These ASX shares could rise 20% to 50%

Analysts see a lot of value in these buy-rated shares.

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If you want to take your portfolio to the next level with some big gains, then it could be worth getting better acquainted with the ASX shares listed below.

That's because they have been named as buys and tipped to rise 20% to 50% from current levels. Here's what you need to know:

Bega Cheese Ltd (ASX: BGA)

This diversified food company's shares could be undervalued according to analysts at Bell Potter.

The broker believes that the market is not appreciating the impact that forecast farmgate prices could have on its costs. Its analysts feel it could be "a game changer" and reduce Bega Cheese's milk costs by $55 million to $60 million.

Bell Potter currently has a buy rating and $5.00 price target on its shares. This implies potential upside of 23% for investors over the next 12 months.

Corporate Travel Management Ltd (ASX: CTD)

Another ASX share that could offer big returns for investors is Corporate Travel Management. It is a corporate travel management and technology company with a global footprint.

The team at UBS believes that a recent selloff has created a buying opportunity for investors. Particularly given its belief that the company can grow at a strong rate over the coming years despite its shaky performance during the first half.

UBS has a buy rating and $21.80 price target on its shares. Based on the current share price of $17.00, this implies a potential upside of almost 30%.

Liontown Resources Ltd (ASX: LTR)

Finally, the team at Bell Potter also sees huge returns on offer with this ASX lithium share.

The broker believes that the Kathleen Valley Lithium Project is highly strategic in terms of its stage of development, long mine life, and location. As a result, it was pleased to see the near-term funding overhang reduced last week with the announcement of a $550 million senior secured syndicated debt facility.

In response, the broker has reaffirmed its speculative buy rating and lifted its price target to $1.90. Based on the current Liontown share price of $1.25, this implies potential upside of 52% for investors between now and this time next year.

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 positions in and has recommended Corporate Travel Management. The Motley Fool Australia has recommended Corporate Travel Management. 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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