If you’re a growth investor with room for some new portfolio additions, then it could be worth considering the three ASX growth shares listed below.

Here’s what you need to know about these buy-rated ASX shares:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX growth share to look at is this pizza chain operator, Domino’s. With its shares down 44% since the start the year, now could be an opportune time to invest. Particularly given its positive long term growth outlook, which is being underpinned by its plan to more than double its network by FY 2033. 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.

Life360 Inc (ASX: 360)

Another ASX growth share to look at is Life360. This growing technology company is responsible for the Life360 mobile app, which is a market leading app for families. It recently released its first quarter results and revealed a 36% increase in its global monthly active users to 38.3 million. This helped underpin a 73% increase in annualised monthly revenue to US$166.1 million. And while Life360 still isn’t profitable, which is weighing on its shares in the current environment, it has a hefty cash balance and plans to be cash flow positive in 2023.

Bell Potter is positive on the company and believes it has ample cash to fund it through to cash flow breakeven. The broker has a buy rating and $7.50 price target on its shares.

Lovisa Holdings Limited (ASX: LOV)

A final ASX growth share that is rated highly is Lovisa. It is a fast-fashion jewellery retailer which, like Domino’s, has set itself big expansion goals. And with an experienced management team behind it, Lovisa appears well-placed for strong growth over the next decade.

Morgans is also very positive on Lovisa and has an add rating and $24.00 price target on its shares. Its analysts are bullish on the company’s global expansion plans and believe “LOV may just prove to be one of the biggest success stories in Australian retail.”

The post 3 excellent ASX growth shares with major upside potential appeared first on The Motley Fool Australia.

More reading

• I’d invest $5,000 into these excellent ASX shares for the long term
• ASX 200 midday update: Pilbara Minerals names new CEO, Wesfarmers’ strategy update
• Top broker says beaten-up Domino’s share price has 46% upside
• What to do with these 3 pummelled ASX shares: advisor
• Best ASX shares to buy in June 2022

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and 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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The Tesla Inc (NASDAQ: TSLA) share price has had a stellar run in the past couple of weeks.

Tesla shares have soared 18% from $628.16 at the market close on 24 May to the current price of $740.37.

Let’s take a look at what’s happening.

Strong interest from retail investors

Tesla shares have been surging amid strong interest from retail investors, the Australian Financial Review (AFR) reports.

Tesla is a world-leading electric vehicle (EV) maker based in Austin, Texas and is led by CEO Elon Musk.

Vanda Research analyst Fabian Birli says there has been a “clear uptake in retail sentiment” since the start of the month.

Birli said:

In May, we’ve seen the strongest monthly buying of Tesla shares by retail investors since August 2020, when the company announced its first stock split.

A boost in production could be impacting the Tesla share price. In late May, Tesla revealed it will restart production at its Shanghai gigafactory. Tesla is looking to get production capacity back to 2,600 EVs per day.

Further, American investor Cathie Wood bought 42,000 shares of Tesla in late May, as my Foolish colleague in the US reported.

In news today, Musk has demanded staff return to work in the office or depart Tesla, Bloomberg reports. Musk informed workers they must spend at least 40 hours at the office each week. This must be at the main Tesla office, not a remote branch office.

Musk said:

If you don’t show up, we will assume you have resigned. The more senior you are, the more visible must be your presence.

On 14 April, Musk launched a plan to take over Twitter. The Twitter board of directors accepted a buyout offer of US$44 billion on 25 April, although it is still pending regulatory and shareholder approval.

Tesla share price snapshot

The Tesla share price has soared 22% in the past 12 months but has fallen 38% year to date.

For comparison, the NASDAQ 100 Index has shed 9.4% in a year, and lost 24% year to date.

Tesla has a market capitalisation of about $767 billion based on the current share price.

The post The Tesla share price has rallied 18% in less than a fortnight. What’s going on? appeared first on The Motley Fool Australia.

More reading

• Why Tesla stock is still falling today
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• If you’d bought $5,000 of Tesla shares 5 years ago, woohoo! Here’s how much you’d have now
• Why Tesla stock keeps going up
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The volatility in ASX lithium shares continued for a second day following their big plunge on Wednesday.

The Pilbara Minerals Ltd (ASX: PLS) share price and Allkem Ltd (ASX: AKE) share price flip flopped between gains and losses as other brokers weighed in on the sector.

Yesterday’s huge sell-off was triggered by Goldman Sachs, which warned that the lithium boom was over.

Less panic in ASX lithium share prices

But comments from other brokers may have helped temper the panic. Credit Suisse is not exactly a lithium bull as it changed its mind about the lithium market being in deficit over the coming years.

It now sees a more balanced lithium market in 2023 and 2024 with the chance of surplus supply from 2025.

That’s not normally good news, but it sounds bullish after Goldman’s prediction that lithium prices will crash to US$16,372 a tonne in 2023. The lithium spot price is currently standing at around US$50,000 a tonne.

When a downgrade feels like an upgrade

In contrast, Credit Suisse downgraded its 2023 spot lithium carbonate forecasts by “only” 12%. This is mainly due to a faster than expected supply response due to high commodity prices and slowing demand.

This sombre outlook prompted Credit Suisse to encourage investors to take profit on the Pilbara Minerals and Allkem share prices. In fact, the broker downgraded both shares to “neutral”.

Are the Allkem share price and Pilbara Minerals share price cheap?

The silver lining is that the brokers’ lowered price targets on both ASX lithium shares are higher than where they are currently. The 12-month price target on Pilbara Minerals is $3 a share and Allkem is $14.70 a share.

But the broker admits it could be too conservative on its lithium outlook if electric vehicle (EV) sales were to be stronger than anticipated. Credit Suisse said:

A 10% higher EV penetration would see 30-60kt supply deficits remain in 2023-24, sustaining price strength longer than our base case (implying global EV penetration of 26% vs base case 24% in 2025).

We revise up long term prices to account for cost inflation in our LT incentive price models.

EV sales boom not over

Coincidentally, Macquarie noted that sales of light EVs were up 65% year-on-year from January to April 2022. In contrast, traditional light combustion engine vehicles fell 11% during the period.

Macquarie commented:

There are growing signs of a major correction in prices for lithium, nickel and cobalt after the boom of the past year, reflecting mainly China slowdown.

For cobalt and lithium, this could be temporary once China bounces back while nickel prices could continue to fall due to rising Indonesian supply.

Further support for ASX lithium share prices

Meanwhile, some believe that Argentine customs’ decision to set a reference price for lithium exports also contributed to yesterday’s dramatic falls. But Citigroup doesn’t believe this is much of a threat.

The reference price of US$53,000 at tonne4 for lithium carbonate does not set a floor or a ceiling price for the commodity. It’s used only in instances where there is a large variance in contract pricing for exports.

While Citi is also expecting prices to ease in the coming years, its analysts are not painting as grim a picture as Goldman.

Citi is forecasting the lithium price to average around US$35,000 a tonne through to 2025. The broker added:

We remain positive on the lithium sector given this is still an extremely high price relative to miners production costs, especially compared to other markets, and historical prices.

The post Aside from Goldman Sachs, what are other brokers saying about ASX lithium shares? appeared first on The Motley Fool Australia.

More reading

• What’s dragging on ASX 200 bank shares like NAB on Thursday?
• Which ASX lithium shares are rebounding on Thursday, and which are not?
• ASX 200 midday update: Pilbara Minerals names new CEO, Wesfarmers’ strategy update
• Is the Allkem share price selloff a buying opportunity?
• Is this the real reason ASX lithium shares cratered on Wednesday?

Motley Fool contributor Brendon Lau has positions in Allkem Limited and Macquarie Group 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 Macquarie Group Limited. 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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There were a few leading S&P/ASX 300 Index (ASX: XKO) shares that hit 52-week lows today.

That means they reached the lowest price they have traded at over the past 12 months.

There has been a lot of market volatility over the past few months. Many ASX tech shares have sunk in 2022. But non-tech shares have also taken a hit as investors weigh up the impacts of inflation and interest rate hikes.

Here are three that hit 52-week lows today.

ARB Corporation Limited (ASX: ARB)

ARB claims to be Australia’s largest manufacturer and distributor of 4×4 accessories.

The ARB share price fell by more than 3.3% today. It hit a low of $30.14 before recovering to finish the session at $30.61.

Since the beginning of the year, the ARB share price has fallen by about 44%.

However, the company said last month that it maintains a positive outlook for a few different reasons.

Firstly, its customer order book remains consistently high, it has increased inventory levels to buffer against extended lead times, and the impact of new models (including the Toyota LandCruiser Series and the new Ford Ranger) are yet to flow through. It also has emerging partnerships with major customers and “exciting” new products in development.

The board and management are focused on mitigating key challenges for the business relating to the supply chain, costs, and labour.

However, the company believes that ARB is well-positioned to achieve long-term success with “strong” brands around the world.

Brickworks Limited (ASX: BKW)

Brickworks is one of the leading building products businesses in Australia.

It is the biggest brickmaker in Australia, with brands like Austral Bricks, Bowral Bricks and Nubrik. In roofing, it operates the Bristle Roofing business. Other businesses it is involved with include Southern Cross Cement, GB Masonry, UrbanStone, and Capital Battens.

While some of its earnings are generated by selling building products in Australia, it also has a brickmaking division in the US, an investments segment, and an industrial property segment.

Brickworks is expecting to report property development profits within the property trust in the coming reporting periods as it completes construction of some large warehouses for Coles Group Ltd (ASX: COL), Woolworths Group Ltd (ASX: WOW), and other businesses looking for large logistics properties.

The Brickworks share price fell by 2.12% today to close at $19.87. It’s now down almost 20% in 2022. It hit a 52-week low of $19.68 today.

Adairs Ltd (ASX: ADH)

Adairs is an expanding ASX 300 company that sells furniture and homewares.

Adairs is just one of the brands that the company operates. The business also owns Mocka, and Focus on Furniture.

The business saw disruption from store closures in the first half of FY22. Over the longer term, Adairs is looking to grow its store floor area, increase the number of Focus on Furniture stores, grow online sales, and increase its membership base.

The Adairs share price lost 2.69% today to finish the session at $2.17. That means it has now fallen by more than 46% in 2022.

The post 3 high-quality ASX 300 shares trading at 52-week lows today appeared first on The Motley Fool Australia.

More reading

• I’d buy these two ASX dividend shares in June 2022
• VAS is a unique ETF on the ASX. Here’s why
• 3 key reasons why I think the Adairs share price is a buy
• 3 ASX shares I’m telling my clients to buy: advisor
• Could now be a great time to start investing in ASX shares?

Motley Fool contributor Tristan Harrison 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 ADAIRS FPO and Brickworks. The Motley Fool Australia has positions in and has recommended ADAIRS FPO, Brickworks, and COLESGROUP DEF SET. The Motley Fool Australia has recommended ARB Corporation Limited. 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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