Bell Potter names 3 ‘favoured’ ASX shares to buy in 2023

With a new year on the horizon, what better time to look at making some new additions to your portfolio.

The good news is that analysts at Bell Potter have been busy picking out their “favoured” picks for 2023.

Three that have made the cut are named below. Here’s what the broker is saying about them:

Aristocrat Leisure Limited (ASX: ALL)

Bell Potter’s analysts are bullish on this gaming technology company and believe it well-placed for growth in 2023 and beyond. They commented:

The group has a dominant position in the North American gaming industry and the land-based operations should underpin medium term growth while the digital business offers opportunities in a rapidly growing market.

Goodman Group (ASX: GMG)

It has been a difficult year for the Goodman share price, as you can see on the chart below.

The good news is that Bell Potter appears to believe that 2023 could be much better for the integrated industrial property company and its shareholders. It explained:

The long term outlook for industrial and logistics properties is favourable given the continuing growth in ecommerce (or on-line retail sales) and data storage requirements as well as supply chain optimisation and the growing middle class in developing countries.

Suncorp Group Ltd (ASX: SUN)

Finally, the broker is feeling positive about this insurance and banking giant. This is thanks partly to company offloading its banking operations to Australia and New Zealand Banking Group Ltd (ASX: ANZ).

Its analysts commented:

The cash sale of Suncorp Bank to ANZ is expected to yield net proceeds of $4.1 billion and the group’s intention is to return the majority of these proceeds to shareholders through a combination of a fully franked special dividend and a pro-rata capital return after completion of the transaction, which is targeted for the second half of calendar 2023.

The post Bell Potter names 3 ‘favoured’ ASX shares to buy in 2023 appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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