S&P/ASX 200 Index (ASX: XJO) shares are up 0.3% to 8,692.5 points on Monday.
The market fell to a 15-week low last week as bond yields soared and expectations of an interest rate rise increased.
The Reserve Bank of Australia will announce its next cash rate decision tomorrow at 2:30pm.
Meanwhile, if you're looking for buy-the-dip inspiration, experts say these ASX stocks have big potential upside.
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Zip Co Ltd (ASX: ZIP)
The Zip share price is $2, up 0.76% on Monday.
Over the past month, this ASX 200 financial share has fallen 21%.
UBS renewed its buy rating on Zip shares with a 12-month price target of $4.70.
This suggests a potential 135% upside ahead.
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is $2.08, down 3.7% today.
Over the past month, this ASX healthcare share has fallen 16%.
Bell Potter has a buy recommendation on Mesoblast shares with a $4.45 target.
This implies the Mesoblast share price could double over the next 12 months.
Analyst John Hester issued an updated note following news of the T-Cell Proliferation Inhibition Assay (TIBA).
He said:
Mesoblast has announced FDA approval of an additional potency assay for Ryoncil.
MSB had not previously disclosed the development of this assay, however, it collaborated with the FDA on the project.
The assay will be equally applicable to the manufacture of rexlemestrocel-L.
MSB has extensive IP around both Ryoncil and Rexlemestrocel-L (aka Revascor).
Ryoncil carries Orphan Drug Designation and long life patents.
The development of the new TIBA assay further extends the moat around future revenues.
Xero Ltd (ASX: XRO)
The Xero share price is $57.79, up 0.75% today.
Over the past month, this ASX 200 tech share has fallen 33%.
UBS renewed its buy rating on Xero shares with a $127 target.
This suggests a potential 120% upside ahead.
WiseTech Global Ltd (ASX: WTC)
The WiseTech share price is $31.91, up 1.85% today.
Over the past month, this ASX 200 tech share has fallen 21%.
UBS has a buy rating with a $56 target on WiseTech shares.
This suggests a potential 75% upside ahead.
Ramelius Resources Ltd (ASX: RMS)
The Ramelius Resources share price is $3.82, down 1.29% today.
Over the past month, this ASX 200 gold mining share has edged 4% lower.
Canaccord Genuity upgraded Ramelius Resources shares to a buy call with a $6.15 target.
This indicates potential capital gains of 61% over the next year.
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price is $161.81, up 0.5% today.
This ASX 200 healthcare share has fallen 11% over the past month.
Citi renewed its buy rating on Pro Medicus shares with a $225 target.
This implies potential capital growth of 39% over the next year.
