and Prader-Willi syndrome.

Its analysts have a buy rating and a $17 price target on its shares. This implies a potential upside of ~45% from current levels.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Cettire. 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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