These ASX shares could rise 15% to 35%

Who doesn’t love big returns? And while nothing is guaranteed in the share market, analysts believe the three ASX shares listed below could deliver the goods for investors.

Over the next 12 months, they are tipping them to rise 15% and 35%. Here’s what you need to know about them:

Objective Corporation Ltd (ASX: OCL)

Analysts at Morgans think Objective Corporation could be a great option for investors. It is a best-in-class specialist software company which services the public sector and highly regulated industries.

The broker has an add rating and $14.00 price target on the ASX share. This suggests that upside of 18% is possible from current levels.

Morgans highlights that the company is well-placed to grow strongly thanks to favourable industry trends. It said:

Global Public Sector software spend is anticipated to grow at a low double-digit rates over the near term as governments look to streamline workflow, improve security, and modernise legacy IT infrastructure. We see Objective as being a beneficiary of this trend.

Premier Investments Limited (ASX: PMV)

Bell Potter thinks this retail giant could be an ASX share to buy. The broker currently has a buy rating and $35.00 price target on its shares, which implies potential upside of approximately 17% for investors over the next 12 months.

The broker believes its shares are undervalued at current levels. Particularly given the potential value that will be unlocked from its demerger plans. It said:

PMV is currently trading on ~15x FY26e P/E (BPe) which we think is conservative given the value that we see emerging from the potential demerger of PMV’s two key brands, Smiggle and Peter Alexander which we believe are global roll-out worthy and highly profitable. We see further upside from the higher ownership PMV shareholders could receive in the Myer Group (MYR) given the potential to grow post MYR’s turnaround phase and synergies from merging with PMV’s apparel brands.

Xero Ltd (ASX: XRO)

Over at Goldman Sachs, its analysts think that this cloud accounting platform provider’s shares could rise strongly from current levels.

Earlier today, the broker reiterated its conviction buy rating and lifted its price target to $180.00. This suggests that upside of 35% is possible over the next 12 months.

It has become even more bullish after looking deeper into its UK opportunity. Goldman also highlights Xero’s huge global total addressable market (TAM) to grow into. It said:

Following our June UK trip, attending Xerocon and meeting with accountants/competitors/experts, we are encouraged with the positive feedback (vs. our 2022 trip), in particular around its refreshed strategy and increased focus. […] We see Xero as very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$100bn TAM.

The post These ASX shares could rise 15% to 35% appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Objective and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Objective and Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.