Last week, we looked at a couple of ASX shares that the team at Bell Potter is bullish on and has named as top picks for November. You can read about those shares here.
Two 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)
The first ASX share that Bell Potter is bullish on is investment manager Centuria Capital.
The broker believes it is well-positioned to be a winner from favourable tailwinds in the real estate sector. And with this yet to be fully priced in, Bell Potter thinks now could be an opportune time to invest. It said:
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.
Elders Ltd (ASX: ELD)
Another ASX share to make the list is agribusiness company Elders.
Bell Potter sees a lot of value in its shares at current levels. Especially given the acquisition of Delta Agribusiness, its cheap valuation, and its multiple drivers of growth. Commenting on the stock, Bell Potter said:
Elders is a leading Australian agribusiness and rural services company. It has an expansive network across Australia, providing a diverse range of services to rural and regional Australia, including livestock and wool agency and marketing, real estate services, agricultural supplies, financial services, and insurance. Elders supports primary producers across various sectors like livestock, cropping, and wool, and also operates a feedlotting business. 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 11x 12MF P/E, along with these potential upside catalysts and a strong dividend yield.
