The Australian share market has delivered an average return of 10% per annum historically.
While this is a great return, there are ASX shares out there with the potential to outperform according to analysts.
For example, here are three shares that have been tipped to rise 20% to 70% over the next 12 months:
Bellevue Gold Ltd (ASX: BGL)
Big returns could be on the cards for buyers of this ASX share according to analysts at Bell Potter.
They think the gold miner's shares are dirt cheap at current levels and have put a buy rating and $2.00 price target on them. This implies potential upside of 70% for investors over the next 12 months. They said:
The key near term catalyst is demonstrating the mine can be ramped-up to full production during 2H production. The most important milestones are exiting FY25 producing at a 200kozpa production rate, and demonstrating that development is sufficiently advanced in front of production fronts to sustain the 200kozpa rate.
We expect 3Q/4Q reports to provide hints on progress towards these milestones. We see upside to the share price from: (1) ongoing production ramp-up and expansion, (2) near-mine exploration programmes over the next two years supporting market valuation increases, (3) strong spot gold prices.
WiseTech Global Ltd (ASX: WTC)
Morgans thinks that investors should be taking advantage of recent share price weakness to load up on this ASX share.
The broker has just put an add rating and $124.10 price target on the logistics solutions technology company's shares. This suggests that upside of almost 40% is possible for investors from current levels.
Commenting on its buy recommendation, the broker said:
WTC delivered its first result in USD, which came in modestly ahead of our expectations. 1H25 Underlying NPATA grew +34% to $112.1m, ~1.4% our MorgF, with CargoWise Revenues increasing 21% yoy to $331.7m. Updating our numbers to reflect WTC's revised FY25 guidance (to come in at the lower end of its revenue growth range of 16-26%) and further delays to the recognition of revenue growth from the group's new products into FY26+ sees our EBITDA forecasts downgraded by -3%/-8%/-6% respectively in FY25-FY27F.
Woolworths Group Ltd (ASX: WOW)
Goldman Sachs believes that big returns could be on offer with this supermarket giant's shares.
It recently put a buy rating and $36.10 price target on its shares. Based on its current share price of $28.89, this implies potential upside of 25% for investors over the next 12 months.
Goldman thinks that the company's shares are too cheap relative to its earnings growth potential. It said:
We reiterate Buy as we see early signs of a refocus on productivity and increased precision execution driving promotional effectiveness. Our A$36.10/sh TP implies FY26e 22x P/E vs LT avg of 24x vs FY25-27e EPS growth of 20%.
