Yesterday we looked at three ASX shares that the team at Bell Potter is bullish on and has named as top picks on its Australian equities panel in August. You can read about those shares here.
Three more of the best ASX shares to buy this month according to the broker are listed below. Here's why it is bullish on these names:
Clinuvel Pharmaceuticals Ltd (ASX: CUV)
The first ASX share that Bell Potter is tipping as a buy is Clinuvel. It is a pharmaceutical company distributing its lead drug Scenesse (afamelanotide) across Europe and the USA for patients with the rare disease Erythropoietic protoporphyria (EPP).
Bell Potter believes that its shares are good value given its strong growth outlook. This is being underpinned by its existing EPP product and its potential expansion into other areas. It explains:
Trading at approximately 7.4x EV/EBITDA valuations are not stretched, our analysts view the current valuation as well-supported by its existing, highly profitable EPP franchise alone without consideration for the substantial market opportunity presented by its vitiligo treatment program.
Develop Global Ltd (ASX: DVP)
Another ASX share that gets the seal of approval from the broker this month is Develop Global.
It operates under a hybrid model as an underground mining contractor and operator of two mining assets: The Woodlawn Zinc-Copper Mine; and The Sulphur Springs Zinc-Copper Project.
Bell Potter thinks that now is the time to buy given the potential transformation of its earnings profile. It said:
Our analysts are forecasting a transformation in DVP's EPS profile in the forward years, with FY26 PE currently undemanding at ~8.2x. Re-rate catalysts in the near-term include production updates showing Woodlawn is on a path to achieving processing plant nameplate capacity and additional Mining Services contract wins.
Elders Ltd (ASX: ELD)
Finally, Bell Potter has named Elders on its Australian equities panel again in August.
The broker believes the market is undervaluing the agribusiness company. Particularly given the potential benefits of the proposed acquisition of Delta Agribusiness for $475 million. It said:
We see value in ELD, particularly with the market appearing to undervalue the pending Delta acquisition. The base business is performing well with multiple growth drivers including recovery from drought conditions, system modernisations, and backward integration benefits. We are attracted to ELD's valuation, which is relatively cheap at 11.8x 12MF P/E, along with these potential upside catalysts and a strong dividend yield
