If you’re looking for some new growth shares to buy, then it could be worth considering the three ASX shares listed below.
Here’s what you need to know about these highly rated growth shares:
Domino’s Pizza Enterprises Ltd (ASX: DMP)
The first ASX growth share to look at is this pizza chain operator. Domino’s could be a top option for investors after a significant pullback in its share price. Especially those that are willing to make a long term investment. This is due to the company’s bold expansion plans, which sees it aiming to more than double its network by FY 2033. It also has the balance sheet strength to add to its network, extending its market opportunity further. Morgans is very positive on Domino’s and believes “there is meaningful upside to the current share price over the next 12 months.”
Morgans has an add rating and $100.00 price target on its shares.
Lovisa Holdings Limited (ASX: LOV)
Another ASX growth share to look at is Lovisa. It is a fast-fashion jewellery retailer with a growing global store network. Morgans is very positive on the company and has even suggested that it could “prove to be one of the biggest success stories in Australian retail.” The broker sees a huge opportunity for Lovisa to expand internationally and appears confident that it has the management team to execute on this.
Morgans currently has an add rating and $24.00 price target on its shares.
Megaport Ltd (ASX: MP1)
A final growth share to look at is this global leading provider of elastic interconnection services. It has been growing at a rapid rate over the last few years thanks to increasing demand as the structural shift to the cloud continues. Analysts at Goldman Sachs are tipping this strong form to continue. It believes Megaport’s “opportunity for further growth is immense (GSe A$129bn p.a. spent on fixed enterprise networking across MP1 geographies).”
Goldman has a buy rating and $13.10 price target on its shares.
The post 3 ASX growth shares brokers rate as buys right now appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro 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 MEGAPORT FPO. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited, Lovisa Holdings Ltd, and MEGAPORT FPO. 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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