Are you a growth investor looking for new investments? Well, the good news is that the ASX growth shares listed below have been tipped as buys.
Hereâs why experts rate them highly right now:
Allkem Ltd (ASX: AKE)
If youâre not averse to investing in the resources sector and have a higher than average tolerance for risk, then it could be worth considering Allkem.
It became one of the worldâs largest lithium miners after Galaxy Resources and Orocobre merged in 2021. It has assets in Australia, South America, and North America.
And from these projects, Allkem has significant production capacity. In fact, management believes it can increase its production in a manner that allows it to maintain a 10% share of global lithium supply over the long term.
It is partly for this production growth, as well as its downstream optionality, that Goldman Sachs is bullish on Allkem at the same time it is bearish on the lithium industry.
Goldman has a buy rating and $15.50 price target on Allkemâs shares. This implies potential upside of 23% for investors from current levels.
WiseTech Global Ltd (ASX: WTC)
Another ASX growth share that has been tipped as a buy is WiseTech.
It is the technology company behind the industry-leading logistics solutions platform, CargoWise One. This platform allows users to execute complex logistics transactions and manage freight operations.
WiseTech has been growing at a strong rate for years and appears well-placed to continue this trend in the near term. For example, management is guiding to â20%-23% revenue growth and 21%-30% EBITDA growth.â
Morgan Stanley is confident on the companyâs outlook. As a result, it has put an overweight rating and $64.00 price target on its shares. This suggests potential upside of almost 18% for investors.
The post 2 highly-rated ASX growth shares to buy according to experts appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has positions in Allkem. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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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