S&P/ASX All Ords Index (ASX: XAO) shares are 0.26% lower at 8,668.3 points on Friday.
Today's fall builds on yesterday's 1.77% drop after missile strikes on energy assets in the Middle East caused a spike in oil prices.
ASX All Ords shares have fallen 8.13% since the war began, and the market is now 4% in the red for the year to date (YTD).
Meantime, brokers have named 3 ASX shares with buy recommendations amid all this volatility.
Let's take a look.
Image source: Getty Images
Helloworld Travel Ltd (ASX: HLO)
Helloworld Travel shares are steady at $1.44 on Friday, down 23.8% YTD and down 6.5% over 12 months.
Shaw and Partners reiterated its buy rating on this ASX travel share after the Australian Bureau of Statistics released new data.
The broker commented:
The Australian Bureau of Statistics (ABS) Overseas Arrivals and Departures data for January 2026 bodes well for Helloworld Travel Limited (ASX: HLO) with Departures up 8.4% Financial YTD and the travel destination mix reasonably steady.
Shaw and Partners kept its 12-month share price target at $2.80.
This implies a potential 94% upside from here.
Bega Cheese Ltd (ASX: BGA)
The Bega Cheese share price is down 0.27% to $5.60 at the time of writing.
The ASX consumer staples share is down 7.67% YTD and up 8.6% over the past year.
This month, PAC Partners retained its buy rating and increased its price target by 7% to $7.50 per share.
This implies a potential 34% upside from here.
The broker said:
Bega Cheese Limited's (ASX: BGA) vision of a great Australian food company arrived this year with: a scalable platform #1 and #2 "better for you" brands; #1 Australian cold chain; off-shore leverage; and a 50% lift in dividend in 1H'26.
Starpharma Holdings Ltd (ASX: SPL)
The Starpharma share price is 47 cents, up 1.1% on Friday.
This ASX small-cap share has risen 25.7% YTD and soared 365% over 12 months.
PAC Partners has a buy rating on this ASX healthcare share.
The broker forecasts growth in partnerships and over-the-counter revenue over the next four years.
PAC Partners says it has a "high risk" 12-month price target range of 80 cents to $1 on Starpharma shares.
This suggests a possible minimum capital gain of 70% over the next 12 months.
PAC Partners commented:
Starpharma Holdings Limited (ASX: SPL) will start human clinical trials of its novel radiotherapy drug for a solid cancer target by the end of 2026.
This in-house project opens up SPL dendrimer applications beyond the Genentech, medicxi and RAD.ASX partnered projects.
