Yesterday, three ASX shares soared between 7% and 13% higher on positive news.
For comparison, the S&P/ASX 200 Index (ASX: XJO) rose roughly 0.7%.
Let's see what was behind the massive jump and what experts are anticipating moving forward.
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Vista Group International Ltd (ASX: VGL)
Vista Group engages in the sale, support, and associated development of software for the film industry.
Yesterday, its share price shot almost 13% higher on the back of a key announcement.
Vista Group announced that Cinemex has signed a five-year agreement to move its Mexico cinema operations back onto Vista's software platform.
The rollout will begin during 2026 and follows the successful transition of Cinemex's US cinemas to Vista's systems in 2025. Cinemex is the second-largest cinema operator in Mexico, with more than 2,800 screens across 289 locations.
Speaking on the deal, Vista Group CEO, Stuart Dickinson, said:
We are delighted to welcome Cinemex back to Vista Group and to empower their team with our market leading solutions, including Vista Cloud's Digital Empowerment capability.
Following the 13% share price rise, investors may be wondering if there is any more upside for these ASX shares.
Recent estimates from brokers indicate there is.
Shaw and Partners recently placed a price target of $3.70 on Vista Group shares.
That indicates a further 72% upside.
Austal Ltd (ASX: ASB)
Austal shares soared nearly 8% higher yesterday, rebounding after a tough start to 2026.
It is an Australian-based shipbuilder that specialises in the design, construction, and support of defence and commercial vessels globally.
It seems investors have woken up to the value in the company after it tumbled more than 30% year to date despite strong contract momentum.
This ASX defence stock appears to be well positioned to benefit from rising global defence spending, and appears to have plenty more upside.
It closed yesterday at $4.25 per share, significantly below its yearly high of over $8 per share.
Broker targets have been placed around $6.94 for this ASX defence stock, indicating a further upside of 63%.
Megaport Ltd (ASX: MP1)
Megaport shares gained nearly 9% yesterday. It seems investors and brokers have been looking at the software-defined network (SDN) service provider with renewed optimism.
Catalysts for the rise could be the major contract wins from the company's newly acquired Latitude.sh business.
Following yesterday's gain, Megaport shares closed at $14.98.
Unfortunately, it appears much of the upside is now priced in for these ASX shares.
Ord Minnett recently placed a price target of $14.50 on the company, while Morgans has a price target of $15.50.
