Ongoing conflict in the Middle East has weigh heavily on global markets, driving a sharp sell-off in ASX shares this month.
But when times are tense and share prices are falling, it creates some great buying opportunities for investors to snap up ASX shares for a low price.
Here are three dirt-cheap ASX shares which have caught my eye this week. And they're all tipped to climb another 50% to 90% over the next 12 months.
Myer Holdings Ltd (ASX: MYR)
As a fashion retail stock, Myer shares are heavily impacted by market volatility and concerns about more interest rate rises. Higher cost-of-living also means Australians are tightening their purse strings and spending less.
The ASX company has already faced profitability and operational issues. Now it is being hit with a double whammy of distribution issues and lower consumer spending.
But Myer reported a solid first-half financial result last week, including a 21.7% increase in underlying net profit and a 32.8% hike in statutory net profit for the six months ending 24th January.
The results imply that the business has its operating costs under control and its strategic initiatives are gaining traction. At just 30 cents a piece, at the time of writing, analysts think the shares are now undervalued and oversold. The ASX shares are tipped to climb 86% to 58 cents at the time of writing.
Catapult Sports Ltd (ASX: CAT)
Catapult is a global sports data and analytics company that provides real-time data to optimise athletes' performance. The tech company reported a 16% revenue uplift in the first half of FY26 and a 19% hike in its annualised contract value (ACV). It also expects more growth through the second half of FY26
Catapult is quickly gaining traction, and its recurring subscriptions means it benefits from customer retention. That translates to a higher and more stable margin.
The ASX shares have tumbled 28% to $3.08 for the year-to-date. But analysts are tipping a turnaround. They forecast Catapult shares will climb 94% to $5.80 over the next 12 months, at the time of writing.
Ramelius Resources Ltd (ASX: RMS)
The gold explorer and producer's shares have tumbled over 25% since Israel and the US launched strikes on Iran in late-February.
Concerns about a resurgence of inflation and renewed potential for more interest rate hikes has overshadowed gold's traditional safe-haven status. The price of gold has tumbled from an all-time high on the 1st of March, making the metal even less appealing to investors.
But the ASX gold miner has demonstrated strong production performance and consistent cash generation.
Analysts are bullish about the outlook for the ASX gold miner's shares. They tip a 56% upside to $5.59 a piece, at the time of writing.
The post These 3 dirt-cheap ASX shares are tipped to climb another 50-90% appeared first on The Motley Fool Australia.
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 Catapult Sports. The Motley Fool Australia has positions in and has recommended Catapult Sports. The Motley Fool Australia has recommended Myer. 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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