There is a wide range of opportunities across the ASX share market. Analysts are always on the lookout for undervalued companies that could deliver strong returns.
When one analyst thinks a business is a buy, that's an interesting idea to look into. When multiple experts thinks a business is a buy, it could be a clear opportunity for investors to consider.
Let's look at two ASX share ideas that are backed by multiple analysts where they think the share price (as indicated by the price target) could rise by at least 40% in the next year.
Propel Funeral Partners Ltd (ASX: PFP)
Propel Funeral Partners operates funerals in Australia and New Zealand; it's the second-largest operator in the industry. It currently operates from over 200 locations, including 41 cremation facilities and nine cemeteries.
According to CMC Invest, there have been four ratings on the business within the last three months. The average price target from those four analysts is $4.65, suggesting a possible rise of 41% within the next 12 months. Even the most pessimistic price target is $3.80, suggesting a possible rise of 15%.
The next decade looks positive for growth by the business – according to Propel, death volumes are expected to increase at a compound annual growth rate (CAGR) of 2.9% between 2026 to 2035.
Acquisitions are another scale-boosting growth avenue, as well as long-term growth of the funeral price. The average revenue per funeral grew by a CAGR of 2.8% per year between FY15 and the first half of FY26.
I also think the business is undervalued right now and could be a compelling long-term buy after falling more than 30% in the past year.
Integral Diagnostics Ltd (ASX: IDX)
Another ASX share that analysts right like right now is Integral Diagnostics. It describes itself as a leading provider of medical imaging services across Australia and New Zealand. It employs some of Australasia's leading radiologists and diagnostic imaging specialists.
According to CMC Invest, there have been seven ratings on the business within the last three months, with six of those being a buy and just one being a hold rating.
The average price target of those seven analysts is $3.17, suggesting a possible rise of 42% within the next year.
The ASX share is delivering rapid growth – it recently announced some preliminary FY26 numbers. Operating revenue is expected to grow by 25%, operating profit (operating EBITDA) is expected to grow by around 30% and operating net profit after tax (NPAT) is expected to grow by around 50%.
Perhaps most importantly, operating earnings per share (EPS) is expected to grow by around 23%.
Overall, these could be two of the existing ASX shares to look at right now. I'm planning to put some money into Propel shares later this month.
The post 2 ASX shares tipped to grow 40% or more in the next 12 months appeared first on The Motley Fool Australia.
Motley Fool contributor Tristan Harrison has positions in Propel Funeral Partners. 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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