The Australian share market has traditionally generated an annual return in the region of 10%.
But investors don't have to settle for that.
Not when there are ASX 300 shares out there with the potential to deliver outsized returns over the next 12 months.
But which share could be a buy? Bell Potter thinks the one in this article is worth considering.
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Which ASX 300 share?
Bell Potter is recommending GenusPlus Group Ltd (ASX: GNP) shares to clients.
It is an Australian infrastructure services provider specialising in the end-to-end design, construction, and maintenance of electrical transmission networks, substations, battery energy storage systems, and telecommunications infrastructure.
Bell Potter highlights that the ASX 300 share has started FY 2027 in a positive fashion. It said:
GNP has started FY27 on a strong footing with several contract awards. We estimate GNP has converted 10% of its $3.6b FY26 tender pipeline value this financial year so far; the company has averaged a 62% conversion rate over FY23-FY25. Accounting for the recent contract awards, our FY27-28 revenue forecasts are now 5% and 18% uncontracted, respectively, compared with 7% and 24% previously. We make no changes to our forecasts in this report.
One contract is from mining giant Rio Tinto Ltd (ASX: RIO) and is estimated to be worth $55 million. It adds:
GNP has been awarded ~$350m of contracts this financial year to date. Firstly, GNP was contracted to construct the 220kV Millstream Substation expansion in the Pilbara region of WA by Rio Tinto, with the work package valued at ~$55m. Works are scheduled to complete in mid-CY28
Big potential returns
According to the note, the broker has retained its buy rating and $12.80 price target on the ASX 300 share.
Based on its current share price of $9.67, this implies potential upside of 32% for investors over the next 12 months.
Speaking about its buy recommendation, the broker said:
GNP is working through a record tender pipeline valued at $3.6b (as at FY26; up 50% YoY) across the transmission, BESS, rail and wind farm construction markets. GNP's FY27 PE of 19.1x is undemanding; we see potential for a re-rate towards 22-24x in the near-term, a justified premium to the peer group average. Catalysts to drive this multiple re-rate include: 1) a guidance upgrade (we view the FY27 guidance as conservative); 2) strong conversion of the tender pipeline; and 3) further M&A.
