Broker Morgans has published new research reports this week, and among them, it has identified two companies it thinks could chalk up significant gains over the next year.
Saluda Medical Ltd (ASX: SLD)
Shares in this medical device company are down about 90% over the past 12 months and dipped again recently on bad news.
The company last week told the ASX in a statement that it was instigating a voluntary recall of a "defined population" of its Evoke Closed Loop Stimulators after the identification of "a low-incidence issue related to a third-party manufacturing process change''.
The Evoke is a spinal cord stimulation device.
The company said the relevant manufacturing process had been corrected, and devices issued following the corrective action were not affected.
Saluda said the issue "was found to result in temporary unintended stimulation associated with charging or an inability to charge the implanted device''.
The company added:
Based on the latest information available to the Company, 26 complaints have been reported among approximately 3,900 implanted devices within the potentially affected number, representing a reported complaint rate of approximately 0.66% accumulated over more than a two-year period. Based on the Company's statistical projections of remaining implanted patients, the expected future risk of additional complaints for this issue is approximately 29 over the remaining life of the devices.
The company said that, given the very low complaint rate, it was not recommending prophylactic replacement of the devices.
Morgans said in its research note that it was not changing its forecasts for the company, as the associated costs were expected to be within FY27 guidance.
It stated that the voluntary recall was "an unwelcome but manageable event''.
Morgans has a price target of $1.61 on Saluda shares compared with the current share price of 25.5 cents.
If achieved, this would be a 531.4% increase.
Torque Metals Ltd (ASX: TOR)
Torque Metals has just completed a $25 million capital raise at 19 cents per share, with the money to fund more exploration at its Ritz Gold Project.
Morgans said the drilling would test a strong pipeline of targets across the company's South Kalgoorlie prospects, following up historical and newly identified intercepts.
The broker said recent drilling had returned exceptional results that lay outside the company's existing high-grade deposit.
Morgans added:
In our view, the market has largely overlooked these results, as is common for explorers carrying a balance sheet overhang. With funding now secured, we think the market is better placed to reward TOR's future exploration success.
Morgans has a price target of 63 cents on Torque shares compared with the current share price of 16.75 cents.
If achieved, this would be a 276.1% return.
The post These 2 speculative ASX stocks could rise 276% and 530%: Morgans appeared first on The Motley Fool Australia.
Motley Fool contributor Cameron England 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.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2026