ASX shares have trended higher on Tuesday afternoon as falling oil prices help ease some inflation concerns.
Here are four ASX shares that brokers are forecasting could help drive the index higher over the next 12 months.
And one of them is tipped to soar up to 125%.
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Silex Systems Ltd (ASX: SLX)
Silex Systems develops and commercialises laser technology to sort and separate different types of isotopes to prepare uranium for nuclear power plants.
At the time of writing on Tuesday afternoon, the ASX uranium company's shares are up around 4% to $4.61 a piece. The increase is great news for investors after the beaten-down stock tumbled 16% over the past month, and is down 48% for the year-to-date.
The latest increase follows a recent announcement that Global Laser Enrichment (GLE), which is 51%-owned by Silex, has signed an exclusive Offtake Agreement with major partner Cameco Corporation. Under the agreement Cameco will buy all of the future production of GLE's planned Paducah Laser Enrichment Facility (PLEF), in Kentucky.
A recent uptick in uranium prices has also likely supported Silex shares. Trading Economics data shows that the metal is trading around US$90 per pound, close to a six-month high.
Market Index data shows brokers are very bullish on the outlook for the stock. All brokers have a strong buy rating and the $10.33 average target price implies an upside of around 125% at the time of writing.
Zip Co Ltd (ASX: ZIP)
Zip shares are also climbing around 1% higher on Tuesday, to $2.26 at the time of writing. It's been a volatile ride for the buy now, pay later provider after the shares reached a mutli-year high in October last year, then tumbled to an annual low in March. The ASX shares started rebounding again but the sell off accelerated again after it posted its FY26 results last month. They're now down around 52% compared to a year ago.
Zip posted a record result, including a huge 57.9% increase in its cash EBTDA, a 24.7% increase in total revenue, and a 45.7% hike in its NPAT for FY26. For FY27 Zip is targeting a cash EBTDA of $340 million, up another 26%.
While the results were positive on the surface, many were underwhelmed by the company's growth outlook.
But the news hasn't deterred brokers who still hold a unanimous strong buy rating, according to Market Index data. The $3.95 average target price also implies an upside of around 74% at the time of writing.
Deep Yellow Ltd (ASX: DYL)
Deep Yellow is an ASX uranium development company with a portfolio of Australian and global projects. Like Selix, its shares are also climbing much higher on Tuesday afternoon off the back of a stronger uranium price and renewed investor confidence in uranium stocks.
At the time of writing, Deep Yellow shares are up around 4% and are changing hands at $1.39. The current share price represents a 29% decline for the year-to-date and a 31% drop from 12 months ago.
Late last month, the company announced the completion of two major milestones at its flagship Tumas Project in Namibia. These included a long-term water supply agreement and finalisation of local ownership arrangements. The company is now focused on successfully progressing its Tumas Project towards a Final Investment Decision in Q4 2026.
Brokers are also bullish that the ASX shares can climb even higher over the next 12 months. Market Index data shows the majority have a strong buy rating, and the $2.28 average target price implies an upside of around 64% at the time of writing.
Nine Entertainment Co Holdings Ltd (ASX: NEC)
Media giant Nine Entertainment posted its FY26 results late last month, including a 3% increase in revenue, a 17% increase in EBITDA, and a 7% increase in NPAT.
The result comes after the company underwent a strategic reshape of its business during the first half of FY26. Nine Entertainment sold its stake in Nine Radio and property platform Domain, restructured its NBN and Darwin TV operations, and acquired QMS Media. The strategy shifts the company's focus toward growth areas like streaming, outdoor and digital publishing.
But it looks like investors weren't happy with the result. On the day of the announcement, the Nine Entertainment share price spiked around 7%. But then it was soon followed by a selloff.
The shares have now fallen around 29% to just 75 cents at the time of writing. The latest crash means the ASX shares are now 36% lower than 12 months ago.
But it looks like brokers are still bullish that the company can recover this year. Market Index data shows the majority have a strong buy stance on the ASX shares. The $1.21 average target price implies a potential 63% upside ahead.
