The S&P/ASX 200 Index (ASX: XJO) slid lower in August, and the share price declines continued through to early September. At the time of writing, the index is down around 1% over the past month, but is still roughly 3% higher for the year to date. 

But when the markets look weary, it’s worth looking for shares which are tipped to outperform. Here are three ASX shares that brokers are tipping to outperform the index, and they’re forecast to grow by up to 174% or more over the next 12 months.

Resmed Inc (ASX: RMD)

At the time of writing, Resmed shares have rebounded around 25% from a multi-year low in early June. But they’re still down around 11% year-to-date, and trading at $32.28 each.

The ASX healthcare sector came under fire through early 2026 as macroeconomic pressures, rising inflation, higher cost of living, and regulatory uncertainty created a sector-wide downturn. 

And ResMed was one of many ASX 200 healthcare shares caught up in the sell-off.

And the sleep disorder treatment company’s soft third-quarter earnings update in May didn’t help either. ResMed delivered an 11% (8% in constant currency) increase in revenue to US$1.4 billion. This was driven by increased demand for its portfolio of sleep devices, masks, and accessories.

But ResMed shares have bounced higher recently off the back of improved confidence around healthcare shares and a stronger fourth-quarter result last month. 

ResMed’s revenue has continued to grow at a healthy pace, and its margins have continued expanding. The company has also generated strong free cash flow. 

It looks like the ASX 200 shares are now significantly oversold and trading below fair value.

TradingView data shows the majority of brokers have a buy/strong buy rating on ResMed shares. The maximum $46.13 target price implies the shares could increase up to 43% over the next 12 months, at the time of writing.

Macquarie Group Ltd (ASX: MQG)

Macquarie shares have stormed higher in 2026, rallying strongly in April and reaching an all-time high in early August.

At the time of writing, the shares are up around 22% for the year-to-date following a series of good-news announcements.

In late July, the investment bank posted its first-quarter FY27 update, held an AGM, and announced that Greg Ward will take over Shemara Wikramanayake as Macquarie Group CEO.

As part of its results update, Macquarie described trading conditions during the first quarter as “satisfactory”. It reported that its Banking and Financial Services segment increased its profit contribution compared with the same period last year. Deposits rose by 4% during the quarter, while home loans grew by 6% and business banking loans increased by 3%.

The results followed the company’s positive earnings results back in May. At the time, Macquarie reported a full-year FY26 net profit of $4.85 billion, up 30% from FY25. It also confirmed growth across all four of its operating divisions.

Investors are thrilled with Macquarie this year, and many are still rushing to snap up the ASX 200 shares.

And brokers see lots of potential going forward, too.

Market Index data shows that the majority of brokers have a buy/strong buy rating. The maximum $290.40 target price implies the shares could jump by up to 17% over the next 12 months.

The post 2 ASX 200 shares tipped by brokers to return 17% to 43% appeared first on The Motley Fool Australia.

More reading

• How I’d use ASX shares to build wealth outside my superannuation
• Up 24%! Are Macquarie shares still a good buy today?
• How to build an ASX portfolio you can stick with for 10 years
• By September 2027, $5,000 invested in Macquarie shares could turn into…
• How to build an ASX portfolio you do not need to check every day

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

New analysis from the team at Bell Potter have identified upside for ASX energy shares Paladin Energy Ltd (ASX: PDN) and Boss Energy Ltd (ASX: BOE). 

ASX energy shares have enjoyed strong returns in 2026, as robust commodity prices, strong demand and improving investor sentiment have boosted the sector.

However, it hasn’t been all smooth sailing for the aforementioned stocks. 

Boss Energy has actually dipped 8% year to date. 

Meanwhile, Paladin Energy has risen 11% year-to-date.

For comparison, the S&P/ASX 200 Energy (ASX: XEJ) is up almost 30% year-to-date. 

Here is what’s behind the optimism for these two ASX energy shares from Bell Potter. 

Investor day reaffirms confidence for Paladin 

In yesterday’s report, Bell Potter said it remains positive on this ASX energy stock, with no changes to its modelling or earnings outlook following the company’s investor day.

The company is focused on optimising production at Langer Heinrich, while progressing Paterson Lake South (PLS) toward potential production in 2031.

The broker highlighted that Paladin has strong exposure to rising uranium prices. 

Additionally, planned 30,000m of drilling in FY27 could expand resources and mine life, providing further upside. 

Overall, Bell Potter sees the investor day as confirmation of the existing investment case rather than a reason to change its forecasts.

Based on this guidance, the broker has a buy recommendation and $14.80 price target, indicating 31% upside from current levels. 

Bell Potter isn’t the only broker with a positive outlook. 

Recently, Canaccord Genuity renewed its buy rating on Paladin Energy shares.

The broker raised its 12-month price target from $15.40 to $15.80.

Boss Energy also a buy

The team at Bell Potter has also retained its buy recommendation on Boss Energy shares. 

The broker commented on the new feasibility study (NFS) from the ASX energy company for its Honeymoon operation. 

According to the report, the new well design uses fewer wells and longer uranium recovery times, which management expects will improve recovery to 90% from 80%.

Overall, the new study improves operational efficiency and recovery, but comes with higher costs and capex.

We maintain our Buy recommendation. The Honeymoon NFS provides clarity on the cost outlook and a clear pathway to steady-state production. BOE has leverage to rising uranium prices, on which we hold a positive long-term view.

The broker has an updated price target of $1.70 on this ASX energy stock, indicating 18% upside from current levels. 

The post These 2 ASX energy shares have 18-31% upside according to Bell Potter appeared first on The Motley Fool Australia.

More reading

• 11 ASX 200 shares with reaffirmed buy ratings post-results
• This ASX 200 stock just got a big upgrade from Bell Potter
• Buy, hold, sell: Boss Energy, Austal, Liontown shares
• This exciting ASX 300 stock has 89% upside: Broker
• 5 ASX shares downgraded by Morgans post-results

Motley Fool contributor Aaron Bell 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.

Australian supermarket rivals Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL) have been in close competition for decades. The two supermarket shares dominate the Australian supermarket sector, and account for around 70% of market share combined.

They compete closely for grocery prices, customers, and supplier terms.

Here’s the latest out of the two retailers, and what is expected next. 

In my view, one is a buy and one is a sell.

I’d buy Coles shares

Coles shares have climbed higher so far in 2026 off the back of stronger financial results, execution of its turnaround strategy, and higher sales figures. 

At the time of writing, the shares are up around 12% for the year-to-date and are trading at $23.85 a piece.

The company posted its FY26 results last month, which included a 2.8% increase in its group sales revenue, a 9.9% increase in its EBIT excluding significant items, and a 13.7% increase in its NPAT excluding significant items.

Management also declared a fully-franked total dividend of 78 cents per share for FY26, an increase of 13%.

It looks like investors are pleased that the company’s efforts have started to translate in better earnings.

And there are also more growth plans in the works.

Coles said it is ramping up its investment in new stores, renewals, and technology, including accelerated eCommerce and supply chain automation.

Most experts are positive about the outlook for Coles shares over the next 12 months.

According to TradingView, the majority of analysts (eight out of 17) have a buy/strong buy rating on Coles shares, and another seven rate Coles shares as a hold. Two experts have a sell/strong sell rating.

The average $24.46 target price implies a potential 3% upside over the next 12 months, at the time of writing. 

I’d sell Woolworths shares

Woolworths shares have had a more stable run this year, versus Coles. The supermarket shares have mostly trended upwards and at the time of writing, are around 34% higher for the year-to-date.

It looks like the increase is mostly driven by investor confidence that the turnaround is coming to fruition. There is renewed investor confidence that the retailer’s earnings are recovering after a difficult period in late 2025.

The ASX consumer staples stock gathered more attention after it posted its FY26 results last month. 

The supermarket giant reported a 3.6% year-on-year boost in sales to $71.54 billion. And EBITDA (before significant items) increased by 6.7% to $6.09 billion. On the bottom line, Woolworths achieved a NPAT (before significant items) of $1.60 billion, up 15.4%.

The bumper results meant management was able to increase the final fully franked dividend by 15.6% from last year’s final payout of 52 cents per share.

Investors were clearly pleased with the result, and the shares rallied to a new multi-year high shortly afterwards.

But it looks like the shares are now fully priced with little room for more upside. 

Market experts agree. TradingView data shows the majority of analysts (nine out of 17) have a hold rating on Woolworths shares. But another six rate the shares as a sell/strong sell.

The average $39.71 target price implies a potential 1% upside over the next 12 months, at the time of writing.

The post Coles vs Woolworths shares: One I’d buy and one I’d sell appeared first on The Motley Fool Australia.

More reading

• How I’d use ASX shares to build wealth outside my superannuation
• 11 ASX 200 shares with reaffirmed buy ratings post-results
• Top 3 ASX 200 shares that lifted their dividend this reporting season
• Own BHP, Woodside or Coles shares? Here’s what investors should know
• 5 things to watch on the ASX 200 on Thursday

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.