S&P/ASX 200 Index (ASX: XJO) shares are down 1.1% to 8.816.7 points on Friday.
This week, brokers see new potential in several ASX shares.
Let's take a look at them.
Image source: Getty Images
Karoon Energy Ltd (ASX: KAR)
The Karoon Energy share price is $1.41, down 2.6% today.
Over the past month, this ASX 200 energy share has lost almost a third of its value.
Morgans upgraded Karoon Energy shares from a trim to hold rating on Tuesday.
The broker said:
A good company in a difficult position, dealing with multiple operational issues, albeit enjoying a nice bump in earnings resulting from the Middle East conflict.
Operator LLOG advised of ongoing operational issues leading to a 41% downgrade to Who Dat production in 2026, an 11% downgrade at group level. Down 20% in two sessions, KAR is trading close to our revised target price.
As a result, we lift our Trim rating to HOLD with a A$1.67 target price.
Morgans has a 12-month price target of $1.90, which implies very healthy upside of 35% ahead.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine Estates share price is $4.78, down 0.6% today.
Over the past month, this ASX wine share has risen 10%.
Citi upgraded Treasury Wine Estates shares to a buy rating on Tuesday.
The broker lifted its 12-month price target from $4.25 to $5.50.
This implies a potential 15% upside ahead.
Liontown Ltd (ASX: LTR)
The Liontown share price is $1.96, down 4.1% today.
In 2026, this ASX 200 lithium share has gained 21% in value.
Lithium commodity prices are rapidly recovering from a devastating two-year decline.
The carbonate price is now 43% higher YTD, following a 58% rise in 2025.
Macquarie upgraded Liontown shares to a buy rating on Monday.
The broker lifted its 12-month price target from $2.20 to $2.30.
This implies a potential 17% upside ahead.
Evolution Mining Ltd (ASX: EVN)
The Evolution share price is $12.55, down 5% today.
In 2026, this ASX 200 gold share has dipped 1%.
Macquarie upgraded Evolution shares to a buy rating on Tuesday.
The broker shaved its 12-month price target from $14 to $13.
This suggests just 3% potential upside ahead.
Sims Ltd (ASX: SGM)
The Sims share price is $29.45, down 1.8% today.
Over the past month, this ASX industrial share has ripped 31%.
Jefferies upgraded Sims shares to a hold rating on Wednesday.
The broker lifted its 12-month price target from $19 to $31.
This indicates a potential 6% upside over the next year.
Accent Group Ltd (ASX: AX1)
The Accent share price is 73 cents, down 0.7% today.
Over the past month, this ASX consumer discretionary share has soared 31%.
On Monday, Frasers Group plc (LSE: FRAS) made an unconditional on-market cash takeover offer of 65 cents per share.
Following the bid, Morgan Stanley upgraded Accent shares to a hold rating.
The broker has a 12-month target of 75 cents.
This suggests the ASX retail share is almost fully valued.
