These ASX shares could rise 30% to 60%

Analysts believes that huge returns could be on offer with these shares.

| More on:
A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you are searching for some big returns to boost your portfolio, then look no further.

That's because listed below are three ASX shares that have been named as buys and tipped to rise 30% to 60%.

Here's what analysts are saying about them:

Arcadium Lithium (ASX: LTM)

Analysts at Bell Potter think that this miner would be a great way to gain exposure to the lithium industry before it rebounds.

The broker currently has a buy rating and $9.50 price target on its shares. This implies potential upside of 32% for investors from current levels. It commented:

LTM provides the largest, most diversified exposure to lithium in terms of mode of upstream production, asset locations, downstream processing and customer markets. It is a key large-cap leverage to lithium prices and sentiment, which we expect to improve over the medium term. In supportive markets, LTM's growth pipeline could see the company more than double production over the next three years.

Flight Centre Travel Group Ltd (ASX: FLT)

Morgans is feeling very bullish about this travel agent giant. So much so, the broker has it on its best ideas list again this month.

Its analysts have an add rating and $27.27 price target on the company's shares. This implies potential upside of almost 34% for investors over the next 12 months. It commented:

FLT has the greatest risk, reward profile of our travel stocks under coverage. The risk is centred around execution given its changed business model, while the reward is material if FLT delivers on its 2% margin target. If achieved, this would result in material upside to consensus estimates and valuations. FLT is targeting to achieve this margin in FY25. With greater confidence in the travel recovery and the benefits of Flight Centre's transformed business model already emerging, we think the company is well placed over coming years.

Tyro Payments Ltd (ASX: TYR)

Analysts at Morgans are also feeling very positive about this payments company and sees significant value in its shares at current levels. Particularly given its belief that its performance will rebound this year. The broker has an add rating and $1.50 price target on its shares, which suggests potential upside of over 60% for investors. It said:

TYR sold off heavily in 2023 affected by the broad pull back in technology stocks and overall concerns regarding its earnings trajectory. However, we believe FY24 will show significantly improved business momentum, importantly driven by a much greater focus on lifting overall profitability. TYR still trades at a significant discount to valuation.

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 Tyro Payments. The Motley Fool Australia has recommended Flight Centre Travel Group and Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A man closesly watch a clock, indicating a delay or timing issue on an ASX share price movement
Mergers & Acquisitions

BHP shares charging higher as the clock ticks down on the Anglo American takeover

BHP has less than three days before the clock runs down on its $64 billion Anglo American takeover bid.

Read more »

A bored woman looking at her computer, it's bad news.
Share Market News

These are the 10 most shorted ASX shares

Let's see which shares short sellers are targeting this week.

Read more »

A cool young man walking in a laneway holding a takeaway coffee in one hand and his phone in the other reacts with surprise as he reads the latest news on his mobile phone
Broker Notes

Morgans says these ASX stocks can rise 20% (and pay big dividends!)

The broker believes some very big returns could be on the cards over the next 12 months.

Read more »

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements
Share Market News

5 things to watch on the ASX 200 on Monday

A positive start to the week is expected for Aussie investors.

Read more »

Modern accountant woman in a light business suit in modern green office with documents and laptop.
Opinions

1 overlooked ASX growth stock I'm chasing for multibagger potential

I believe this stock can create strong returns in the years ahead.

Read more »

A man sits in deep thought with a pen held to his lips as he ponders his computer screen with a laptop open next to him on his desk in a home office environment.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

Cheerful Father And Son Competing In Video Games At Home
Share Market News

Here's how the ASX 200 market sectors stacked up last week

ASX consumer discretionary shares rose by more than 3% last week.

Read more »

happy investor, share price rise, increase, up
Broker Notes

These ASX 200 shares could rise 15% to 50%

Analysts think these shares can rise strongly from where they trade today.

Read more »