The broker has listed two as a hold and tipped one to rise up to 72%. 

Here's what the broker had to say. 

Champion Iron Ltd (ASX: CIA)

Champion Iron is an iron ore miner, explorer, and developer.

In a new report from Bell Potter, the broker listed these ASX shares as a hold. 

The broker said iron ore prices were slightly higher in the June 2026 quarter but have since fallen.

Because prices are declining, freight costs remain high, and market expectations are weaker, Bell Potter expects Champion Iron to receive a lower average selling price. 

The broker has lowered its 12 month price target to $4.40 (previously $4.80), which indicates a 13% upside from current levels. 

While we expect iron content price premiums for this product, full value-in-use premiums are unlikely to be realised until longer-term offtake is secured. Free cash flow should improve from FY27 as capex rolls off, supporting debt servicing and ongoing dividends. On valuation, we retain our Hold recommendation.

Beach Energy Ltd (ASX: BPT)

Yesterday, Beach Energy released its FY26 Fourth Quarter Activities Report. 

The company reported quarterly production of 4.9 million barrels of oil equivalent (MMboe) and total revenue of $400 million for the June quarter.

Following the results, Bell Potter lowered its price target on these ASX shares to $0.950 (previously $1.150). 

This indicates just over 8% upside for these ASX shares. 

The broker retained its hold recommendation, and said the company is in a production replacement cycle with respect to exploration and appraisal.

Production growth should return in FY27 and capex ease, enabling positive free cash flow to support balance sheet deleveraging and ongoing dividends. We are positive on BPT's exposure to Australian east coast gas markets (around half of sales volumes) and cautious with respect to global oil markets.

Regal Partners Ltd (ASX: RPL)

Yesterday, Regal Partners released preliminary H1 2026 results.

The company engages in the provision of investment management services.

According to the release, normalised NPAT is expected to double to at least $90 million and record net FUM inflows of over $1.3 billion for the half.

Following the result, Bell Potter said this guidance is just a minimum rather than a cap, suggesting there is potential for further upside.

The company also reported record quarterly net inflows of $911 million, supported by strong fundraising, while underlying inflows exceeded Bell Potter's expectations. 

Although funds under management were slightly below forecasts due to distributions, buy-backs and weaker market movements, investment performance and client demand – particularly for hedge funds – were better than expected, supporting continued earnings growth.

Based on this guidance, the broker has retained its buy recommendation and price target of $4.80, which indicates an upside of 72%. 

The post Broker tips up to 72% upside for one of these ASX shares  appeared first on The Motley Fool Australia.

It is one of Australia's largest furniture retailers competing within the middle to upper end of the Australian furniture market. It also has a growing global presence via its UK entry.

In general, it has been a tough year for consumer discretionary shares. Inflation and high interest rates have impacted consumer spending. 

This has been reflected in the performance of Nick Scali shares, which are down over 30% in 2026. 

However, a new report from Bell Potter has suggested Nick Scali shares may have been oversold, creating a buy-low opportunity. 

Strength into close of FY26 – cautious on FY27

In yesterday's report, Bell Potter said it expects Nick Scali to finish FY26 strongly.

Recent sales indicators have been positive, giving the broker confidence that the company's seasonally strong fourth quarter met expectations.

However, Bell Potter is more cautious about FY27 because consumer confidence is weak in both Australia and the UK, especially for big-ticket household purchases like furniture.

The broker expects challenging trading conditions over the next nine months and believes FY27 will be the low point in the retail cycle.

Even so, Bell Potter expects Nick Scali to perform better than the average retailer during this difficult period.

There are also some early signs that improving housing activity in Australia and better industry trends in the UK could support a gradual recovery.

Bell Potter has reduced its FY27 and FY28 earnings forecasts, mainly because it now expects slower sales growth in the UK than previously forecast.

While our FY26e estimates remain unchanged, we apply some conservatism to our forward estimates within our revenue assumptions for NCK's mid-market brand Plush in Australia and in the UK. Majority of our earnings changes are driven by revenue assumptions in the UK vs our previous assumptions for a sizable ramp-up in average store revenues.

Price target reduced but upside remains 

Based on this guidance, Bell Potter has reduced its price target on Nick Scali shares to $22.00 (previously $25.00). 

It has retained its buy recommendation. 

Despite lowering its target, the broker still forecasts over 36% upside from current levels. 

With a cautiously optimistic view on the broader Consumer Discretionary sector and looking through to mid-term opportunities, we continue to favour category outperformers such as NCK and see lower risk on margins in manoeuvring revenue growth vs other retailers in our coverage. 

This sees us sitting ahead of median Consensus in FY27/28e (below in FY26e). We view NCK among the highest quality retailers in our coverage, with a stable market share in ANZ and UK offering sufficient growth levers.

The post Why Nick Scali shares are set for a 36% rebound: Expert appeared first on The Motley Fool Australia.

COG Financial Services is a collection of distribution businesses focused in Australia.

It provides access to credit (and related insurance) for commercial assets through a broker network and maintains the balance sheet capacity to fund direct originations, capturing some overflow on non-prime chattel mortgages. 

The acquisition of Paywise in 2023 marked a shift in the expansion and capital recycling approach, with greater strategic focus on novated leasing.

Year to date, its share price has fallen 30%, however Bell Potter is tipping a strong rebound in the next 12 months. 

Novated leasing 

Bell Potter highlighted that June was a record month for novated lease vehicle sales. 

Private buyers were up 11%, and business buyers were up 6%, even despite interest rates staying high. 

Some of this comes from normal seasonal price cuts, but carmakers also ran extra discounts through specific sales channels. 

Bell Potter expects this ASX financials company to sound upbeat about this part of the business, since electric vehicles' share of sales jumped from 10% to 24%, marketing campaigns are working well, and BYD is running fresh cashback deals for specific orders placed in July and delivered by August.

In short, the company's car-leasing business (novated) looks strong going into the results, driven by EV demand and discounts.

Broking 

The report from Bell Potter said ABS data on business investment won't be released before COG reports its results. 

Therefore Bell Potter is basing its view on the broader weak economy and high interest rates, which are expected to weigh on the broking side of the business. 

Small business confidence is poor, having dropped sharply in March with little recovery since. Business investment plans hit a record low in April. 

On top of that, profit margins on loans keep shrinking, while loan volumes are actually rising. This pushes up the cost of running this part of the business.

Big upside in tact for this ASX financials stock 

Despite the mixed outlook, recent share price weakness makes this ASX financials stock an attractive proposition. 

Bell Potter has retained its buy recommendation and has an updated price target of $2.10. 

From yesterday's closing price of $1.425, this indicates an upside potential of 47%. 

Recent commitment from government has extended the adjustment on electric vehicles and made this measure permanent. We see this as a multi-year-outcome, enhanced through successful tendering.

The post Top broker tips 47% upside for this ASX financials stock  appeared first on The Motley Fool Australia.

With global headwinds impacting the ASX 200 this year, it could be an ideal time to allocate capital towards high upside stocks. 

The team at Bell Potter have identified two in particular that fit this criteria. 

Let's see what the broker is projecting. 

Orthocell Ltd (ASX: OCC)

Orthocell is an Australian-based, commercial-stage regenerative medicine company developing and commercialising collagen-based medical devices and autologous cell therapies for the repair and regeneration of bone and soft tissue.

The company leverages their proprietary collagen processing and manufacturing platform to produce implantable biomaterials designed to support tissue regeneration and functional recovery.

As is commonplace with small-cap shares, it has experienced some volatility in 2026. 

However, Bell Potter has a speculative buy rating on this ASX small-cap, suggesting it could rise by 40% in the next year. 

In a note released yesterday, Bell Potter said June-quarter revenue increased 19% QoQ to a record $3.8m (+36% pcp), reflecting continued strength across the established market.

The broker said the US rollout of Remplir is making good progress. 

The product is now available to around half of the US population through expanded distributor coverage. 

Hospital access is also growing, with approvals in 151 hospitals and more applications still under review. 

In simple terms, more hospitals are buying the company's nerve repair product Remplir, and more surgeons have started using it. 

However, sales growth has trailed hospital access growth, suggesting many surgeons are still trialling the product and are yet to commit.

Based on this guidance, Bell Potter has a 12-month price target of $1.19 on this ASX small-cap, indicating a 40% upside from current levels. 

Sky Metals Ltd (ASX: SKY)

Another ASX small-cap drawing a speculative buy rating is Sky Metals. 

Sky Metals engages in the acquisition, exploration, and development of mineral resources.

Its share price has rocketed 183% higher year to date, and Bell Potter believes the growth can continue. 

Bell Potter noted that Sky Metals has significantly increased the estimated size of its Tallebung project in New South Wales. 

The updated resource now contains much more tin and tungsten than previously estimated. The company has also identified its first silver resource. 

Much of the resource is now classified with higher confidence, making it more likely to be converted into mineable reserves.

Based on this guidance, the broker has placed a 12-month price target of $0.350 on this ASX small-cap, indicating 37% upside from current levels. 

The post 2 ASX small-caps with 40% upside appeared first on The Motley Fool Australia.

Jumbo Interactive operates Oz Lotteries, a reseller of digital lottery tickets (e.g., Powerball, Oz Lotto) in Australia, and provides lottery software platforms and lottery management expertise to government and charity lotteries, primarily in Australia, the UK, and Canada.

Investors were jumping on board after the company released an updated FY26 outlook.

The 10% rise was a welcome change for investors as the lottery company has seen its share price fall almost 40% year to date.

What did the company report?

Yesterday, the consumer discretionary company provided an update to its FY26 Outlook ahead of the scheduled release of its FY26 results on 27 August 2026.

• Dream UK: EBITDA for the 8.5-month period has been revised down to £7.0-7.3m (previously £8.0-8.3m).
• Dream US: EBITDA for the 8-month period has been upgraded to US$5.2-5.5m (prev. US$2.7m-3.0m).

Dream UK and Dream US are lottery businesses that Jumbo Interactive has acquired. 

What is Bell Potter's view?

Following the announcement, Bell Potter provided updated guidance on the consumer discretionary stock. 

Commenting on the release, Bell Potter said the downgrade of Dream UK reflects increased business investment during the founder transition period, new market-testing initiatives, and seasonality. 

Despite this, the business remains on a strong trajectory with expected annualised year-on-year growth of between 20% and 25%.

Meanwhile, commenting on the Dream US update, the broker said this strong performance was driven by an increased number of draws (29 draws in FY26e vs 16 previously) and favourable draw timing. 

JIN will migrate Dream US onto the Jumbo Lottery Platform (JLP) and a new app in 1Q27. We are pleased that JIN is already seeing revenue synergies in this business and are incrementally more confident of further synergies following JLP integration.

Minimal upside for ASX consumer discretionary stock

Despite the 10% jump in share price yesterday, Bell Potter appears to see this as a one off spike rather than a sign of further growth. 

The broker has retained its hold recommendation on the ASX consumer discretionary stock. 

It has slightly raised its price target to $7.20 (previously $7.10). 

From yesterday's closing price of $7.18, this indicates little to no upside in the next 12 months. 

Although we are encouraged with the improvement in Dream US and Stride, we continue to see risks to market share as TLC's offering improves and as new players play lotteries. We await evidence of positive market share data during periods of strong Powerball jackpots before we turn more positive on the stock.

The post Is this ASX consumer discretionary stock a buy after jumping 10% yesterday? appeared first on The Motley Fool Australia.

The company is a healthcare service provider focused on optimising brain health assessments, predominantly for clinical trials of novel medicines. 

It has been a shining light in 2026 amongst a weaker ASX healthcare sector. 

Cogstate shares have risen 17% year to date while the S&P/ASX 200 Health Care Index (ASX: XHJ) has fallen almost 20%. 

Bell Potter appears optimistic the growth can continue in the next 12 months. 

Here is what the broker had to say. 

Strong performance continues

According to the broker, the company had another strong quarter.

The company reported new contract sales of US$21.9 million. 

This is the fourth quarter in a row with more than US$20 million in sales. Total contract sales for the year reached US$89 million, which is a record for its Clinical Trials business.

Additionally, the company's revenue backlog (work already contracted but not yet recognised as revenue) grew to US$118.5 million, up 32% from a year ago.

This is important because the business now has more future work secured than ever before.

This was a comfortable beat to our prior expectations and is a 54% increase compared to where FY26 contracted revenue started.

Forecasts lifted

The broker also noted the US$21.9 million in new contracts signed in the latest quarter, US$12.7 million will be recognised as revenue in FY27.

This increases the amount of revenue already locked in for FY27 to US$48.3 million, up from US$35.6 million three months earlier.

Bell Potter says this result was better than expected and means FY27 starts with 54% more contracted revenue than FY26 did.

Because of this stronger starting position, Bell Potter has raised its FY27 revenue forecast by 11% and also increased its FY28 forecast.

Bell Potter now expects EBITDA in FY27 and FY28 to be 19-23% higher than previously forecast, with profit margins improving to the mid-30% range.

Increased upside for ASX healthcare stock

Based on this guidance, Bell Potter has increased its price target on Cogstate shares to $3.70 (previously $3.20). 

The broker has retained its buy recommendation. 

Based on yesterday's closing price, this indicates 37% upside potential for this ASX healthcare stock. 

We were surprised with the soft share price response today following what we considered to be another strong quarterly update with little to scrutinise.

The discount is despite Cogstate's far higher growth rate than peers, now forecast at ~18% annualised over the next 2 years compared to peers ranging from -1% to 8%, i.e. Cogstate has more than double the growth outlook of the next best CRO peer, not to mention a higher NPAT margin (BPe 24%) and no debt.

The post Top broker tips 37% upside for this exciting ASX healthcare stock appeared first on The Motley Fool Australia.

While these ASX shares have performed very differently in 2026, Bell Potter sees similar upside moving forward. 

Here's what the broker is tipping over the next 12 months. 

Develop Global Ltd (ASX: DVP)

Develop Global is an Australia-based resources company that operates a unique hybrid business model centred on decarbonisation and energy transition.

In 2026, its share price has risen over 32% on the back of strong sector wide tailwinds. 

A new report from Bell Potter suggests this rise can continue in the next year. 

Bell Potter raised its outlook for Develop Global because copper and zinc prices are stronger than expected, although silver prices are a little weaker.

It expects the Woodlawn project to have its first full quarter operating at commercial production levels, with a chance of producing even more than planned as the mine continues to improve. 

Higher-grade ore is also expected to be mined over the next year, which should increase copper production.

The broker also expects DVP to benefit from unusually low treatment and refining charges, meaning the company keeps more of the value from the copper it produces. Overall, these factors should support stronger earnings.

The broker has reiterated its buy recommendation and increased its price target to $7.20. 

From yesterday's closing price, this indicates 20% upside for Develop Global shares. 

FY27 marks a transformational year for DVP as ramping Woodlaw and Pioneer Dome production, and copper, zinc, and spodumene DSO price leverage demonstrate an inflection in FCF and rapid earnings growth.

Netwealth Group Ltd (ASX: NWL)

Netwealth shares have also attracted a buy recommendation from Bell Potter this week. 

Its share price jumped 6% yesterday on a key announcement, and the broker expects this rise can continue after a tough start to 2026. 

In yesterday's report, Bell Potter said the company has announced an agreement with Morgan Stanley Wealth, seen as a multiyear outcome, and flagged further (smaller) wins to come from the segment. 

We expect this will unravel over the next year or so, comments suggesting there are maybe two more wins on the cards. NWL has an existing relationship with the firm, and this this extends the integration. The deal will add flexible execution and build in sponsored ASX listed and domestic investments.

Bell Potter has retained its $30 price target on Netwealth shares, which indicates a 23% upside from current levels. 

The post Broker tips 20% and 23% upside for these 2 ASX stocks appeared first on The Motley Fool Australia.

It has been a tough year for Amplitude Energy shares ,which have crashed over 50% year to date. 

For comparison, the S&P/ASX 200 Energy Index (ASX: XEJ) is up 10% in the same period.

However, despite the struggling performances thus far, Bell Potter sees big upside over the next 12 months. 

Here's what the broker had to say. 

Quarter impacted by seasonality and sentiment

Bell Potter expects Amplitude Energy's June 2026 quarter to be softer, with production broadly flat but lower realised gas prices due to mild seasonal demand, stronger supply from Longford, and weaker sentiment across the energy sector. 

Despite this, the broker believes the company remains on track to meet FY26 guidance and expects market conditions to improve. 

Bell Potter is increasingly positive on the East Coast Supply Project, noting it has been substantially de-risked following the Artisan acquisition, with a positive Final Investment Decision anticipated this quarter. 

Supported by a solid balance sheet and existing assets generating around $150 million in annual free cash flow, Bell Potter believes Amplitude Energy is well positioned to fund the project's remaining development toward first production in 2028.

AEL is a pure-play leverage to the southern east coast Australia gas market with the majority of its gas sales under stable contracted prices. The company's flagship 100%-owned Gippsland Basin asset is now consistently operating near nameplate capacity (68TJ/day); debottlenecking could see incremental improvements.

Big upside in tact 

Based on this guidance, the team at Bell Potter has slightly lowered its price target to $2.50 (previously $2.90). 

However from yesterday's closing price of approximately $1.295, this indicates an upside potential of 93%. 

It has retained its buy recommendation. 

AEL is in a strong position to meet FY26 guidance despite the weaker June 2026 quarter and we expect energy markets and sentiment to normalise. 

The East Coast Supply Project has been de-risked through the Artisan acquisition, and we expect a positive Final Investment Decision in the current quarter.

Encouragingly, Bell Potter isn't the only expert tipping a big rebound for Amplitude Energy shares. 

Morgans recently said there had been some sizable, albeit short-term catalysts, that recently pushed the share price lower. 

However, the broker now sees it as a rebound candidate. 

Morgans has a buy rating on Amplitude shares with a price target of $3. 

This indicates 130% upside from current levels. 

The post Amplitude Energy shares could be set to soar 90%: Expert appeared first on The Motley Fool Australia.

As Laura Stewart reported yesterday, the company reported preliminary FY26 results, featuring revenue up more than 12% to about $1.97 billion. 

This was despite China infant milk formula (IMF) sales declining due to supply chain disruptions.

Key results included: 

• FY26 revenue of approximately $1.97 billion, up over 12% year-over-year
• China label IMF sales down around 14% on FY25 after supply chain issues in 4Q26
• EBITDA margin expected at the high end of 14.0% to 14.5% guidance
• NPAT anticipated to be slightly up on FY25, with underlying NPAT also rising

Following the results, A2 Milk shares fell over 4%. 

What is Bell Potter's updated outlook on A2 Milk shares?

Following the results, the team at Bell Potter provided updated guidance on A2 Milk shares. 

Bell Potter views the update as broadly positive, with revenue expected to land within guidance at $1.97 billion and EBITDA margins at the top end of the guided range, resulting in EBITDA of around $285 million, broadly in line with expectations. 

Profit guidance has improved, with NPAT now expected to be slightly higher year-on-year and operating cash conversion upgraded to around 70%, reflecting stronger cash generation than previously guided.

The key disappointment was the weaker-than-expected performance of China label infant formula, with revenue expected to decline 14% year-on-year and second-half sales falling more than 40% after adjusting for foreign exchange, significantly below Bell Potter's forecasts. 

While product supply issues have largely been resolved and management is now focused on marketing initiatives to win back former customers and attract new users, Bell Potter believes the weakness suggests the company may need to rebalance its China sales mix in FY27.

As a result, Bell Potter has modestly increased its FY26 earnings forecast but reduced FY27 and FY28 estimates to reflect higher expected brand investment and a slower recovery in China. 

NPAT forecasts have been revised up 3% for FY26, but down 6% for FY27 and down 5% for FY28.

Hold recommendation maintained 

A2 Milk shares have experienced volatility in 2026, and are currently down nearly 20% year to date. 

Yesterday, A2 Milk shares closed at $7.37 per share. 

Bell Potter has maintained its hold recommendation and share price target of $6.90 on the company. 

This indicates a 6% downside from current levels. 

The post What is Bell Potter saying about A2 Milk shares after its results? appeared first on The Motley Fool Australia.

Year to date, its share price is down over 15%.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has climbed just over 1% in the same period.

However, this ASX financials stock closed last week with a strong 6% gain on Friday, which could be the beginning of a rebound for HUB24 shares.

The team at Bell Potter has retained its buy recommendation on this ASX financials stock and laid out the potential for a big return in the next 12 months.

Here's what the broker had to say. 

Quarter update

Hub24 is a diversified financial services business. The company's core platform segment develops and provides an administrative services platform to financial advisers, stockbrokers, accountants, and their clients.

Bell Potter updated its financial model after a strong June quarter for global investment markets.

Since HUB24's platform fees are linked to the value of client investments, stronger markets increase funds under administration (FUA) and future revenue expectations.

Bell Potter slightly increased its FUA forecasts for FY2026–FY2028 but left earnings per share (EPS) forecasts unchanged.

Strong Recovery in Global Markets

After a weak start earlier in the year, global share markets rebounded strongly and reached new record highs.

The biggest gains came from the US, while Europe also performed well.

Australia's market rose but lagged behind most major markets, with the ASX 200 gaining 3.5% over the quarter.

What does this mean for this ASX financials stock?

Bell Potter expects HUB24 to report around $4.1 billion of net new client inflows for the quarter, plus $6.3 billion from investment market gains.

Together, these factors should lift total funds under administration. If quarterly inflows are closer to $5 billion, it would signal that growth has returned to its previous pace and could be positive for the share price.

Based on this update, Bell Potter has retained its buy recommendation and $110 price target on this ASX financials stock.

From Friday's closing price of just over $81, this indicates an upside potential of almost 36%.

Our Buy recommendation is unchanged. While lumpy, the company delivered record net adviser additions and consistent new distribution agreements, providing material growth runway, and guidance is de-risked through mark-to-markets.

The share price has fallen -32% from the November peak, despite earnings upgrades and further positive adjustments still yet to flow through.

The post Why this ASX financials stock is tipped to rebound 35% in the back half of 2026 appeared first on The Motley Fool Australia.

Why Telstra shares are in so many portfolios

Telstra is Australia's largest and longest-running provider of telecommunications and information products and services. 

As one of the largest listed companies on the ASX, the telecommunications and information service provider also has a presence in 20 countries around the globe.

Its market dominance provides a defensive option for many investors, while also having a strong track record of paying healthy dividends.

These characteristics have helped Telstra shares climb 6% in 2026, while much of the ASX 200 has lagged amid global headwinds and inflation fears.

So is it a buy, hold or sell according to Bell Potter?

Here is what the broker is saying. 

Under the microscope

Bell Potter has updated its forecasts before the end of the financial year.

The changes reflect:

• Higher mobile plan prices introduced in early May.
• Higher NBN broadband prices for home and small business customers from 1 July.
• Growing competition from Starlink, especially in regional and remote Australia.
• More certainty about Telstra's share buyback, which affects the number of shares on issue.

Bell Potter slightly increased its revenue forecasts (by less than 1%) to reflect Telstra's recent price rises, but trimmed its underlying EBITDAaL profit forecasts by around 1% for FY26–FY28, as higher costs and increasing competition are expected to offset much of the additional revenue.

Overall, Telstra's recent price increases should modestly boost revenue, but stronger competition (particularly from Starlink) and other factors slightly reduce profit expectations. 

Bell Potter still expects Telstra to deliver on its guidance and maintain its dividend.

Hold recommendation maintained

Based on this guidance, Bell Potter has a hold recommendation on Telstra shares along with a $5.10 price target. 

This target indicates that Telstra shares are currently trading close to fair value. 

We expect little if any surprises at the upcoming result so the focus shifts to the FY27 guidance and outlook. We and the market continue to forecast mid to high single digit growth in the key metrics of underlying EBITDAaL, cash EBIT and EPS.

Bell Potter said the key focus, therefore, is more likely to be on capital management and, in particular, whether any further share buy-back is announced. 

Telstra has already flagged growing dividends as part of its Capital Management Framework but there is perhaps some question over whether it can continue to fund share buy-backs consistent with the levels of the past two years.

The post What is Bell Potter's updated view on Telstra shares? appeared first on The Motley Fool Australia.

WA1 listed on the ASX in February 2022. Since then, it has focused on an aggressive drill-out program at West Arunta, specifically targeting the Luni carbonatite structure. 

Niobium is a niche commodity, primarily micro-alloyed into structural steel to improve strength and reduce weight in applications.

In the last 12 months, this ASX materials stock has been relatively flat.

However a key announcement has led to a strong upgrade from the team at Bell Potter who now see this ASX materials stock as one that could double in the next 12 months. 

What happened?

WA1 has completed larger-scale processing tests on ore from its Luni niobium project. 

The tests showed the company can successfully concentrate the niobium into a high-grade product using a relatively simple flotation process and ordinary site water.

For investors, this is a big positive as one of the biggest risks for any mining project is whether the ore can actually be processed economically.

These results show that:

• The processing method appears to work consistently across different parts of the deposit.
• The quality of the concentrate produced is high enough to be commercially attractive.
• The project's future processing plant design is becoming more certain.

In mining terms, this "de-risks" the project because investors now have more confidence that the ore can be turned into a saleable product.

Standout results

The best area of the deposit (Composite A), which is expected to be mined first, delivered:

• 46% niobium concentrate grade
• 67% recovery rate.

Recovery rate means 67% of the niobium in the ore was successfully captured during processing.

This was better than previous test results and suggests the project could be more profitable than originally expected.

Because recoveries were stronger than expected, Bell Potter increased its assumption for how much niobium WA1 can extract from the ore.

Big upgrade for ASX materials stock

As a result, Bell Potter has upgraded its price target on this ASX materials stock to $27.20 (previously $24.40). 

This is significant because this ASX materials stock currently trades for around $12.50 per share. 

The new target from Bell Potter indicates an upside potential of 129%. 

The testwork confirms a two-stage flotation regime can produce high-quality niobium concentrates with commercially relevant recoveries across the deposit, using raw site water.

The broker has retained its speculative buy recommendation. 

The post Bell Potter tips 129% upside for this ASX materials stock appeared first on The Motley Fool Australia.

These well known online classifieds companies provide customers with property and job listings. 

REA Group shares are down 38% in the last year, while Seek shares are down 44%. 

However AI takeover fears and competition threats have soured sentiment in recent times. 

Despite these headwinds, both have received some positive views from brokers after being heavily sold off. 

New analysis from Bell Potter sees plenty of upside for one of these stocks, while the other could be in very real danger of falling further. 

Here is the updated view from the broker. 

Why REA shares are a sell 

A new report from the team at Bell Potter has reiterated its sell rating on the ASX 200 stock. 

There are four key reasons the broker expects further share price declines in the next 12 months: 

• Elevated near-term RBA cash rate forecast expected to soften demand for lending
• Recent budget measures adversely impacting property investment as an asset class, particularly in the investor book, partially offset by owner-occupied
• Both factors combined expected to negatively impact average national dwelling values and listing volumes, more than offsetting Buy yield for REA
• REA's history of EPS declines in a falling 12-month average dwelling price environment raises further concern. 

The broker also reduced its price target on REA shares to $133 (previously $137). 

From yesterday's closing price, this indicates a downside of 8%. 

REA published a Property Outlook Report (available on rea-group.com.au) outlining an internal expectation for largely flat prices YoY in CY2026 across combined capital cities, before rebounding to 5.5% growth in CY2027. 

A flat print for CY2026 implies a weak 2HCY2026 with YoY combined capital cities growth currently 6.4% as at May.

Why Seek shares are a buy

In good news for investors, the broker is more optimistic about Seek shares. 

Bell Potter retained its buy recommendation on Seek shares along with a price target of $18.60. 

This target indicates 39% upside from current levels. 

The broker did note the number of job listings on Seek's Australian platform is declining at a faster rate, and Seek is underperforming compared to competitors. 

However, people are still actively applying for jobs, suggesting underlying demand for work remains healthy.

Bell Potter expects Seek to bounce back when interest rates fall, as it has done in previous economic recoveries.

The post What is Bell Potter's updated view on Seek and REA shares? appeared first on The Motley Fool Australia.

For those unfamiliar with the company, AMA Group operates in the wholesale vehicle aftercare and accessories market in Australia and New Zealand. Its operations include smash repair shops, automotive and electrical components, vehicle protection equipment, and servicing workshops for brakes and transmissions.

AMA's Vehicle Collision Repairs segment is a major revenue driver for the company. It serves major insurance companies through more than 130 vehicle repair sites in all Australian states and the ACT.

Shaking off the rust 

It has been a tough year for the ASX industrials stock.

The ASX small-cap stock has fallen 42% year to date. 

However a new report from the team at Bell Potter indicates that the back half of 2026 could see the company rebound. 

The broker has retained a buy recommendation on the stock along with a target price indicating more than 117% upside. 

Reaffirmed guidance

AMA reaffirmed its FY26 EBITDA guidance of $70-75 million in April, even though experts were concerned that high fuel prices could reduce driving and lead to fewer accident repairs.

Since then, traffic volumes across Australia have remained fairly normal despite high fuel costs. 

Combined with normal rainfall levels, this suggests repair volumes have likely been close to expectations.

The company has not released any negative trading updates, which is generally a positive sign that performance remains on track. AMA also started its share buyback this week, which suggests management is comfortable with current trading conditions.

A positive outlook

Bell Potter believes that AMA is positioned for a strong fourth quarter, with trading expected to remain stable and repair volumes tracking close to expectations.

The fourth quarter is also typically the company's best quarter for cash generation. 

Bell Potter expects operating cash flow of about $37.5 million, which would help keep net debt below $20 million and leave the balance sheet in a healthy position.

While there is some risk to management's EBITDA guidance, there are currently no signs that the business has materially deteriorated.

The broker noted:

Indeed, the lack of any trading update suggests the guidance is still on track and the commencement of the buy-back this week also suggests there is no need at this stage for the company to "cleanse" the market. 

Our normalised FY26 EBITDA forecast of $68.4m is admittedly below the guidance range of $70-75m so we still see some downside risk to the guidance but we are also not changing our forecast and see it as reasonable if not slightly conservative.

Big upside in tact for this ASX small-cap 

Based on this guidance, the team at Bell Potter has retained their buy recommendation on this ASX small-cap. 

The broker currently has a $1.00 price tag on AMA shares. 

From yesterday's closing price of 46 cents per share, this indicates an upside potential of 117%. 

The post This ASX small-cap is expected to double in the next 12 months appeared first on The Motley Fool Australia.

But the silver lining of a down year is that there are plenty of ASX shares offering significant upside. 

When markets are flat or underperforming, it means there are value opportunities for investors. 

Here are three such ASX shares tipped to rise significantly over the next 12 months. 

Light & Wonder Inc (ASX: LNW)

Light & Wonder, Inc. engages in the development of technology-based products, services, and associated content. It operates through the following segments: Gaming, SciPlay, and iGaming.

Its share price has fallen by over 25% year to date; however, it has been generating plenty of buzz amongst experts. 

It appears now could be the chance to scoop up this blue-chip consumer discretionary stock at a considerable discount. 

It closed trading yesterday at $116.35 per share. 

However, Macquarie recently placed a $200 price target on these ASX shares. 

Bell Potter placed its most recent 12-month target at $192 per share. 

If it were to reach this range in the next 12 months, it would represent a 65%-72% gain. 

Judo Capital (ASX: JDO)

Bank shares have been one of the sectors that have largely underperformed in 2026. 

Investors usually associate the sector with steady revenue and reliable dividends. 

However, the big four banks have all struggled in 2026. 

It appears that for banking stocks, opportunity lies outside the big four. 

Enter Judo Bank. 

The Australian bank focused on lending to small and medium enterprises (SMEs) has seen its share price fall 20% year to date. 

However, experts are tipping this bank stock as the one to buy in 2026. 

The team at Morgans recently retained a buy recommendation on this small business lender's shares with an improved price target of $2.15.

From current levels, this indicates an upside of 50%. 

Idp Education (ASX: IEL)

IDP Education Ltd is a global education service offering English language testing and international student placement services. The company is a co-owner of IELTS, or International English Language Testing System, which administers English language testing around the world.

Its share price rose 5% yesterday, but it remains down by more than 60% year to date. 

Brokers now believe these ASX shares have been oversold. 

A note out of Morgans said it sees scope for earnings to stabilise and return to growth from FY27. 

The broker has placed a price target of $3.15 on these ASX shares. 

This target is 50% higher than current levels. 

The post 3 oversold ASX shares to target right now for 70% gains appeared first on The Motley Fool Australia.

The company has now seen its share price rise almost 200% year to date. 

Company overview

Vitrafy is a biotechnology company focused on improving cryopreservation, which is the process of freezing and storing biological materials such as cells, tissues, reproductive material, and potentially other medical or veterinary products.

The company has developed its own Vitrafy Cryopreservation Technology (VCT), which combines:

• Smart freezing and thawing devices
• Quality management software
• Specialised packaging solutions

The goal of VCT is to better control temperature changes during freezing and thawing. This helps more cells survive and remain functional after they are thawed.

According to Vitrafy's testing and independent validation studies, its technology has produced higher cell survival rates and better cell quality than many existing industry methods and standards.

Why is it hitting new highs?

There was no price-sensitive news out of this healthcare stock on Tuesday. 

However, last week, the company announced a partnership with Vitalant Innovation Center ("Vitalant") to configure Vitrafy's next-generation cryopreservation ecosystem to solve the looming crisis for red blood cell preservation. 

The partnership aims to address a pivotal industry transition: as existing frozen red blood cell ("RBC") technologies reach the end of their operational life, with no replacement presently available.

Speaking on the partnership, Managing Director and CEO, Brent Owens, commented:

We are really excited to partner with Vitalant to actively address an issue of national significance with one of the leading blood market participants in the USA. 

The recognition of Vitrafy's cryopreservation ecosystem as the next generation solution to this crisis reinforces our belief that we are securing meaningful market traction and creating a pathway to significant commercial scale. 

We see this partnership as the first of several potential civilian blood opportunities that have stemmed from the successful results in the U.S Army platelets study.

This new partnership, along with recent contract wins, has likely propelled the healthcare stock to new all-time highs. 

Can this healthcare stock keep rising?

This ASX healthcare stock is now at a new 52-week high following Tuesday's gain. 

Holders of the stock may now be considering profit-taking, while prospective investors will be considering the future potential of this growth stock.

Earlier this year, Bell Potter placed a price target of $3.00 on this healthcare stock. 

Meanwhile, Morgans is optimistic about the company following recent contract wins. 

Despite the positive views, it is now trading above broker targets. 

However, it's worth noting that growth stocks can remain attractive investments even when trading above broker price targets. 

Rapid earnings and revenue growth can cause a company's intrinsic value and share price to increase faster than analysts can update their forecasts and rerate the stock.

The post Is this exciting healthcare stock a buy, hold or sell after rocketing 16% yesterday? appeared first on The Motley Fool Australia.

Champion Iron is an iron ore miner, explorer, and developer operating in Quebec, Canada. The company currently owns and operates the Bloom Lake open-pit mine which exports high-grade, low-contaminant iron ore globally.

As Aaron Teboneras reported yesterday, investors were exiting their positions after Champion Iron released its fourth-quarter results.

What did the company report?

For the three months ending March 31, the company reported: 

• Champion Iron produced 3.4 million wet metric tonnes (wmt) of high-purity 66.2% iron ore concentrate during the quarter. This was up 8% from the same period last year.
• Revenue fell to US$414.5 million for the quarter, down from US$425.3 million a year earlier.
• Net income fell, dropping to US$23.2 million from US$39.1 million.

These results left investors seemingly disappointed, with the ASX materials stock falling over 4% on Thursday following the release. 

Its share price is now down 22% year to date. 

Bell Potter weighs in 

Following these results, the team at Bell Potter provided updated guidance on this ASX materials stock. 

Largely, the company delivered FY26 earnings below Bell Potter's expectations, mainly due to weaker realised iron ore prices and higher operating costs. 

EBITDA was C$499 million compared with the broker's forecast of C$541 million, while net profit came in at C$169 million versus expectations of C$207 million.

According to Bell Potter, the increase in unit costs was driven by lower sales volumes, logistics disruptions, severe winter weather and inventory de-stocking. The company also provided little additional operational commentary beyond its April production update.

CIA elected to pay a much lower final dividend to preserve cash liquidity given volatile macroeconomic conditions, breaking a track record of consistent C$0.10/sh semi-annual payments.

Hold recommendation maintained for ASX materials stock 

Based on this guidance, Bell Potter retained its hold recommendation. 

The broker also lowered its 12 month price target to $4.85 (previously $5.00). 

Based on this share price target, the broker sees little upside for this ASX materials stock. 

Champion Iron shares closed trading yesterday at $4.78. 

CIA expect to ramp-up high-grade concentrate (DRPF grade) production from mid 2026. While we expect iron content price premiums for this product, full value-in-use premiums are unlikely to be realised until longer-term offtake is secured. Free cash flow should improve from FY27 as capex rolls off, supporting debt servicing and ongoing dividends. On valuation, we retain our Hold recommendation.

The post Is this ASX materials stock a buy, hold or sell after sliding on earnings results? appeared first on The Motley Fool Australia.

Investors were pouring into the safe-haven sector over the last 18 months. However it now appears many see opportunities elsewhere. 

Despite this shifting sentiment, the team at Bell Potter has just identified a new ASX gold stock and initiated coverage with significant optimism. 

The company in focus is Aurum Resources Ltd (ASX: AUE). 

Company overview 

Aurum Resources is a Perth-based gold exploration and development company. It is focused on its two projects in Côte d'Ivoire, West Africa:

• The flagship Boundiali Gold Project (BGP) and;
• The more recently acquired Napié Gold Project (NGP). 

According to Bell Potter, Aurum Resources is well funded, with a cash balance of $61.5m at end March 2026. 

It is undertaking an aggressive exploration and Resource growth strategy with the objective of building a substantial multi-asset gold business in Côte d'Ivoire. 

Current funding is sufficient to achieve key upcoming milestones of a Pre-Feasibility Study (imminent), Resource updates (2HCY26) and completion of a Definitive Feasibility Study (4QCY26).

Like many ASX small-cap stocks, it has experienced plenty of volatility this year. 

At the time of writing, it is down 23% year to date. 

However Bell Potter believes it can double in the next 12 months. 

Strong ownership and value mindset 

Bell Potter believes the ASX gold stock's management and board are strongly aligned with shareholders.

According to the broker, the company is committed to cost effective strategies. 

A clear example is AUE's owned and operated fleet of 16 diamond drill rigs which operate at a fraction of the cost of third-party rigs and under the direct control of AUE, bringing multiple benefits.

Bell Potter estimates that more than 90% of Aurum Resources' spending in FY26 year-to-date has gone directly into exploration and evaluation activities, rather than overheads.

Aurum Resources has grown its mineral resources from 3.28 million ounces of gold in July 2025 to 4.38 million ounces by May 2026 at an estimated discovery cost of only A$15–17 per ounce. This is considered very cost-effective for the gold industry.

Significant upside for this ASX gold stock

Bell Potter has initiated coverage on this ASX gold stock with a speculative buy recommendation. 

The broker has also placed a price target of $1.30 on the company, which indicates an upside potential of 136% from current levels. 

AUE is one of the most successful gold exploration companies active in West Africa. Its management team has a demonstrated track record of discovery, Resource growth, project construction, development, operation and divestment. AUE is well funded, shows exploration upside and ongoing successful, value accretive drilling.

The post This ASX small-cap gold stock could surge 136% according to Bell Potter appeared first on The Motley Fool Australia.

The S&P/ASX 200 Real Estate Index (ASX: XRE) is down roughly 10% year to date.

This sector in particular has been impacted by higher interest rates, tighter credit conditions, and reduced property valuations. 

These headwinds have all contributed to significant share price declines for many real estate stocks. 

However, it has also created buy-low opportunities for quality companies in the sector. 

One such opportunity is GemLife Communities Group (ASX: GLF). 

Company overview 

GemLife (GLF) is a developer, builder, operator and owner of over 55s lifestyle (land lease) communities (LLC). 

GLF generates recurring rental income from c.2,000 occupied homes and development profits from a further c.8,000 development sites representing 10+ years of pipeline.

Its share price has fallen almost 10% in 2026. 

However the team at Bell Potter is tipping a rebound following the company's promising AGM operating update.

Tracking to expectations

GemLife Communities said at its AGM that trading is continuing broadly in line with expectations. 

The company reaffirmed its CY26 guidance, expecting earnings per share of 28.5c to 30.0c and around 420 property settlements. This is largely consistent with Bell Potter and market forecasts.

Management said average selling prices are tracking in line with, or slightly above, the second half of CY25 levels, while home build margins are expected to remain around 50%, similar to last year. The company also noted that settlements are continuing to track positively against its full-year target.

Bell Potter made small adjustments to its earnings forecasts for CY26-28 to account for higher expected development and operating costs, as well as updated interest rate assumptions. 

Overall, Bell Potter revised CY26-28 EPS forecasts by between -8% and +1%, reflecting lower margin assumptions due to higher development costs in CY27/28. 

Strong upside remains according to Bell Potter

Based on this guidance, the team at Bell Potter moderately reduced its share price target to $5.65 (previously $6.15). 

From yesterday's closing price of $4.59, this indicates an upside potential of 23%. 

There is still some water to go under the bridge this year, but GLF's initial guidance range remains achievable in our view with our focus on the ground work for CY27 given likely lower housing turnover due to budget driven residential housing uncertainty and potential for cost inflation contributed by Brisbane Olympics in 2030.

We continue to monitor sales progress vis-à-vis cashflow and the balance sheet (29.5% as at CY25), but today's update is encouraging and consistent with our expectations.

The post Why this ASX real estate stock is a compelling buy according to Bell Potter appeared first on The Motley Fool Australia.

Investors were gobbling up Nufarm shares after releasing its FY 2026 half-year results.

What did Nufarm report?

For the half year ended 31 March 2026, it reported: 

• Statutory Net Profit After Tax $38 million, up 28% on the prior corresponding period (pcp)
• Underlying NPAT (uNPAT) $52 million, up 35% on pcp
• Underlying EBITDA (uEBITDA) $243 million, up 18% on pcp
• $193 million improvement on pcp in free cash flow
• Net debt $1.23 billion, a reduction of $135 million on pcp
• Net debt to uEBITDA for twelve months to 31 March 2026 of 3.6x, a 20% reduction on pcp
• FY26 Outlook for uEBITDA and Leverage reaffirmed.

Commenting on the announcement, Nufarm CEO Rico Christensen said 

We are pleased with first half performance and are well placed to deliver strong growth in underlying earnings and a significant reduction in leverage for the full year, consistent with previous guidance. 

We have made clear progress on the priorities we set in November last year, delivering earnings growth, improved cash flow and a reduction in leverage. The benefit of our increased strategic focus is visible in the margin improvement in Crop Protection and significant uplift in earnings from our Seed Technologies business.

Bell Potter weighs in 

Following this result, the team at Bell Potter issued updated guidance on Nufarm shares. 

Nufarm is one of the world's leading developers and manufacturers of seeds and crop protection solutions.

The broker noted that the company's Seeds business was a standout performer during the half. 

EBITDA more than doubled to $58 million, helped by significantly smaller losses in the omega-3 platform business.

Cash flow also improved compared with the prior year, and net debt declined to around $1.09 billion excluding leases. Debt levels finished the period in line with management guidance.

Looking ahead, management remains confident about FY26. 

The company expects strong earnings growth, supported by continued improvement in crop protection and further growth in the Seeds business. 

Nufarm is also progressing with its cost-saving program, targeting $50 million in annual savings by the end of FY26, with an additional $50 million reduction plan for FY27–28.

Upside in tact 

Based on this guidance, the team at Bell Potter retained their buy recommendation and $3.60 price target on Nufarm shares. 

From yesterday's closing price of $2.91, this indicates an upside potential of almost 24%. 

NUF is executing on its cost out initiatives ($32m of the $50m FY26e target achieved and a $50m target in FY27-28e) with a more favourable backdrop in crop protection markets and omega-3 (a doubling in fishoil pricing). Despite this NUF trades at a ~25% discount to global crop protection and seed peers.

The post Are Nufarm shares a buy, hold or sell after jumping 13% on half-year results? appeared first on The Motley Fool Australia.