If you're in the market for some new ASX shares in June, 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 ahead. Three on its list this month are named below. Here's what the broker is saying about them:
Coles Group Ltd (ASX: COL)
This supermarket giant could be an ASX share to buy this month according to the broker. It believes the company's investment in its supply chain and online business will help strengthen its position in the market. It said:
Costs are expected to remain elevated but should moderate through FY24 and FY25 as general inflation tapers off. In the medium term, 1) higher immigration should support grocery spending, and 2) Coles is entering a period of elevated capex intensity as it reinvests to modernise its supply chain and to catch up to competitors on online and digital offerings, which should help Coles maintain its market position.
Bell Potter has a buy rating and $19.00 price target on Coles' shares.
Mineral Resources Ltd (ASX: MIN)
If you don't mind investing in the mining sector, then it could be worth looking at this mining and mining services company. Bell Potter likes Mineral Resources due to its diverse operations and strong growth outlook. It explains:
Our Buy view is underpinned by MIN's earnings diversification, strong insider ownership, clearly articulated strategies, expertise in contracting and internal growth options at Onslow as well as potential lithium expansions including into downstream. All up, MIN offers diversified exposure to steady income streams from the contracting business and market-driven commodity exposure coupled with earnings derived from both lithium and iron ore.
The broker has a buy rating and $85.00 price target on the ASX share.
Regal Partners Ltd (ASX: RPL)
A final ASX share that could be a buy is investment company Regal Partners. The broker highlights its strong investment performance and believes that the market is undervaluing this. It commented:
We continue to favour RPL, given its strong organic & inorganic growth potential, and entrepreneurial culture. In the last six months, and following the recent acquisition of PM Capital and Taurus (50%), the firm has shown an acceleration of inflows, strong investment performance (which will give rise to performance fees) and success in marketing new funds. We feel this strong performance is not reflected in the share price and see considerable upside
Bell Potter has a buy rating and $4.02 price target on its shares. It also expects a 6%+ dividend yield.
