ASX shares have trended higher on Tuesday afternoon as falling oil prices help ease some inflation concerns.

Here are four ASX shares that brokers are forecasting could help drive the index higher over the next 12 months.

And one of them is tipped to soar up to 125%.

Silex Systems Ltd (ASX: SLX)

Silex Systems develops and commercialises laser technology to sort and separate different types of isotopes to prepare uranium for nuclear power plants.

At the time of writing on Tuesday afternoon, the ASX uranium company’s shares are up around 4% to $4.61 a piece. The increase is great news for investors after the beaten-down stock tumbled 16% over the past month, and is down 48% for the year-to-date.

The latest increase follows a recent announcement that Global Laser Enrichment (GLE), which is 51%-owned by Silex, has signed an exclusive Offtake Agreement with major partner Cameco Corporation. Under the agreement Cameco will buy all of the future production of GLE’s planned Paducah Laser Enrichment Facility (PLEF), in Kentucky.

A recent uptick in uranium prices has also likely supported Silex shares. Trading Economics data shows that the metal is trading around US$90 per pound, close to a six-month high.

Market Index data shows brokers are very bullish on the outlook for the stock. All brokers have a strong buy rating and the $10.33 average target price implies an upside of around 125% at the time of writing.

Zip Co Ltd (ASX: ZIP)

Zip shares are also climbing around 1% higher on Tuesday, to $2.26 at the time of writing. It’s been a volatile ride for the buy now, pay later provider after the shares reached a mutli-year high in October last year, then tumbled to an annual low in March. The ASX shares started rebounding again but the sell off accelerated again after it posted its FY26 results last month. They’re now down around 52% compared to a year ago.

Zip posted a record result, including a huge 57.9% increase in its cash EBTDA, a 24.7% increase in total revenue, and a 45.7% hike in its NPAT for FY26. For FY27 Zip is targeting a cash EBTDA of $340 million, up another 26%.

While the results were positive on the surface, many were underwhelmed by the company’s growth outlook. 

But the news hasn’t deterred brokers who still hold a unanimous strong buy rating, according to Market Index data. The $3.95 average target price also implies an upside of around 74% at the time of writing.

Deep Yellow Ltd (ASX: DYL)

Deep Yellow is an ASX uranium development company with a portfolio of Australian and global projects. Like Selix, its shares are also climbing much higher on Tuesday afternoon off the back of a stronger uranium price and renewed investor confidence in uranium stocks.

At the time of writing, Deep Yellow shares are up around 4% and are changing hands at $1.39. The current share price represents a 29% decline for the year-to-date and a 31% drop from 12 months ago.

Late last month, the company announced the completion of two major milestones at its flagship Tumas Project in Namibia. These included a long-term water supply agreement and finalisation of local ownership arrangements. The company is now focused on successfully progressing its Tumas Project towards a Final Investment Decision in Q4 2026.

Brokers are also bullish that the ASX shares can climb even higher over the next 12 months. Market Index data shows the majority have a strong buy rating, and the $2.28 average target price implies an upside of around 64% at the time of writing.

Nine Entertainment Co Holdings Ltd (ASX: NEC)

Media giant Nine Entertainment posted its FY26 results late last month, including a 3% increase in revenue, a 17% increase in EBITDA, and a 7% increase in NPAT.

The result comes after the company underwent a strategic reshape of its business during the first half of FY26. Nine Entertainment sold its stake in Nine Radio and property platform Domain, restructured its NBN and Darwin TV operations, and acquired QMS Media. The strategy shifts the company’s focus toward growth areas like streaming, outdoor and digital publishing.

But it looks like investors weren’t happy with the result. On the day of the announcement, the Nine Entertainment share price spiked around 7%. But then it was soon followed by a selloff. 

The shares have now fallen around 29% to just 75 cents at the time of writing. The latest crash means the ASX shares are now 36% lower than 12 months ago.

But it looks like brokers are still bullish that the company can recover this year. Market Index data shows the majority have a strong buy stance on the ASX shares. The $1.21 average target price implies a potential 63% upside ahead.

The post 4 ASX shares tipped by brokers to return 63% to 125% appeared first on The Motley Fool Australia.

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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 recommended Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Transurban Group Ltd (ASX: TCL) shares have fallen around 0.5% in Tuesday lunchtime trade to a 52-week low of just $13.21.

At one point this morning, the shares were trading as low as $13.18.

Today’s decline means the shares have also now shed around 13% of their value since reaching a 16-year high of $15.61 in mid-June.

What caused Transurban shares to fall to an annual low?

The toll road operator’s share price decline accelerated after the company posted its FY26 results and distribution guidance in mid-August. 

Transurban reported a 7.5% increase in its proportional operating EBITDA and a 6.7% increase in its proportional toll revenue growth. The company’s EBITDA margin also increased to 75.7%, up from 74.9% in FY25.

Management declared a FY26 dividend of 69 cents per share, up 6.2% from FY25.

Management also gave guidance for a higher distribution of 72 cents per share in FY27, but warned that free cash coverage is expected to fall slightly below their targeted 95% to 105% range.

But investors seem concerned about Transurban’s rising debt-servicing costs, prompting questions about whether it is trading at a stretched valuation.

News in late-August that Transurban has been selected to deliver Tennessee’s I-24 Choice Lanes project, in partnership with Ferrovial and Tikehau Star Infra, hasn’t helped boost confidence either.

The 26-mile project has an estimated construction value of US$9.2 billion and a total concession value of around US$24.8 billion.

Again, Transurban’s August traffic growth report didn’t bring more investors back into the stock. The company reported groupwide average daily traffic (ADT) growth of 3.4% in August year-on-year. It noted particularly strong results in North America and continued momentum in Sydney and Melbourne.

Can the share price rebound?

It looks like brokers are also reserved about the company’s outlook.

TradingView data shows that the majority (11 out of 14) have a hold rating on Transurban shares. But after the latest share price decline, there could still be some upside ahead. The $13.87 average target price implies around a 5% upside ahead, at the time of writing.

Morgans confirmed its trim rating on Transurban shares after the company posted its FY26 results last month. The broker now has a $12.53 target price on the shares, implying some more downside ahead.

It noted that the company’s free cash flow guidance suggests Transurban is a slower-growth stock than its trading yield implies.

“If TCL were repriced to APA Group’s yield the share price would trade down towards our $12.53 target price,” Morgans said.

The post Can Transurban shares rebound from a 52-week low? appeared first on The Motley Fool Australia.

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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 positions in and has recommended Transurban Group. The Motley Fool Australia has positions in and has recommended Transurban Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) has climbed slightly higher on Tuesday off the back of easing oil prices and an increase in interest in tech or AI shares. 

Let’s find out how major stocks South32 Ltd (ASX: S32), Cochlear Ltd (ASX: COH), and Westpac Banking Corp (ASX: WBC) are tracking this week, and what brokers are forecasting to happen next.

Brokers rate South32 shares a buy

South32 shares are trading at $4.88 each at the time of writing. The current trading price represents an 8% decline from the company’s multi-year high of $5.30 in early September. In fact, South32 shares have rallied strongly over the past year and are now around 86% higher than they were 12 months ago.

In August, the miner posted a couple of good-news announcements that had investors jumping for joy.

It announced a substantial jump in its ore reserve estimate at its Sierra Gorda mine, which extends the mine’s reserve life by another five years, to 2045. The Sierra Gorda copper mine, in which South32 holds a 45% stake, is a large, open-pit operation in northern Chile. 

The announcement was followed soon after by South32’s impressive FY26 earnings result. The miner posted a 1% increase in revenue from continuing operations, a 28% increase in EBITDA, and a 55% increase in underlying earnings.

The company also declared a final fully-franked dividend of 5.4 US cents per share for FY26, which is almost double the miner’s final dividend for FY25.

And it looks like brokers are bullish that the shares can now rebound close to the multi-year highs we saw a couple of weeks ago.

According to Market Index data, the majority of brokers have a buy rating on South32 shares. And the $5.13 average target price implies an upside of around 5% at the time of writing.

Brokers rate Westpac shares a sell

Westpac shares have come under pressure over the past six weeks amid renewed inflation concerns, interest rate fears, and a weakening Australian property market.

Westpac shares are trading at $34.94 at the time of writing, representing a 10% year-to-date decline and roughly 9% lower than 12 months ago.

The ASX bank stock posted its third-quarter FY26 update in early August. And while the result was good on the surface, including a 1% increase in operating income and a steady net interest margin of 1.89%, Westpac also raised some red flags around weaker mortgage demand.

Westpac’s mortgage application volumes declined through the period as competition intensified and borrowers continued to navigate interest-rate uncertainty. The bank said that mortgage growth is likely to continue to be challenging.

Market Index data shows that brokers have now lost confidence in the ASX bank stock. The majority of experts have a sell rating in Westpac shares and the $34.18 average target price implies a downside of around 2% over the next 12 months, at the time of writing.

Brokers rate Cochlear shares a hold

Cochlear shares have staged an impressive rebound since hitting a 10-year low of just $90 each in late-April. At the time of writing, the shares have now recovered around 57% and are changing hands at $140.82 a piece. For the year-to-date the shares are still down around 46%, and they’re 52% lower than 12 months ago.

It’s clear that investor sentiment has been consistently recovering, boosted by renewed investor interest in ASX healthcare shares overall.

The company has also posted a couple of good-news announcements which have helped boost investors confidence further. 

In July, Cochlear announced that its hearing implant systems will continue to be imported into the US duty-free after the US Government released its findings from a series of Section 301 investigations. 

The following month, management posted an impressive FY26 result, including underlying net profit of $322 million, down 22% but right at the top end of guidance.  

And looking ahead to FY27, Cochlear expects low-single-digit constant currency revenue growth and an underlying net profit between $330 million and $350 million. 

According to Market Index data  the majority of brokers have a hold rating on Cochlear shares. But after the latest share price rally, the $126.07 average target price implies a downside of around 10% at the time of writing.

The post South32, Cochlear, Westpac shares: Buy, hold or sell? appeared first on The Motley Fool Australia.

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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 positions in and has recommended Cochlear. The Motley Fool Australia has recommended Cochlear. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.