I'm always on the hunt for ASX share opportunities, and I'm going to highlight two stocks that brokers think are buys.
I can see why they're attractive opportunities – their valuations are a lot lower and they have compelling growth plans that could power their earnings higher.
Experts rate the below businesses as a buy, and I'm excited by their potential.
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Nick Scali Ltd (ASX: NCK)
Nick Scali is a furniture business with stores in Australia, New Zealand and the UK. It also operates Plush stores in Australia.
According to CMC Invest, of eight recent analyst ratings on the business, five of those were buys. The average price target of those ratings is $21.38, suggesting it could rise by around 45%, from the time of writing, over the next 12 months.
I do think the Nick Scali share price is significantly undervalued, considering it has fallen more than 40% since its 2026 high in January. If there's a 'right' time to buy a retailer, it's when market is worried about consumer spending for the foreseeable future.
Nick Scali is a great business, with a solid return on equity (ROE), an impressive gross profit margin and significant growth plans across its existing markets. It plans to add dozens of stores in the coming years in Australia and the UK, which should significantly help its gross profit margin and other margins.
Just like earlier this decade, I don't think this high inflation period is going to last forever, so I'd use this period of temporary share price weakness with the ASX share to buy. It may take longer than a year to deliver a 40% return, but I'm optimistic it will regain that lost ground when interest rates are heading down rather than upwards.
Collins Foods Ltd (ASX: CKF)
Collins Foods is a large franchisee of KFC outlets in Australia, Germany and the Netherlands.
According to CMC Invest, of 11 recent analyst ratings on the business, eight of those were buys. The average price target of those ratings is $12. That suggests a possible rise of 43%, at the time of writing, over the next year.
Collins Foods is another ASX share that's suffered a decline – it's down around 30% from the height in November 2025.
I think the business has significant room to expand its European and Australian networks, particularly in Europe, through both a mixture of acquisitions and new locations.
The business is continuing to grow at a pleasing pace. In mid-March, the company gave a trading update. In the second half of FY26, Australian total sales increased by 6.2%, German sales increased 9.1% and Dutch sales grew 4.1%.
It said it's expecting its FY26 underlying net profit after tax (NPAT) to grow in the "mid-to-high teens".
According to the projections on Commsec, the Collins Foods share price is valued at 16x FY26's estimated earnings and it could grow earnings by another 31% in FY27.
