PLS Group Ltd (ASX: PLS) shares have been very strong performers over the past 12 months.
During this time, the lithium miner formerly known as Pilbara Minerals, has seen its shares rise approximately 120%.
This has been driven by a rebound in lithium prices, which has given the whole industry a major lift.
But with many analysts saying that its shares are around fair value now, investors may get better returns by looking at a different ASX growth stock.
Which ASX growth stock?
The stock that is being tipped to rise very strongly from current levels is WiseTech Global Ltd (ASX: WTC).
This logistics solutions technology company’s shares were sold off in 2025 and could be destined to follow in the footsteps of PLS shares by rebounding strongly between now and 2027.
Bell Potter is one of a number of brokers that believes this could be the case. It has put a buy rating and $100.00 price target on its shares.
Based on its current share price of $61.89, this implies potential upside of over 60% for investors over the next 12 months.
Why is it bullish?
Bell Potter believes that the share price pullback has been an overreaction. Especially given how issues weighing on the ASX growth stock are now easing.
And while there are still risks to consider, the broker feels that the risk-reward is very favourable for investors now.
Commenting on the beaten down ASX stock, Bell Potter said:
WiseTech has also had a large pullback in its share price but this has been more driven by company specific issues like slowing growth in the core business, management and board upheaval and insider trading allegations against CEO and founder Richard White. These issues, however, are starting to subside and focus is returning to the outlook for the core business which is improving with the launch of new products, a new commercial model and the integration of a large acquisition (e2open).
These initiatives are all expected to help drive a much stronger 2HFY26 result relative to 1HFY26 and then the first full year of benefits will be evident in FY27. All of these changes/initiatives are not without risk and there is still some risk of a soft downgrade to revenue guidance in FY26 at the half year result but the 12-month outlook is positive in our view.
The post Forget PLS shares! This ASX growth stock is tipped to rise 60% by 2027 appeared first on The Motley Fool Australia.
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More reading
- Why Wisetech could be worth watching after a rough year
- Â Why are WiseTech shares still falling?
- 2 beaten-down ASX blue-chip tech shares I’d buy today
- So the PLS share price made it past $5. Big deal. What’s next?
- 2 ASX growth stocks set to skyrocket in the next 12 months
Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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