Amidst broader market sell-offs over the last month, several individual ASX shares have bucked the trend and charged to 52-week highs.
Three such shares that hit new yearly highs yesterday were:
- New Hope Corp Ltd (ASX: NHC) hit fresh highs of $5.84
- Duratec Ltd (ASX: DUR) rose to $2.48
- Telstra Group Ltd (ASX: TLS) has now reached $5.34.
Investors on the outside looking in may be considering if there is any further upside.
Here is what experts are saying about these ASX shares hitting fresh 52-week highs.
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Telstra Group
Telstra shares closed yesterday after a 0.75% gain.
They have now risen almost 30% in the last year, including more than 9% year to date.
For context, the S&P/ASX 200 Index (ASX: XJO) is down 4% year to date.
There are two key reasons investors may be piling into Telstra shares.
Firstly, Telstra shares are considered to be a defensive option as Australia's largest and longest-running provider of telecommunications and information products and services.
In simple terms, consumers still need access to its services regardless of global conflict and economic instability.
Another reason investors may be turning to Telstra shares is for its reliable income through dividends.
As Tristan Harrison reported earlier this week, Telstra has been steadily increasing its dividend payout in the last few years, including the FY26 half-year result.
In terms of further upside, these two factors could easily continue to push the share price higher if near-term risk off sentiment continues.
13 analysts forecasts via TradingView indicate the current price is hovering close to fair value.
Duratec
Duratec is an investment holding company. The company's operating segment includes Defence; Mining and Industrial; Building and Facades, and Energy.
This combination has helped it continue to benefit from defence spending, which contributes to most of its revenue.
Thanks to this, its share price has risen an impressive 34% year to date, hitting fresh 52-week highs yesterday.
After such a strong run, it seems analysts see the All Ords stock as fully valued, with average forecasts hovering around $2.41.
New Hope
New Hope is an Australian thermal coal miner.
Its share price has lifted 44% year to date.
It has benefited from a rally in global coal prices, which recently hit a 16 month high.
While the previous two shares listed appear close to fair value, recent broker targets indicate New Hope shares may now be overvalued.
Morgans has a hold rating on these ASX shares, along with a price target of $5.00.
That target is 14% higher than yesterday's closing price.
