If you're looking for ASX shares to buy, then it could be worth checking out three on Bell Potter's latest Australian Equities Panel.
Each offers a unique growth profile—ranging from cutting-edge defence tech to high-demand battery metals to world-class healthcare innovation. And all are backed by strong fundamentals and forward-looking catalysts.
Let's take a closer look at why these three shares could be among the best buys on the ASX right now.
Few companies are as well-positioned to benefit from rising geopolitical tensions and defence spending as DroneShield.
Bell Potter has high conviction in DroneShield's outlook, particularly following the largest contract wins in its history and a global uplift in military budgets. With the NATO alliance expanding its defence spending and governments around the world prioritising counter-drone capabilities, DroneShield is in a sweet spot. It said:
DRO provides an end-to-end counter-drone solution that integrates proprietary artificial intelligence software with a suite of hardware products utilised to detect, identify and defeat aerial, ground and maritime threats. The company's products are largely in-house technology and include handheld, vehicular and fixed installations. DRO's customers primarily include military and intelligence, as well as law enforcement, critical infrastructure and commercial parties globally.
At a time when decarbonisation, EVs, and grid-scale storage are driving a surge in demand for battery materials, Nickel Industries gives investors a front-row seat at a compelling valuation according to Bell Potter.
With operations in Indonesia, Nickel Industries is one of the lowest-cost producers globally. It has demonstrated it can generate positive free cash flow even in a soft nickel market—an essential trait during commodity cycles. Commenting on the company, it said:
NIC is the only material ASX way to gain exposure to the nickel price, has a growth story, and is diversifying earnings to span Type 1 and Type 2 nickel. NIC continues to generate positive cash flows in a tough nickel market and is set to deliver major growth milestones in CY25 across its highest margin nickel operations. All up, given the forecast high production growth and potential for a very large free cash flow uplift in the next 2 years or so, NIC presents a compelling story and appears cheap at current valuation.
CSL is a global leader in plasma therapies and biopharmaceuticals.
Bell Potter believes it is in the midst of a margin recovery cycle that should drive above-market earnings growth over the coming years. Importantly, this comes at a time when CSL trades on a forward P/E of 21.2x, which is well below its 10-year historical average of 31x.
Commenting on the ASX share, the broker said:
CSL presents an attractive buying opportunity as we expect the margin recovery phase for CSL to drive above-market earnings growth over the next few years. CSL trades at a 12-month forward PE of ~21x, representing a discount to its 10- year average of ~31x. Furthermore, the company will continue to deleverage the balance sheet over the next few years. Given the company's proven quality and growth prospects, we believe significant upside remains.
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