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Morgans says these ASX shares could rise 30% to 70%

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If you are looking to supercharge your portfolio with some big returns, then it could be worth checking out the two ASX shares in this article.

That’s because the team at Morgans has named them as buys with potential upside of 30% or more.

Here’s what the broker is recommending to clients:

Elementos Ltd (ASX: ELT)

This tin-focused mineral exploration company has caught the eye of Morgans.

It highlights that tin prices have lifted strongly since its definitive feasibility study (DFS) for the Oropesa project.

And with electrification and supply constraints expected to support tin prices over the medium term, the broker is feeling positive about Elementos’ outlook.

It has put a buy rating and 51 cents price target on its shares. This implies potential upside of 34% for investors from current levels. It said:

Recent strong tin price growth is expected to continue with electrification, supply constraints in the current geopolitical situation, and enhanced Environmental, Social and Governance (ESG) focus in tin producing jurisdictions. Since delivery of the definitive feasibility study for Oropesa, Spain, in May 2025, (US$156M capex, producing 3,400tpy of tin in concentrate, projected cost US$15,000/t) ELT has advanced the regulatory and administrative approvals.

Since the DFS, the tin price has lifted from ˜US$30,000/t to ˜US$50,000/t. We now model US$35,000/t (previously US$30,000/t) for tin to generate a Valuation of A$0.57ps (previously A$0.50) and a Target Price discounted by 10% to A$0.51ps.

Regal Partners Ltd (ASX: RPL)

Another ASX share that Morgans is recommending to clients is fund manager Regal Partners.

Although it had a soft quarter and has trimmed its earnings estimates, the broker remains positive.

It has put a buy rating and $4.20 price target on Regal Partners’ shares. Based on its current share price of $2.45, this suggests that upside of 70% is possible between now and this time next year. It commented:

RPL has released its March 2026 quarterly FUM update. This was a soft quarter (FUM -3%) for RPL as hedge fund investment performance suffered on the back of volatile market conditions. FUM bounced back in Apr-26. We update our RPL numbers for the quarterly following a broad review of our FUM expectations for the CY26.

Our CY26/27/28F EPS estimates are revised down -2%, reflecting more conservative FUM assumptions for the current year. Our valuation declines on the back of lower peer multiples and higher cost of capital assumptions. Target price $4.20/sh. We maintain our RPL BUY rating with >20% upside to our price target.

The post Morgans says these ASX shares could rise 30% to 70% appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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