Will Coles shares finally turn a corner this November?

Let's look at what two experts are saying about Coles shares this month.

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Coles Group Ltd (ASX: COL) shareholders are probably a pretty subdued bunch right now. October was not a good month for Coles shares. Last month saw this ASX 200 consumer staples stock fall 1.86%, going from $15.56 at the end of September to $15.27 a share by the end of Tuesday's trading.

Even worse, Coles shares are also down by a far more severe near-20% since mid-June. That's not something that any investor would be pleased with by any stretch of the imagination

So it probably goes without saying that Coles investors will be hoping for a far better month this November. But just how likely is that?

Well, it's pretty futile to make one-month share price predictions for any ASX share. Plus, there's not a lot that investors can look forward to this month in terms of big corporate events. No earnings reports, and no dividend payments. That's with one big exception.

Coles is holding its annual general meeting (AGM) this November. It's scheduled for this Friday, 3 November to be precise. So keep your eyes peeled for any new information coming out of this meeting.

But aside from that, what should investors expect from Coles shares next?

What do ASX experts reckon about Coles shares this November?

Let's look at what one expert reckons.

Michael Gable of Fairmont Equities recently spoke with The Bull about his views on the Coles share price. Gable didn't offer any November-specific comments. However, in some comments that might disappoint Coles owners, he doesn't seem too enthusiastic about Coles shares right now.

Here's some of what he said on Coles shares:

Shares in the supermarket giant have fallen from $18.42 on July 3 to trade at $15 on October 26. We expect stiffer competition and Australia's soaring cost of living to pressure earnings. We still believe the stock is expensive as price momentum is skewed to the downside.

However, it's worth noting that not all ASX experts are as bearish on Coles as Gable.

Last week, we covered the views of ASX broker Morgans. This broker reckons the recent falls in the Coles share price make this a compelling opportunity, giving the company an add rating.

Morgans gave Coles shares a 12-month share price target of $16.60, which would see some big gains from the current pricing if realised over the coming year. Here's some more of what Morgans had to say:

With management taking steps to reduce total loss and supply chain investments on track with expectations in August, we think the stock is looking more attractive following the recent pullback in the share price.

So we can't make any good predictions about what this November might hold in store for Coles shares. But let's see which of these ASX experts is right about this ASX 200 blue-chip stock over the coming 12 months.

Motley Fool contributor Sebastian Bowen 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 positions in and has recommended Coles Group. 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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