The All Ordinaries Index (ASX: XAO) is up 18.4% since the 7 April one-year closing lows, with this ASX All Ords share doing a lot of the heavy lifting.
The stock in question is LGI Ltd (ASX: LGI), which focuses on recovering biogas from landfills and converting it into renewable electricity.
In early afternoon trade on Wednesday, LGI shares are down 0.2%, trading for $4.17 apiece. This sees stock in the ASX All Ords share up 61% since plumbing its own one-year closing lows on 7 April.
The company's shares have been buoyed by strong growth.
FY 2025 revenue was up 10% year on year to $33.9 million in FY25. And earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 14% to $17.4 million.
Commenting on the company's performance and outlook at LGI's annual general meeting (AGM) in November, Chairman Vik Bansal said:
LGI continues to grow signing six new contracts over the period, five of these contracts are for long-term landfill gas rights, which LGI will monetise to create Australian Carbon credit units. The remaining contract is for a Battery Energy Storage System ("BESS") to be built, owned, and operated by LGI on the closed landfill at Belrose in Northern Sydney.
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Should you buy this ASX All Ords share today?
The analysts at Canaccord Genuity recently reiterated their buy rating on LGI shares.
Citing three reasons to buy the ASX All Ords share, Canaccord said, "Well-supported new equity issuance, the pull-forward of a scheduled project and the unveiling of a new leg of growth have been the highlights of recent announcements by LGI."
The broker added, "The impacts of these activities is most easily seen in our FY28 earnings estimates, which we increase materially."
On LGI's equity raise and project advancement, Canaccord said:
In October 2025, LGI raised $51m of new equity via an institutional placement and a further $5m from an oversubscribed SPP, at $3.85 per share. The funds will be used to bring forward development of the Nowra project (11MW), in particular which the company now projects to begin commissioning in FY27 (we previously had assumed FY29 for this asset).
As for the new leg of growth, Canaccord noted:
The main change to LGI's base plan to reach 56MW was confirming the identity of 11MW previously described as "other projects" but now confirmed as Nowra generation capacity (3MW) and associated batteries (8MW), with the funding enabling accelerated development with commissioning targeted in FY27.
Additionally, LGI has reported an additional pipeline of more than 25MW of new projects, which would take the portfolio beyond 80MW of installed capacity.
Connecting the dots, Canaccord increased its price target on the ASX All Ords share to $4.80, up from the prior $4.30 a share.
That represents a potential upside of more than 15% for investors buying the ASX share at current levels.
