With the ASX 200 experiencing a down year by historical standards, many investors will be staring down the barrel of a flat portfolio.
But the silver lining of a down year is that there are plenty of ASX shares offering significant upside.
When markets are flat or underperforming, it means there are value opportunities for investors.
Here are three such ASX shares tipped to rise significantly over the next 12 months.
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Light & Wonder Inc (ASX: LNW)
Light & Wonder, Inc. engages in the development of technology-based products, services, and associated content. It operates through the following segments: Gaming, SciPlay, and iGaming.
Its share price has fallen by over 25% year to date; however, it has been generating plenty of buzz amongst experts.
It appears now could be the chance to scoop up this blue-chip consumer discretionary stock at a considerable discount.
It closed trading yesterday at $116.35 per share.
However, Macquarie recently placed a $200 price target on these ASX shares.
Bell Potter placed its most recent 12-month target at $192 per share.
If it were to reach this range in the next 12 months, it would represent a 65%-72% gain.
Judo Capital (ASX: JDO)
Bank shares have been one of the sectors that have largely underperformed in 2026.
Investors usually associate the sector with steady revenue and reliable dividends.
However, the big four banks have all struggled in 2026.
It appears that for banking stocks, opportunity lies outside the big four.
Enter Judo Bank.
The Australian bank focused on lending to small and medium enterprises (SMEs) has seen its share price fall 20% year to date.
However, experts are tipping this bank stock as the one to buy in 2026.
The team at Morgans recently retained a buy recommendation on this small business lender's shares with an improved price target of $2.15.
From current levels, this indicates an upside of 50%.
Idp Education (ASX: IEL)
IDP Education Ltd is a global education service offering English language testing and international student placement services. The company is a co-owner of IELTS, or International English Language Testing System, which administers English language testing around the world.
Its share price rose 5% yesterday, but it remains down by more than 60% year to date.
Brokers now believe these ASX shares have been oversold.
A note out of Morgans said it sees scope for earnings to stabilise and return to growth from FY27.
The broker has placed a price target of $3.15 on these ASX shares.
This target is 50% higher than current levels.
