Yesterday we looked at a couple of ASX shares that the team at Bell Potter is bullish on and has named as top picks on its Australian equities panel in October. 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:
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Centuria Capital Group (ASX: CNI)
A new addition to the panel this month is Centuria Capital.
Bell Potter believes the investment manager's shares are being undervalued by the market based on its positive outlook. Commenting on the ASX share, it said:
Centuria Capital Group (CNI) is an investment manager with c.$21b of predominantly real-estate-focused assets under management. CNI manages funds spanning listed, unlisted wholesale and unlisted retail syndicates across all major asset classes. As per their listed funds, CNI's assets under management is primarily in the Office and Industrial markets, however it also operates in Daily Needs & Large Format Retail, as well as alternative subsectors such as Healthcare, Real Estate Credit, and Agriculture. CNI is well positioned to benefit from tailwinds in the Real Estate sector, and we see cyclical upside yet to be priced in.
Praemium Ltd (ASX: PPS)
Another new addition to the panel in October is investment platform provider Praemium.
The broker highlights that despite its strong operational performance, its shares trade at a significant discount to peers. However, it feels this could change once it delivers further market share and funds under administration (FUA) growth. Bell Potter said:
While Praemium has demonstrated commercial momentum, strong growth capacity, and a leading technology offering, its valuation continues to lag key peers. This stock looks very attractive at a 12MF PE of ~18x, and we expect the market to catch on as the company executes on further market share gains and FUA growth.
Universal Store Holdings Ltd (ASX: UNI)
Finally, youth fashion retailer Universal Store could be an ASX share to buy in October according to Bell Potter.
The broker thinks that its shares are good value. Especially given its potential for double-digit earnings growth in the coming years. 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 10% p.a.. Valuation looks attractive, trading on a forward P/E of ~16x. UNI is a quality small cap (ROE ~26%) that is executing on its rollout strategy.
