Looking for a growth share or two to buy in 2022? Two that could be worth considering are listed below.
Both look well-placed for growth during the 2020s. Here’s what you need to know about these ASX growth shares:
Allkem Limited (ASX: AKE)
Allkem could be a growth share to buy in 2022. It is the top five global lithium mining company that was created with the merger of Galaxy Resources and Orocobre. Allkem owns a collection of high-quality assets including Olaroz, Mt Cattlin, and the Sal de Vida brine project. Importantly, unlike a growing number of explorers on the Australian share market, Allkem is already producing lithium in large quantities. This means that it is benefiting greatly from the record lithium prices being underpinned by the clean energy transition and the rapid adoption of electric vehicles.
The good news is that Macquarie expects these high prices to remain for at least four years, which bodes well for the future. In light of this, the broker has put an outperform rating and $13.60 price target on its shares.
ResMed Inc. (ASX: RMD)
Another ASX growth share to consider is ResMed. It is focused on the development, manufacture, distribution, and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders. These include sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease, and other chronic diseases. Thanks to its world class portfolio, huge market opportunity, and wide distribution network, ResMed appears well-placed for growth again over the 2020s. Particularly given a major product recall from a key rival.
Credit Suisse is very positive on ResMed and expects it to benefit greatly from the aforementioned product recall by Philips. In light of this, it has slapped an outperform rating and $43.00 price target on the company’s shares.
The post 2 excellent ASX growth shares offering big potential returns in 2022 appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
More reading
- Macquarie names the best ASX lithium shares to buy in 2022
- Why analysts love these ASX 200 blue chip shares
- 3 ASX 200 shares with major upside potential in 2022
- 3 excellent ASX growth shares analysts are excited about
- Is the IGO (ASX:IGO) share price a better buy than Allkem?
Motley Fool contributor James Mickleboro owns Orocobre Limited. 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 recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3H9pELw
Leave a Reply