Are you on the lookout for ASX shares with the potential to rise strongly over the next 12 months and generate big returns for your portfolio? If you are, then read on. That's because the two ASX shares in this article have been named as buys by analysts and tipped to rise very strongly from current levels. Let's see what they are saying about these shares and just how big the returns could be if you buy at current levels.
( ) Morgans thinks that this ASX share could be undervalued by the market. The broker currently has an add rating and $2.80 price target on its shares.
This suggests that its shares could rise by a massive 66% over the next 12 months. Its analysts think investors should be investing due to Karoon Energy's growth plans and the potential for rising oil prices. It said: Unique as a reasonable scale pure conventional oil producer, benefitting directly from rising oil prices.
Karoon has significant net cash and is fully funded through a doubling of production over the next 12 months. There are also potential catalysts just around the corner with Karoon flagging at its recent result that it plans to shortly update the market with more detail on its growth plans, Bauna's outlook, and its ESG approach. ( ) The team at Bell Potter sees significant value in this ASX youth fashion retailer's shares.
The broker currently a buy rating and $6.15 price target on them. This implies potential upside of almost 23% for investors over the next 12 months.
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