If you are looking for big potential returns to supercharge your portfolio, then it could be worth considering the ASX 200 share in this article.
That's because Bell Potter believes it could rise 90% over the next 12 months.
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Which ASX 200 share?
The share that Bell Potter is tipping as a speculative buy is Iperionx Ltd (ASX: IPX).
It is a titanium production technologies company aiming to commercialise novel products that have the potential to disrupt the current global titanium supply chain.
Its HAMR (Hydrogen Assisted Metallothermic Reduction) product converts titanium scrap or minerals into high spec titanium powders.
Meanwhile, IperionX's HSPT (Hydrogen Sintering & Phase Transformation) product converts titanium powders to high-end titanium components.
Bell Potter notes that these technologies have materially lower production costs than incumbent forms of titanium production through lower energy consumption, reduced waste, and lower carbon emissions.
Why is the broker bullish?
Bell Potter is feeling optimistic ahead of the release of a definitive feasibility study for the Titan Critical Minerals Project in the coming months. It said:
Commercial engagements with several aerospace, defence, automotive and consumer electronics counterparties are ongoing, with prototyping and qualification ahead of initial production contracts expected this year. In mid-2026, IPX will release a Definitive Feasibility Study for the Titan Critical Minerals Project (Tennessee), with potential government funding negotiations ongoing. Initial commercial development of a previously piloted continuous titanium powder process is underway, with potential to materially lift production and lower unit costs on the current installed batch process.
Bell Potter has a speculative buy rating and $8.25 price target on the ASX 200 share.
Based on its current share price of $4.27, this implies potential upside of 93% for investors over the next 12 months.
However, its speculative rating means this would only be suitable for investors with a high tolerance for risk.
Commenting on its recommendation, the broker said:
IPX has the potential to disrupt the incumbent titanium supply chain through materially lowering production costs and manufacturing waste. The company will incrementally expand capacity and progress commercial relationships with aerospace, automotive, luxury goods and government end users. IPX will benefit from increased defence sector spending and with its focus on domestic US manufacturing. Our valuation is now $8.25/sh (previously $9.25/sh), the reduction mostly driven by increased project risking ahead of firm commercial contracts.
