Are you on the lookout for some big returns? If you are, then it could pay to listen to what brokers are saying about the ASX shares in this article.

That's because they have been named as buys and tipped to rise more than 20% from current levels. Here's what they are saying:

Boss Energy Ltd (ASX: BOE)

Bell Potter sees plenty of upside in this uranium miner. The broker currently has a buy rating and $4.70 price target on its shares. This implies potential upside of 46% for investors over the next 12 months.

The broker believes that the ASX share is undervalued at current levels and could be destined to have a re-rating if its second quarter result is in line with expectations. It said:

We continue to view BOE as being attractively priced (FY25 Forward EV/EBITDA 6.6x) vs peers, which could warrant a re-rate post the 2QFY25 result, should production and costs track in-line with our expectations. We maintain our conviction in Uranium and Nuclear over the coming 12m and our Buy recommendation and $4.70/sh Target price for BOE.

Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH)

Goldman Sachs thinks that medical device company Fisher & Paykel Healthcare could be an ASX share to buy. It put a buy rating and $42.70 price target on its shares this month. This implies potential upside of 23% for investors over the next 12 months.

The broker highlights that Fisher & Paykel Healthcare is well-placed for growth through to FY 2030 thanks to its hospital segment and large addressable market. It said:

Our Buy thesis is underpinned by (1) Acceleration of revenue in the hospital segment (+15.1% FY24-FY30E CAGR) assisted by an expansion to FPH's Total Addressable Market (TAM), (2) Favorable point in the product cycle with several new launches across CY22-24 driving Gross Margin (GM%) expansion and mitigating downside risks from potential US policy changes, and (3) Opportunity in the Nasal High Flow Therapy (NHFT) home segment where certain regions have commenced reimbursements.

HMC Capital Ltd (ASX: HMC)

The team at Bell Potter is also bullish on this diversified alternative asset manager and sees it as an ASX share to buy. The broker recently put a buy rating and $13.50 price target on its shares. This suggests that they could rise 46% between now and this time next year.

Its analysts believe that recent share price weakness has created an attractive entry point for investors. It said:

It has been remarkable half year period for HMC and we upgrade to Buy (was Hold). We think the share price pull-back provides an attractive entry point as the platform is reaching a scale and breadth sweet spot juncture which could see fee-earning capability increase further yet, and screens inexpensively vs. key global alternative AM and real estate fund manager peers.