The market has been serving up a fair amount of volatility lately, and in the rush to de-risk portfolios, even some of the highest quality ASX shares have been dragged lower.
But as history often shows, those moments of panic can create some of the most compelling buying opportunities — particularly when great businesses are oversold.
With that in mind, here are three ASX shares that look like they've been sold off too far, too fast — and may just be begging for a rebound according to analysts.
CSL Ltd (ASX: CSL)
CSL has been something of a quiet achiever over the years, compounding patient investors' capital at a steady pace. But lately, the biotech giant has been caught in the crosshairs of market pessimism — down significantly from its all-time highs.
The company is still generating billions in revenue, reinvesting heavily into R&D, and maintaining its global leadership in blood plasma therapies, vaccines, and kidney disease treatments. Yet the market has been pricing CSL as if its growth has permanently stalled — despite the fact that its plasma business is expected to underpin double-digit annual earnings growth in the coming years.
Goldman Sachs thinks investors should be snapping up CSL shares while they can. It recently put a buy rating and $307.30 price target on them.
Pro Medicus Ltd (ASX: PME)
High growth. High margins. Low churn. A dominant tech product in the US healthcare market. On paper, Pro Medicus should be an ASX share investor's dream.
But after hitting a high-flying valuation earlier this year, its shares have pulled back more than 30% — despite no meaningful deterioration in the business itself. Its Visage imaging platform continues to expand into major US hospital networks, and its pipeline remains as strong as ever. In fact, the company recently announced new AI research collaborations and continues to post impressive contract wins.
This kind of valuation reset without a drop in quality rarely lasts. Pro Medicus may have been caught up in the broader tech selloff, but it's hard to argue its fundamentals warrant the magnitude of the decline.
Bell Potter is a fan and recently put a buy rating and $280.00 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
Finally, WiseTech is another ASX share that has taken a hit this year. Though, this is not just from tech sector weakness, but also from governance noise and some delayed product timelines. That said, the dust is beginning to settle — and beneath it is still one of Australia's most impressive tech stories.
The CargoWise platform is entrenched with global logistics players, boasting long-term contracts and 95% recurring revenue. While recent share price pressure has left investors a little bruised, it has also resulted in WiseTech trading at a multiple well below its historic average, even as growth continues at a solid clip.
Goldman Sachs is also a fan of WiseTech Global and has a buy rating and $84.45 price target on its shares.
