Analysts name 2 ASX growth shares to buy with major upside potential

Man pointing an upward line on a bar graph symbolising a rising share price.

Man pointing an upward line on a bar graph symbolising a rising share price.

If you’re interested in adding some growth shares to your portfolio, then the two listed below could be worth a look.

These ASX growth shares have been named as buys and tipped to climb materially higher from current levels. Here’s what you need to know about them:

Aristocrat Leisure Limited (ASX: ALL)

The first growth share for investors to look at is Aristocrat. It is a gaming technology company with a portfolio of world class pokie machines and digital games. The latter includes the hugely popular Raid: Shadow Legends, which is generating significant recurring revenues for its Pixel United business. In addition, the company is looking to win a big share of the emerging real money gaming market.

The team at Citi is very positive on Aristocrat and believes it “represents a compelling long-term growth story.” It currently has a buy rating and $41.00 price target on the company’s shares. Based on the current Aristocrat share price of $33.95, this implies potential upside of 21% for investors over the next 12 months.

Lovisa Holdings Limited (ASX: LOV)

Another ASX growth share that could have room to race higher is Lovisa. It is a fast-fashion jewellery retailer which has been growing at a solid for over a decade. The good news is that due to the popularity of its offering and its global expansion plans, the company has been tipped to continue this trend long into the future.

Morgans is very positive on Lovisa and believes the company could “prove to be one of the biggest success stories in Australian retail.” Its analysts have an add rating and $24.00 price target on its shares. Based on the current Lovisa share price of $14.51, this implies potential upside of 65% for investors over the next 12 months.

The post Analysts name 2 ASX growth shares to buy with major upside potential 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Lovisa Holdings Ltd. 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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