If you're in the market for some new ASX shares in December, then it could be worth listening to what analysts at Bell Potter are saying.
That's because they have just unveiled their favoured picks for the month. Two on the broker's list this month are named below:
Cettire Ltd (ASX: CTT)
Bell Potter is likely to see today's pullback in the Cettire share price as a buying opportunity for investors. The broker likes the online luxury retailer due to its growth potential in a huge global market. 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.
Its analysts have a buy rating and a $4 price target on the company's shares.
ResMed Inc. (ASX: RMD)
The broker has this sleep treatment company's shares on its favoured list again. It continues to believe that ResMed has the potential to grow significantly over the long term thanks to the huge addressable market for obstructive sleep apnoea (OSA). It explains:
The market for OSA and chronic obstructive pulmonary disease (COPD) remains under penetrated, and we expect industry volume growth to continue in the 6-8% range for the foreseeable future. In this regard, the competitive dynamics are very much in favour of RMD due to the Philips recall and improving semiconductor availability. Looking ahead, ResMed continues to expect device sales to be sequentially higher throughout CY2023. Furthermore, ResMed is well-positioned to build on its dominant share even after Philips returns to the global market, with the launch of its latest continuous positive airway pressure (CPAP) device, the Air Sense 11.
Bell Potter has a buy rating and a $29 price target on ResMed's shares.
