2 ASX growth shares that analysts love

A group of young people lined up on a wall are happy looking at their laptops and devices as they invest in the latest trendy stock.

A group of young people lined up on a wall are happy looking at their laptops and devices as they invest in the latest trendy stock.

If you’re looking for some growth shares to add to your portfolio next week, then you may want to look at the ones below.

Here’s what you need to know about these highly rated ASX growth shares:

Allkem Ltd (ASX: AKE)

The first ASX growth share for investors to consider is this lithium miner.

Allkem was formed after two leading lithium miners, Galaxy Resources and Orocobre, merged last year to create a top five global lithium miner. It owns a number of operations across the world including Olaroz, James Bay, Mt Cattlin, and the Sal de Vida brine project.

Management believes that these operations provide it with the opportunity to maintain a 10% share of global lithium production in the future. This positions the company perfectly to profit from the significant and growing demand for the battery making ingredient.

Morgans is very positive on lithium prices and continues to rate Allkem as its top pick in the industry. It currently has an add rating and $16.72 price target on its shares.

Life360 Inc (ASX: 360)

Another ASX growth share to consider buying is Life360. It operates in the digital consumer subscription services market, with a focus on products and services for digitally native families.

The company’s key offering is the popular Life360 app, which offers families features such as communications, driver safety, and location sharing. In addition, the company has expanded into the wearables and items tracking market via the acquisitions of Jiobit and Tile. This gives Life360 significant cross-selling opportunities to its large subscriber base of over 30 million active users.

The team at Bell Potter is very positive on Life360 and has a buy rating and $7.50 price target on its shares.

The post 2 ASX growth shares that analysts love appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Allkem Limited and 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 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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