S&P/ASX 200 Index (ASX: XJO) shares are in the red for 2026, down 1.2% so far.
Experts say some ASX shares are likely to defy current market trends.
Let's take a look at seven shares with buy ratings and ambitious 12-month price targets from the professionals.
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Champion Iron Ltd (ASX: CIA)
The Champion Iron share price closed at $4.25 on Friday.
The ASX 200 iron ore small-cap share has lost 31% of its valuation in 2026.
RBC Capital has confidence this stock can turn it around.
The broker has a buy rating and an $8.07 price target, suggesting 90% growth over the next 12 months.
Brambles Ltd (ASX: BXB)
The Brambles share price closed last week at $16.92.
This ASX 200 industrial share has tumbled 26% in 2026 so far.
RBC Capital has hope for Brambles shares.
The broker reiterates its buy rating with a $27 price target.
This indicates a potential near-60% upside ahead.
Iperionx Ltd (ASX: IPX)
The Iperion share price finished Friday's session at $5.43.
This ASX materials share is down 6.2% in the calendar year to date (YTD).
Bell Potter maintains its buy rating with an $8.25 price target.
This implies a potential 52% upside ahead.
Megaport Ltd (ASX: MP1)
The Megaport share price closed last week at $18.48 apiece.
This ASX 200 tech share is up 50% so far in 2026.
Megaport shares ripped 19% last week and set a 52-week high of $21.16 on Friday.
The share price surge followed news of four new AI infrastructure contracts worth $458.9 million.
To fund the capex requirements for the new work, Megaport launched a fully underwritten $827.3 million entitlement offer.
Macquarie retains its buy rating and lifted its 12-month target from $26.30 to $27.80.
This implies potential capital gains of 50% ahead.
Qantas Airways Ltd (ASX: QAN)
The Qantas share price finished last week at $9.19.
The ASX 200 airline share has dropped 12.4% YTD.
Goldman Sachs renewed its buy rating on Qantas with a $12.25 share price target.
This implies a potential 33% increase over the next 12 months.
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price closed at $165.64 last week.
Macquarie maintains its buy rating on this ASX 200 healthcare share with a $221 target.
This suggests a potential 33% upside ahead.
Newmont Corporation CDI (ASX: NEM)
The Newmont share price finished at $148.76 on Friday.
This ASX 200 gold share has dipped 1.6% in 2026 while the gold price has lifted 3.3%.
UBS has a buy rating on Newmont shares with a 12-month target of $195.
This suggests a possible 31% upside ahead.
