Buy these ASX growth shares for market-beating returns

The share market historically has generated a return of approximately 10% per annum.

But you may not have to settle for that.

For example, analysts think the ASX growth shares listed below can deliver significantly stronger than average returns over the next 12 months.

Here’s what they are saying about them:

Cettire Ltd (ASX: CTT)

This online luxury retailer could be an ASX growth share to buy according to analysts at Bell Potter.

The broker believes Cettire could be a top option due to its strong long term growth outlook in a huge market. The broker explains:

Cettire has a rapidly growing global online luxury personal goods retailing platform in a large market with a structural shift to online well underway. We believe CTT will continue to outperform its peer group consisting of global luxury retailers and local e-commerce players given its <1% market share in a growing market, which could remain more resilient than other discretionary categories in a likely recessionary environment.

Bell Potter currently has a buy rating and $4.00 price target on its shares.

Lovisa Holdings Ltd (ASX: LOV)

Another ASX growth share that analysts are bullish on is Lovisa.

Morgans is a fan of the growing fashion jewellery retailer. This is because it believes Lovisa is well-positioned to continue its strong growth over the long term thanks to the popularity of its offering and its large global expansion opportunity. It said:

LOV grew substantially in FY23 to finish the year with an 801-store network in 39 countries. We believe it plans to enter mainland China in FY24, paving the way for significant longer-term growth. We have increased our finance cost estimates in FY24 and FY25, leading to 7% and 3% lower forecast NPAT. We have increased our long-run earnings estimates.

The broker has an add rating and $27.50 price target on its shares.

The post Buy these ASX growth shares for market-beating returns appeared first on The Motley Fool Australia.

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More reading

• Why Lovisa could become one of the top ASX 200 shares for dividend income
• The ultimate ASX growth shares I’d buy with $7,000 right now
• Buy and hold these ASX dividend stocks for a decade
• ASX passive income seekers: Invest $10,000 for $520 in monthly income
• Buying ASX retail shares? You’ll want to see these numbers

Motley Fool contributor James Mickleboro has positions in Lovisa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa. The Motley Fool Australia has recommended Cettire and Lovisa. 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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