Looking for big returns? If you are then check out the ASX shares listed below.
They have been tipped to rise 20% to 30% over the next 12 months from current levels. Here's what you need to know:
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Fortescue Ltd (ASX: FMG)
This mining giant could be an ASX share to buy according to analysts at Morgans. Its analysts believe the iron ore miner's shares are now very attractively priced following a selloff last week after one of its institutional investors sold $1.9 billion worth of shares at a sizeable discount.
And while the broker concedes that there are substantial risks and fundamental challenges still facing the company, it appears to believe these are now priced in. Morgans has an add rating and $23.00 price target on its shares. This implies potential upside of 23% for investors.
GQG Partners Inc (ASX: GQG)
Analysts at Morgan Stanley think GQG Partners could be an ASX share to buy now. In fact, its analysts have named the fund manager as a top pick in the asset management space.
Last week, the broker retained its overweight rating on its shares with an improved price target of $3.75. This suggests that upside of 32% is possible over the next 12 months.
Pointsbet Holdings Ltd (ASX: PBH)
Over at Bell Potter, its analysts are tipping Pointsbet shares as a buy. It is a sports betting company with operations in Australia and Canada.
Based on its sum of the parts valuation for the company's operations, the broker feels that the market is undervaluing its shares. In addition, its analysts suspect that Pointsbet could become a takeover target for a larger player.
Bell Potter currently has a buy rating and 63 cents price target on its shares. This implies potential upside of 20% for investors from current levels.
Siteminder Ltd (ASX: SDR)
Analysts at Morgan Stanley are feeling bullish about hotel technology company Siteminder.
The broker was pleased with its fourth quarter update last week and highlights that it achieved positive free cash flow during the second half. Looking ahead, the broker is feeling positive about its long term growth potential and sees a large sales opportunity for it to grow into.
Morgan Stanley currently has a buy rating and $6.80 price target on the company's shares. This suggests that upside of 23% is possible over the next 12 months from where its shares trade today.
