The Australian share market is a sea of red again on Tuesday.
Investors have been hitting the sell button in a panic following a selloff on Wall Street caused by US recession concerns.
While the market volatility can be hard to stomach, history shows that it is times like these that are an opportunity to buy ASX shares at wonderful prices.
But which shares would be good options after the selloff? Let's look at three that Bell Potter has named as best buys this month. They are as follows:
Goodman Group (ASX: GMG)
The first ASX share to consider buying after the market selloff is integrated industrial property company Goodman.
Bell Potter believes that recent share price weakness has created an attractive buying opportunity for investors. Especially given its belief that Goodman will grow its earnings in the double digits for at least the next few years. It said:
GMG presents an attractive opportunity, particularly following its recent pullback after the capital raise. The company is well-leveraged to data centres, a highgrowth sector that is driving a strong future development pipeline at higher margins. As a founder-led business, GMG benefits from experienced leadership with a proven track record of robust EPS growth. Trading at ~25x forward earnings with double-digit earnings growth projected over the next few years, we believe the current valuation offers good long-term value for investors.
Neuren Pharmaceuticals Ltd (ASX: NEU)
Another ASX share that could be a buy after the market selloff is Neuren Pharmaceuticals.
It is a growing biotechnology company with a portfolio of promising treatments that have significant potential.
Bell Potter likes the company partly due to the potential of its NNZ-2591 product. It said:
Neuren Pharmaceuticals is a biotech company that is well-funded via its first asset, DAYBUE, which is an FDA approved trofinetide for the treatment of Rett syndrome. NEU's value is from its second asset, NNZ-2591, which is under development for rare diseases. NNZ-2591, if successful, could lead to a significant increase in revenue and earnings when brought to market. NEU looks attractive on a risk/adjusted basis after the recent sell-off.
Universal Store Holdings Ltd (ASX: UNI)
A final ASX share to consider buying after the market selloff is Universal Store. It is a youth fashion retailer behind the eponymous Universal Store brand, as well as Perfect Stranger and Thrills.
Bell Potter thinks that its shares are good value at current levels. It explains:
Universal Store Holdings is a leading youth focused apparel, footwear and accessories retailer in Australia. UNI will continue to increase store numbers over the next few years, supporting earnings growth of 12% p.a. over (FY25-27). Valuation looks attractive, trading on a fwd P/E of ~14x. UNI is a quality small cap (ROE ~25%) that is executing on its rollout strategy.
