Buy these ASX growth shares for 20% to 40% returns

If you’re looking for some big returns, then it could be worth checking out the ASX growth shares listed below.

That’s because they have been named as buys and tipped to rise 20% or greater.

Here’s what analysts are saying about these buy-rated shares:

Flight Centre Travel Group Ltd (ASX: FLT)

The first ASX growth share that has been named as a buy is travel agent giant Flight Centre.

The team at Morgans is positive on the company, noting that “with confidence that the travel recovery has much further to go and the benefits of FLT’s transformed business model emerging, we think the company is well placed over coming years.”

The broker has an add rating and $26.00 price target on its shares. This implies 20% upside for investors from current levels.

IDP Education Ltd (ASX: IEL)

Over at Bell Potter, its analysts see this beaten down language testing and student placement company’s shares as a top option right now.

The broker likes IDP Education due to structural growth tailwinds. And while its shares have a premium valuation, its analysts “believe this is justified given its dominant market position, potential for M&A and successful track record.”

Bell Potter has a buy rating and $27.00 price target on its shares. This suggests 40% upside for investors over the next 12 months.

Life360 Inc (ASX: 360)

A final ASX growth share that could be in the buy zone is Life360. It is the location technology company behind the popular Life360 app, which has almost 60 million monthly active users.

Goldman Sachs remains very bullish on the company’s outlook thanks partly to its “US$12bn global TAM with a large opportunity to expand its product suite.”

Goldman currently has a buy rating and $10.50 price target on the company’s shares. This represents 37% upside for investors from current levels.

The post Buy these ASX growth shares for 20% to 40% returns appeared first on The Motley Fool Australia.

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More reading

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• 2 top ASX growth shares to buy right now and hold for the long term
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Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Idp Education, and Life360. The Motley Fool Australia has recommended Flight Centre Travel Group and Idp Education. 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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