ASX shares are falling further into the red in Thursday morning trade after the Reserve Bank warned that the outlook for inflation has become worse than projected yesterday
But here are three ASX shares I've noticed are travelling in the opposite direction so far this morning, and broker forecasts suggest they could keep climbing much higher over the next 12 months.
Image source: Getty Images
Audinate Group Ltd (ASX: AD8) shares
Audinate shares are up around 0.5% to $1.99 at the time of writing. But after a tough year, the shares have been beaten down 52% lower for the year-to-date.
The technology stock has been smashed lower this year by a sector-wide rotation from technology shares, combined with concerns about the company's slower cash generation and heavy investment into software products.
At its latest full-year FY26 results, the company announced a 15% increase in revenue but a $3.6 million loss in underlying EBITDA for the 12 months to 30th of June.
But the experts think the selloff has been overdone, and that the shares are now trading well below fair value.
Market Index data shows all brokers have a strong buy rating on the ASX shares. The $4.49 average target price implies an upside of 127% at the time of writing.
Judo Capital Holdings Ltd (ASX: JDO) shares
Judo shares are up around 0.5% in Thursday morning trade, to 95 cents a piece. It's been a tough year for the ASX bank stock, though, and its shares are now down around 47% for the year-to-date.
The shares were tracking well through the first half of the calendar year but crashed over 40% within a day in late-June after the company downgraded its profit guidance for FY26 and investors were left scratching their heads about the bank's near-term outlook.
The final result in August was a little better than expected, coming in a the top end of guidance. Judo Bank announced strong gains across the board. NPAT increased 29%, and profit before tax increased 34%.
The shares have clearly regained investor interest but not enough to propel the shares back to pre-crash levels.
But the experts still see some potential upside ahead. Market Index data shows the majority of brokers have a strong buy on the ASX shares. The $1.38 average target price implies an upside of around 45% at the time of writing.
Bellevue Gold Ltd (ASX: BGL)
Bellevue Gold shares are up around 1% to $1.40 at the time of writing on Thursday morning. It's a step in the right direction but they've swung between $1.19 and $2 so far in 2026. This has followed mixed operational updates and continually changing sentiment about ASX gold shares. They're now down around 18% for the year-to-date.
The shares are back in the spotlight this week after it announced an exploration update and annual Resource and Reserve statement for its Bellevue Gold Project, in Western Australia.
Bellevue said that exploration drilling will form an important element of its renewed growth strategy, with exploration set to "substantially increase" in FY27.
The miner also revealed that the Bellevue Gold Project now has an Indicated and Inferred Resource of 2.7 million ounces at 8.6 grams per tonne gold. That compares to 3.1Moz at 8.9g/t gold last year.
Market Index data shows all brokers agree a strong buy rating. The $1.90 average target price implies an upside of 35% at the time of writing.
