With a new year on the horizon, now could be an opportune time to make some new additions.
But if you're not sure which ASX shares to buy, it could be worth listening to what analysts at Bell Potter are saying about the two founder-led companies listed below.
They have been named among its top picks for the year ahead. Let's see what the broker is saying:
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Corporate Travel Management Ltd (ASX: CTD)
Bell Potter is a fan of this founder-led global travel management solutions company.
It believes the ASX share is well-placed to benefit from the corporate travel market recovery thanks to its market-leading position. It explains:
We are positive on the Company's growth outlook and market-leading position as the corporate travel market continues to recover and view any existing uncertainty regarding the recovery trajectory, macro-outlook, and structural industry headwinds as largely priced in by the market. We therefore see upside risk with CTD: (1) having already exceeded pre-pandemic TTV driven by new client wins; (2) remaining well capitalised; and (3) forecast to deliver strong double-digit earnings growth in FY24-25e. On an FY24e P/E of ~18.0x, which is a ~5% discount to peers, despite also paying a solid dividend, we also think CTD looks value.
Bell Potter has a buy rating and a $21 price target on the ASX share.
Mineral Resources Ltd (ASX: MIN)
Another founder-led ASX share that Bell Potter is tipping as a buy is Mineral Resources.
It is a mining and mining services company with exposure to energy, iron ore, and lithium. Bell Potter expects its production growth to underpin earnings growth in the coming years. It said:
MIN's business is undergoing considerable growth in the Iron Ore, Lithium and Energy units. Resulting production growth is forecast to increase earnings over the next two years and provide improved leverage to lithium and iron ore prices, from a lower unit cost base. We forecast that MIN's uncorrelated earnings streams, and internal design and construction capabilities, will provide a sector leading growth platform.
Bell Potter has a buy rating and a $90 price target on its shares.
