3 ASX shares tipped by brokers to return 41% to 85% in the next 12 months

ASX shares have slumped even further into the red in Thursday morning trade, following two consecutive days of declines.

There was a poor night on Wall Street, oil prices have climbed higher, and several ASX companies are holding their annual general meetings today.

Paladin Energy Ltd (ASX: PDN), Qantas Airways Ltd (ASX: QAN), and Web Travel Group Ltd (ASX: WEB) are on my radar this week. They’re all suffering a share price loss on Thursday morning but brokers are confident that they can bounce back over the next 12 months.

Here’s the latest out of the ASX shares, and what the experts tip next.

Broker outlook for Paladin Energy shares

Paladin Energy shares have fallen another 3% to a new annual low of $7.07 at the time of writing. The shares have now crashed 26% over the past month and they’re down 30% for the year-to-date.

The ASX uranium shares have faced strong headwinds this year from geopolitical uncertainty and a drop in confidence for uranium companies. Renewed conflict in the Middle East, higher inflation data, and concerns about more interest rate rises have also seen many investors reduce their exposure to higher-risk shares like Paladin Energy.

This week, the miner announced that its first-quarter FY27 output had dipped to 1.00 million points, but it maintained full-year FY27 guidance for its Langer Heinrich Mine. 

Paladin Energy is targeting annual uranium production of 5.1 to 5.6 million pounds at a cost of US$44–48 per pound. The company expects production to ramp up in the second half of the year as higher-grade ores are mined. 

Management also said it is continuing to target cost reductions and productivity gains as previously outlined.

Market Index data shows the majority of brokers have a strong buy rating on the ASX shares. And the $13.10 average target price implies an upside of around 85%, at the time of writing.

Broker outlook for Qantas shares

Qantas shares have fallen around 1% to $8.07 at the time of writing on Thursday. The shares have now crashed around 24% since early-August, and they’re down 23% for the year-to-date.

Ahead of the company’s FY26 results announcement in late August, there was market anxiety about the ASX airline company’s upcoming results after several consecutive months of oil supply constraints and higher fuel prices.

And they were right. In late August, Qantas reported a 14% year-on-year decline in its underlying profit before tax, a 29% drop in statutory profit, and a 12.7% decline in underlying earnings.

Oil prices have climbed even higher this week, closing in on the latest US$105 per barrel high in early September, and the rebound is denting Qantas shares.

But it looks like the experts think the business is sound enough to withstand volatile prices, and they expect a turnaround in Qantas shares over the next 12 months.

Market Index data shows the majority of brokers have a strong buy rating on the ASX shares. The $11.38 average target price implies an upside of around 41%, at the time of writing.

Broker outlook for WEB Travel Group shares

WEB Travel Group shares are down around 3% in Thursday morning trade, to $3.32. The shares crashed earlier in the year after investors were spooked by an audit of its Spanish subsidiary, but rebounded in July on renewed investor confidence.

Now, it looks like the share price could be starting to slide lower again. The ASX shares are now down 31% for the year-to-date.

But despite external headwinds, the company has demonstrated strong earnings resilience this year, and it continues to deliver strong EBITDA markets and improving total transaction value (TTV). 

The company is guiding H1 underlying EBITDA in the range of AU$80 million and AU$86 million.

It also expects its WebBeds business to deliver an 11% to 15% year-on-year increase in H1 revenue (in euros).

Market Index data shows the majority of brokers have a strong buy rating on the ASX shares. The $4.93 average target price implies an upside of around 48%, at the time of writing.

The post 3 ASX shares tipped by brokers to return 41% to 85% in the next 12 months appeared first on The Motley Fool Australia.

More reading

• Could Paladin Energy shares return 90% in 12 months?
• Own ASX mining shares? Official forecasts show commodity prices peaking in FY27
• Paladin Energy: Q1 FY2027 uranium output and outlook
• These are the 10 most shorted ASX shares
• Wesfarmers vs Qantas: Which ASX share suits a 60-year-old investor?

Motley Fool contributor Samantha Menzies 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.