Analysts have identified three ASX-listed shares as buy recommendations, with potential price gains of up to 75%.

NextDC Ltd (ASX: NXT)

Shares of NextDC have remained relatively unchanged over the past year, trading between a low of $10.74 and a high of $17.93. Analysts at UBS have set a price target of $22.55 for the stock, which currently trades around $14.03.

The broker highlighted a recent company announcement to the ASX, noting that NextDC's contracted utilisation increased by 11% to 740 megawatts following new contract wins.

NextDC stated that its pro-forma forward order book is expected to convert progressively into billings, revenue, and EBITDA from the 2026 to 2030 financial years.

UBS commented that while the update contained very little specific detail, it represented another substantial win for the company. The broker added that quantifying the earnings impact is difficult without clarity on whether the contracts are for neocloud or AI services.

Alkane Resources Ltd (ASX: ALK)

UBS has revised its price target for Alkane Resources down by 40 cents to $1.75 but maintains a buy rating on the gold stock, which last traded at $1.35.

The broker noted that the company's recently reported quarterly costs exceeded its estimates, and its guidance for the 2027 financial year was considered soft.

In its recent update, Alkane also proposed its inaugural dividend of 2 cents per share, following a build-up of cash holdings to $432 million.

Managing Director Nic Earner described it as a strong finish to the year for the company, stating, "It has been another great quarter for Alkane, producing 40,949 ounces of gold and 456 tonnes of antimony (42,491 ounces of gold equivalent) over the full quarter, which places full year FY26 production at 168,337 ounces of gold equivalent, in the top half of guidance."

UBS suggested that merger and acquisition activity will likely remain a key focus as the most viable path for the company to increase production. The broker added, "Near term production in Tier 1 jurisdictions remains the preference, and we continue to view ALK's holding of Medallion Metals (ASX: MM8), with its Ravensthorpe Gold Project as an interesting option."

BCI Minerals Ltd (ASX: BCI)

Shaw and Partners has issued a buy rating on this salt project developer, stating in a research note this week that the company is making solid progress.

The broker commented, "Mardie has advanced significantly since our recent initiation, achieving construction completion of 85% (82% including the crystalliser lining program), up from 81% in March. Crucially, the operation has commenced salt precipitation on schedule, exiting the initial filling phase to become an active producer with 49kt of crystallised salt on pavement at quarter end. The critical path to First Salt on Ship remains governed by natural solar evaporation and weather conditions during this early phase. Management continues to target operational readiness for FSOS by MarQCY27."

Shaw and Partners further noted that as the project nears its first commercial harvest, "the current market valuation continues to significantly discount the tier-1 replacement value of this 60-plus year infrastructure asset. We expect a major equity re-rating as execution risks give way to structural cash flow."

The broker has set a price target of 75 cents for BCI Minerals, compared to its current trading price of 42.75 cents.