Bell Potter names the best ASX shares to buy

MotleyFool
06-16

Do you have money to put into the share market this week? If you do, then it could be worth considering the ASX shares in this article.

That's because they have been named on Bell Potter's Australian Equities Panel. These are its panel of favoured Australian equities that it believes offer attractive risk-adjusted returns over the long term.

Among the ASX shares on the panel this month are the two below. Here's what the broker is saying about them:

Boss Energy Ltd (ASX: BOE)

Bell Potter thinks that Boss Energy would be a great pick for investors that are looking for exposure to the uranium market. Which could be a good idea given its belief that uranium is heading into a bull market.

It highlights the ASX share's geographically diversified multi-asset portfolio and expansion optionality at Honeymoon as the reasons to pick it over peers. The broker explains:

Boss Energy's Honeymoon project recommenced production in April-24, with first sales expected in July-24. The business over the last six months has changed somewhat, with the acquisition of a 30% interest in the Alta Mesa project with JV partner enCore energy in South Texas.

We continue to see significant value in BOE, with optionality around expansion at Honeymoon via low-risk and cost regional resources at Jasons and Goulds Dam. With the inclusion of Alta Mesa, BOE boasts a geographically diversified multi-asset portfolio with several growth levers yet to be pulled, heading into a uranium bull market.

Universal Store Holdings Ltd (ASX: UNI)

Another ASX share that makes the broker's Australian equities panel is Universal Store. It is a youth fashion retailer responsible for the Universal Store, Perfect Stranger, and Thrills brands.

Bell Potter thinks that its shares are undervalued at 14x forward earnings. Especially given its belief that Universal Store is positioned to deliver earnings growth of 14% per annum through to FY 2027. This is expected to be underpinned partly by its store network expansion.

Commenting on its bullish view of the stock, the broker said:

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 14% p.a. over (FY25-27). Valuation looks attractive, trading on a fwd P/E of ~14x. UNI is a quality small cap (ROE ~26%) that is executing on its rollout strategy.

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