Here’s why brokers rate these ASX growth shares as buys

Looking for growth shares to buy next week? Well, listed below are two growth shares that have recently been named as buys and tipped to have major upside potential.

Here’s what you need to know about them:

Dicker Data Ltd (ASX: DDR)

Dicker Data could be a growth share to buy. It is a leading technology hardware, software, and cloud distributor.

The company has been a quiet achiever over the last decade, delivering consistently solid earnings and dividend growth without much fanfare. Pleasingly, this positive form has continued this year with Dicker Data delivering a 50.5% increase in revenue to $673.6 million and a 22.7% lift in profit before tax to $23.8 million during the first quarter.

One leading broker that appears to believe this strong form can continue is Morgan Stanley. Last month, the broker retained its overweight rating and $16.00 price target on its shares. Based on the current Dicker Data share price, this implies potential upside of over 40%.

Treasury Wine Estates Ltd (ASX: TWE)

Treasury Wine could be another ASX growth share to buy. It is of course the wine giant behind popular brands such as 19 Crimes, Penfolds, and Wolf Blass.

After taking a big hit from being kicked out of China, Treasury Wine has returned to form in FY 2022. This has been driven largely by the success of its North American business.

The good news is that analysts at Morgans expect this positive form to continue. In fact, the broker said that it believes the “foundations are now in place for TWE to deliver strong double-digit growth from 2H22 over the next few years.”

Morgans has an add rating and $13.93 price target on the company’s shares. Based on the current Treasury Wine share price of $11.30, this implies potential upside of 23% for investors.

The post Here’s why brokers rate these ASX growth shares as buys appeared first on The Motley Fool Australia.

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More reading

• What I love about these 2 ASX growth shares
• Experts name 2 ASX growth shares to buy with major upside potential
• 2 blue chip ASX 200 shares Morgans rates as buys
• Despite recent volatility, brokers are bullish on the Treasury Wine share price
• The Dicker Data share price is trading at YTD lows. Here’s why

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 Dicker Data Limited. The Motley Fool Australia has positions in and has recommended Dicker Data Limited. The Motley Fool Australia has recommended Treasury Wine Estates 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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