There are a handful of ASX shares that analysts think could deliver substantial returns, with multiple buy ratings.

Analysts always seek opportunities that may be undervalued. Experts can quantify how undervalued an investment might be with a price target.

A price target tells investors where they think the share price will be in 12 months from the time of the investment rating. If a price target implies capital gains of more than 10% in the next year, it could be more likely to beat the S&P/ASX 200 Index (ASX: XJO).

There are a few names that are projected to grow by 60% or more, including the following two.

IDP Education Ltd (ASX: IEL)

IDP describes itself as a global leader in international student placement and a co-owner of the world’s most popular high-stakes English language test, IELTS. It helps people get accepted into their ideal course, take an English language test or learn English in its schools.

It’s partnered with more than 1,000 universities and institutions across Australia, Canada, Ireland, New Zealand, the UK and the USA.

The ASX share has struggled in recent times amid the uncertainty surrounding the international student sector, but now it’s seen as undervalued after falling 95% since November 2021 and down 70% since January 2026.

IDP Education reported that it was resilient during FY26, with revenue only falling by 9% to $795.4 million as low volumes were partly offset by a strong yield performance. It said that its yield improved 11% in student placement and 7% in language testing.

Student placement volumes declined by 27%, language testing volumes dropped by 8%, and language volumes increased by 1%. IDP said it was disciplined with its cost control, with direct costs down 8%. It delivered a $32 million net reduction in its overhead cost base, ahead of its $25 million target.

It also said that its adjusted operating profit (EBIT) of $122.9 million only declined by 7%.

The ASX share is planning for its market volume to drop by 20%-30% in FY27, but it expects revenue outperformance amid a focus on profitable growth and average yield improvements. The student placement and English language testing yields are expected to grow at mid-single-digit percentages.

Cost-cutting is expected to deliver a $15 million reduction in overhead costs.

According to CMC Invest, there have been nine ratings on the business within the last three months. The average price target is $3.08, implying a possible rise of 68% over the next year from where it is at the time of writing.

Zip Co Ltd (ASX: ZIP)

Another ASX share that could be one to watch is Zip, a leading buy now, pay later business.

The company recently reported its results for the 12 months to 30 June 2026, which showed impressive growth. Total transaction value (TTV) grew 27.2% to $16.7 billion, with US TTV higher by 42.5% in US dollar terms.

Total income increased 24.6% to $1.35 billion, cash operating profit (EBTDA) rose 57.9% to $268.9 million and statutory net profit after tax (NPAT) grew 45.7% to $116.4 million. It also announced a $50 million Zip share buyback.

In FY27, the ASX share expects to see US TTV growth of more than 30% in US dollar terms, and cash EBTDA could rise by 26% to $340 million.

According to CMC Invest, there have been six ratings on the business within the last three months. The average price target is $4.28, suggesting a possible rise of 69% over the next year from where it is at the time of writing.

The post 2 ASX shares tipped to grow 60% or more in the next 12 months appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison 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.

Coles Group Ltd (ASX: COL) shares were in fine form on Tuesday.

Following the release of the supermarket giant’s FY 2026 results, its shares were bid almost 5% higher, closing the session at $23.75.

This leaves Coles shares trading close to their record high of $24.59.

Can they keep climbing? Let’s see what Bell Potter is saying about the company and its shares.

What is the broker saying?

Bell Potter highlights that Coles delivered a profit slightly ahead of expectations in FY 2026. It said:

Revenue of $45,580m was up +2.8% YoY (vs. BPe $45,698m and VA $45,602m). EBITDA of $4,220m was up +7.1% YoY (vs. BPe of $4,220m and VA $4,244m). Underlying NPAT of $1,255m was up +13.7% YoY (vs. BPe of $1,195m and VA $1,241m).

The broker also highlights that Coles plans to make a significant investment in its store network, which will include the opening of 45+ new stores and the refurbishment of many more. It said:

COL has unveiled a material investment in its business, in: (1) Network investment of $300m over FY27-28e, covering new stores (+45 new Supermarkets) and refurbishments (1500 renewals); (2) $880m investment in VIC ADC ($190m spent to date and $300m in FY27e) with commissioning in FY30e; and (3) Strategic partnership with Accenture to generate >$100m in benefits by endFY29e (requiring an upfront $190m investment to be booked as an NRI).

Bell Potter has boosted its net profit estimates by 11% in FY 2027 and FY 2028, reflecting lower depreciation charges and the benefits of accelerated store opening program.

Should you buy Coles shares?

According to the note, Bell Potter has retained its hold rating on Coles shares with an improved price target of $24.40 (from $22.80).

This implies modest potential upside of 2.7% before dividends. Including them, Bell Potter expects a total return of just over 6%.

Commenting on its recommendation, the broker said:

The major acceleration in business investment creates a reasonably attractive growth profile through to FY29e, with a reasonable dividend yield. Staples remain in favour and COL is a beneficiary of this dynamic.

In determining our target price we have considered a sum of the parts and ROIC model. Major features of these approaches are: (1) Sum of the parts: We have incorporated multiple of 9.5x EBITDA for Supermarkets and 8.0x EBITDA for the liquor business, modest discounts to its peers; and (2) ROIC based approach : Which is predicated on a WACC of 8.1%, deriving an implied EV/EBITDA is ~9.3-9.5x FY27- 28e.

The post Are Coles shares a buy after its results? 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.

It seems strange to think about now, but it really wasn’t that long ago that bank stock Commonwealth Bank of Australia (ASX: CBA) was the largest share on the S&P/ASX 200 Index (ASX: XJO).

CBA held this crown for a long time, but it was usurped back in January by none other than BHP Group Ltd (ASX: BHP). The mining giant only held on to said crown for a few weeks, returning it to CBA in February. By March, though, BHP was back on top, and has been there ever since.

Today, the gap looks almost insurmountable. As we speak, BHP rules the ASX 200 roost with its market capitalisation of just over $344 billion. CBA comes in a distant second at a value of $262.75 billion.

In an ASX 200 index fund, this means that BHP commands about a 12% weighting, with CBA taking up 9.6%.

Given that just a few months ago, these two titans of the ASX were in lockstep, it is worth asking the question: ‘Will CBA shareholders take back the crown that it relinquished to BHP many moons ago?’

Well, the theoretical answer is of course yes. The ASX has seen many swings and roundabouts in the makeup of its top echelons over many decades. If CBA has supplanted BHP before, there’s no reason it cannot do so again. And vice versa.

So let’s look at what it took to get where we are today.

CBA vs BHP shares: The race to the top of the ASX 200

CBA shares have really had a year to forget in 2026. The stock is down about 2.5% year to date. It has had a lacklustre 12 months too, with the bank last hitting a record high of $192 a share back in June of 2025. Today, at $157.01, it is down more than 18% from that all-time high. An arguably stretched valuation, as well as concerns over housing and financial markets in Australia, are the likely culprits for this drop.

Meanwhile, BHP has been firing on all cylinders. The ‘Big Australian’s bet on copper has paid off handsomely, with roaring prices pushing BHP stock to reset its own record highs several times over 2026 to date. The most recent record came just yesterday, seeing the miner hit $68.22 a share.

Year to date, BHP has now lifted an astonishing 47.88%.

So we can see how the disparity between BHP and CBA shares has established itself.

But all it would take for the gap to narrow, or even invert, would be a change in economic conditions. BHP is a resources stock, and thus highly sensitive to commodity prices. If prices came off the boil, you can bet that BHP’s shares would follow, and sharply.

If CBA held its own or even attracted buyers looking for a safe haven (the company has benefited from this before), we could well see Commonwealth Bank regain its ASX 200 crown. It’s entirely possible. But whether it happens next month, next year or next decade is the $80 billion question.

The post Will CBA shares ever get back to the top of the ASX 200? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.