If you're in the market for some new ASX shares in November, 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 the month. Two on its list this month are named below:
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Allkem Ltd (ASX: AKE)
Bell Potter is feeling bullish about this ASX lithium share and has named it as its preferred pick in the industry. Particularly given its planned merger with Livent Corp (NYSE: LTHM), which will make it a top three global lithium producer. It said:
AKE is our preferred lithium exposure noting it is a top 5 global producer and its slated merger with Livent is expected to bring US$125 million per annum in synergies and expedite expansions. All up, the merged company will be a top 3 global producer of lithium and will benefit from soaring demand for lithium spurred by a rapid growth in global electric vehicle (EV) production.
The broker has a buy rating and $18.45 price target on the lithium miner's shares.
Seven Group Holdings Ltd (ASX: SVW)
A new addition to its list this month is diversified investment company Seven Group. The broker believes the company is well-positioned for the future thanks to the market-leading businesses in its portfolio and favourable tailwinds. It said:
SVW's businesses and investments are market leaders in their respective industries, with scale, brand and industry expertise underpinning commercial advantages that are hard to replicate by competitors. We are positive on the near-term outlook for mining production, engineering construction and transitional energy markets; critical minerals mining, renewable project construction and expected domestic and international gas supply shortfalls represent longer-term tailwinds.
Bell Potter has a buy rating and a $33 price target on the company's shares.
