Highlights

  • Temple & Webster’s share price has fallen but carries multiple Buy ratings and high price targets.
  • Brokers have Buy calls and positive targets on diverse ASX small caps across sectors.
  • Analyst targets generally sit above current share prices, suggesting upside potential.

In a market where large caps often grab the spotlight, several ASX small‑cap stocks are drawing attention from brokers with Buy ratings and price targets well above current levels. These companies span technology, retail, healthcare and energy sectors — and analysts are highlighting them as potential opportunities among smaller Australian stocks. Here’s a look at five ASX small‑cap Buy‑rated stocks that investors may want to follow.

  1. Temple & Webster Group Ltd (ASX:TPW)

Temple & Webster Group has rallied broker support despite recent share weakness. The stock is down about 52% over the past year and roughly 39% over the last month, trading around AUD 7.74 as of 13 February 2026. Brokers including Bell Potter (AUD 13.00 target), Canaccord Genuity (AUD 16.50), Jefferies (AUD 14.50) and Macquarie (AUD 13.70) have Buy or Outperform ratings. Refinitiv consensus data points to an average target of AUD 15.26 — indicating potential upside relative to the current share price. Temple & Webster’s half‑year results showed 20% revenue growth to AUD 375.9 million and expanding active customer counts.

  1. Bannerman Energy Ltd (ASX:BMN)

Bannerman Energy is trading at AUD 3.66, down 7.47% today, but has recorded a 25.17% gain over the past year. The stock has attracted positive broker attention, with Shaw and Partners assigning a Buy rating and a target price of AUD 4.70, Macquarie Research issuing an Outperform with a target of AUD 5.85, and Canaccord Genuity placing a Speculative Buy with a target price of AUD 4.95.

  1. PYC Therapeutics Ltd (ASX:PYC)

PYC Therapeutics is currently trading at AUD 1.48, up 0.34% today, and has gained 16.93% over the past year. The stock has drawn positive broker attention, with E&P assigning a Speculative Buy rating and a target price of AUD 5.08, while Refinitiv consensus data indicates a Buy rating with an average target price of AUD 3.56.

  1. Nuix Ltd (ASX:NXL)

Nuix is trading at AUD 1.43, down 1.59% today and has fallen 70.21% over the past year. Despite the steep decline, brokers remain optimistic, with Jefferies issuing a Buy rating and a target price of AUD 2.50, while Refinitiv consensus data shows a Buy rating with an average target price of AUD 2.92.

  1. Saluda Medical Inc (ASX:SLD)

Saluda Medical is currently trading at AUD 1.02, down 8.48% today and has declined 19.29% over the past year. Despite the recent weakness, Bell Potter Securities (Institutional) has issued a Buy rating with a target price of USD 1.89.

While small‑cap stocks carry higher volatility and risk compared with larger companies, several ASX stocks currently hold Buy ratings from brokers backed by price targets pointing above the market. Investors should weigh broker sentiment alongside company fundamentals, sector outlooks and personal risk tolerance before taking positions in small caps.

F&Q

  1. What defines an ASX small‑cap stock?
    Typically, small‑cap stocks have a market capitalisation below roughly AUD 2 billion.
  2. Are Buy ratings a guarantee of performance?
    Broker Buy calls indicate analyst conviction but are not guarantees. Ratings can change with new data.
  3. How should investors view small‑cap Buy targets versus risk?
    Targets signal potential upside, but investors should also consider financial health, earnings catalysts and market conditions.