Bell Potter rates these ASX shares as strong buys for 2026

Want to invest in ASX shares in 2026 but aren't sure where to start? Don't worry because analysts at Bell Potter have named a number of shares that they believe are top buys for 2026.

Here are three that the broker is bullish on for next year:

Bega Cheese Ltd (ASX: BGA)

This diversified food company could be an ASX share to buy for 2026 according to Bell Potter.

It has a buy rating and $7.00 price target on its shares. Based on its current share price of $6.01, this implies potential upside of 16% for investors over the next 12 months.

The broker likes the Vegemite owner due to its very positive growth outlook. It explains:

Following recent restructuring announcements, with regard to the closure of Strathmerton and winding down of the PCA operations, there appears a clear pathway towards a $250-270m EBITDA target. If successful in generating this return and having consideration for the cash costs to achieve this target (c$85- 100m), it would imply a share price of $8.00-9.00ps (at BGA's historical ~12x EBITDA multiple). In effect, BGA now has a clearly articulated strategy to generating >20% p.a. EPS growth to FY28e. Trading on a FY25-28e PEG ratio of ~1x, BGA is one of the more compelling growth exposures in the sector.

CAR Group Limited (ASX: CAR)

Another ASX share that the broker is positive on its auto listings giant CAR Group.

Bell Potter has a buy rating and $42.20 price target on CAR Group's shares. This implies potential upside of 38% for investors from current levels.

It highlights that its shares are trading on lower than normal multiples, which it believes is a buying opportunity for investors. It said:

CAR is trading around two-year lows at a P/E of ~28x, despite a defined product rollout map to drive value from its market-leading networks in its large, addressable markets, which includes C2C payments, pay-per-lead model, regional expansion and scope to develop market-based legacy advertising practices, underpinning a steady growth profile in our forecast EPS through FY26e-FY28e.

Harvey Norman Holdings Ltd (ASX: HVN)

A final ASX share that the broker is bullish on for 2026 is retail giant Harvey Norman.

Bell Potter has a buy rating and $8.30 price target on its shares, which implies potential upside of approximately 18% for investors over the next 12 months.

The broker believes that Harvey Norman's shares are still good value despite rising strongly in 2025. It explains:

Despite the strong re-rate in the name, HVN trades at ~2.0x market capitalisation to freehold property value as Australia's single largest owner in large format retail with a global portfolio surpassing $4.5b and collectively owning ~40% of their stores (franchised in Australia and company operated offshore). This sees our view that of the 1-year forward ~19x P/E multiple as justified considering the multiple catalysts near/mid-term.

The post Bell Potter rates these ASX shares as strong buys for 2026 appeared first on The Motley Fool Australia.

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 positions in and has recommended Harvey Norman. The Motley Fool Australia has recommended CAR Group Ltd. 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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