The S&P/ASX 300 Index (ASX: XKO) is an appealing place to look for opportunities because companies included in the index have reached a certain size (and stability) but may still have plenty of growth potential to come.
I'm going to look at the return potential of EVT Ltd (ASX: EVT), which is one of the businesses that is liked by the investment team at the listed investment company (LIC) WAM Research Ltd (ASX: WAX).
WAM Research looks to invest in the most compelling undervalued growth opportunities in the Australian market and EVT was one of the top 20 holdings of the WAM Research portfolio at the end of March 2026.
The fund manager describes EVT as an Australian entertainment and hospitality company with operations spanning hotels, cinemas and travel experiences. It has around 100 hotels with more than 15,000 rooms, with cinemas across Australia, New Zealand and Germany.
Let's take a look at what could allow the business to provide capital growth of more than 20% in the next year.
Image source: Getty Images
What's to like about the ASX 300 share?
WAM Research pointed out that the company delivered a positive investment return during March, building on positive momentum from its FY26 half-year result released in February.
The HY26 result showed revenue growth of 5.4%, while net profit grew by 21.6%. It said that this result was supported by record performance in the hotels division and solid contributions from Thredbo and EVT's international operations.
In March, EVT completed a $750 million refinancing, extending debt maturities and improving covenant headroom.
WAM concluded its thoughts with the following:
This was broadly viewed by the market as enhancing financial flexibility to support future hotel expansion.
In terms of a trading update, the company is expecting the second half to show growth, subject to film performance and weather conditions.
The ASX 300 share's hotels division is expected to deliver another operating profit (EBITDA) record year. New growth is expected from previous growth initiatives.
In the entertainment division, the second is expected to show growth, while Thredbo visitation was impacted by regional bushfires, while the winter 2026 (the month of June) is subject to weather conditions.
What could the return be?
No-one can know what the returns are going to do, but analysts are optimistic about what could be next with the business.
According to CMC Invest, there are currently three buy ratings on the business, with an average price target of $16.85 between them, which implies a possible rise of 24% within the next year.
The lowest price target of $16.40, which would be a rise of over 20%. The highest price target is $17.31, which suggests a possible rise of 27%.
