2 ASX shares tipped to grow up to 70% or more in the next 12 months

There are some ASX shares that experts believe could deliver big returns over the next year or so.

Of course, an analyst's projection is not a guarantee of upcoming returns, but I think it's a good sign of how undervalued some brokers believe a business is.

With projections that the following stocks could produce a strong double-digit return, they could be worth considering.

Paladin Energy Ltd (ASX: PDN)

The first ASX share I want to look at is Paladin Energy, a uranium miner which owns three-quarters of a project called the Langer Heinrich Mine.

There are also other elements to the business, such as its progression of the tier-1, high-grade Patterson Lake South project in the north of Saskatchewan. On top of that, the ASX share has a portfolio of exploration assets which are within the province's highly prospective Athabasca Basin as well as at the Michelin project in Newfoundland and Labrador. Additionally, it owns uranium exploration assets in Queensland and Western Australia.

According to CMC Invest, there have been 14 analyst ratings on the business within the last three months. Of those 14 ratings, 12 of those were a buy rating and just two were a hold.

A price target is where brokers think the share price will be in 12 months from the time of the investment call. According to CMC Invest, the average price target of those 14 brokers was $12.70, implying a possible rise of 70% over the next 12 months from where it is at the time of writing.

In October, the business reported its quarterly update for the three months to 30 September 2026. In that update, it said it produced 1Mlb of U3O8 and sold 1.16Mlb of U3O8. Paladin continues to make progress on its projects.

Pleasingly for the company, the average realised (sold) price for its uranium was US$79.4 per pound, up 12.4% year-over-year.

Propel Funeral Partners Ltd (ASX: PFP)

The other ASX share that I'll highlight is funeral operator Propel Funeral Partners, which has operations in both Australia and New Zealand. At the latest count, it operates from 213 locations, including 42 cremation facilities and nine cemeteries.

According to CMC Invest, there have been five expert ratings on the business within the last three months. All five of those ratings were a buy, so analysts are unanimous on the appeal of the business.

The average price target from those five analysts is $4.29, implying a possible rise of 61% over the year ahead.

Propel is exposed to long-term demographic tailwinds because of Australia's and New Zealand's ageing populations. Additionally, the company regularly makes acquisitions to boost its geographic presence and overall scale, giving it an inorganic option to expand its market share.

In its FY26 result release in August, the funeral business reported that in the month of July 2026, it generated $21.5 million of revenue, driven by comparable average revenue per funeral growth of more than 3%, despite a benign winter flu season.

This could be a smart time to look at the ASX share amid (pleasingly) weaker death volumes.

The post 2 ASX shares tipped to grow up to 70% 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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