For those who own ASX value shares, I'm sure many would agree with the investment legend Warren Buffett's adage: "Whether it's socks or stocks, I like buying quality merchandise when it's marked down".

And what is investing anyway, if not receiving more in value for what you pay?

For investors on the hunt for value shares to buy this month, brokers are bullish on two particular names.

Both Telstra Group Ltd (ASX: TLS) and Premier Investments Ltd (ASX: PMV) have gotten the thumbs-up from top brokers in recent weeks, both trading at potential discounts. Let's see what the experts say.

ASX value shares for November

Telstra is first on the list of ASX value shares for November, especially for those seeking current income.

The stock is rated a buy from consensus, according to CommSec data. It says the median analyst expects Telstra to earn 20 cents per share in FY25.

This sees it trade on a forward price-to-earnings (P/E) ratio of 19 times, below most communication services stocks.

Goldman Sachs analysts see plenty of value in Telstra's shares at current levels, pointing to its stable growth outlook and strong yield.

On face value, it says Telstra's valuation looks "relatively full". But, after making adjustments for NBN payments and dividend forecasts in its modelling, it says the valuation "is more attractive".

The broker is forecasting fully franked dividends of 19 cents per share in FY25, rising to 20 cents the year after.

With Telstra's current share price of $3.89, this translates to forward yields of 4.88% and 5.14%, respectively.

The broker also likes Telstra's potential to unlock further value by monetising its InfraCo Fixed assets, valued between $22 billion and $33 billion.

It rates the ASX value share a buy with a price target of $4.35 apiece.

Premier Investments: Tailwinds for growth

Premier Investments is the company behind well-known brands like Peter Alexander and Smiggle. After being heavily sold in September, brokers see the stock as a potential ASX value share.

Analysts at Bell Potter believe there's still more room for the company to grow, especially after Premier's recent decision to divest its Apparel Brands division to Myer Holdings Ltd (ASX: MYR).

The deal, valued at around $601 million, could boost earnings, and Premier shareholders will receive shares in Myer.

Bell Potter rates the stock a buy with a price target of $38 apiece.

Meanwhile, Morgan Stanley also rated the ASX value share a buy last month. It values the stock at $39.50 following the Apparel Brands sale.

Despite the price change since the deal was announced, the broker still thinks there's value to be drawn.

Foolish takeout

Brokers rate these two ASX value shares as buys and see plenty of upside in both, including in capital growth and income.

Telstra trades on a forward P/E of 19 times, whereas PMV sells on a trailing P/E of about 19 times as well.