The great news for Aussie growth investors is that there are plenty of quality options to choose from on the local share market.
But which ASX growth shares could be best buys next week?
Let’s take a look at three growth shares that brokers rate very highly:
IDP Education Ltd (ASX: IEL)
This language testing and student placement company’s shares could be an ASX growth share to buy now.
That’s the view of analysts at Goldman Sachs, which believe the company is well-placed for long-term growth thanks to structural tailwinds and its dominant market position.
The broker recently responded to its half-year results by retaining its buy rating with a $26.60 price target. This would mean upside of almost 44% for investors if Goldman is on the money with its recommendation.
Megaport Ltd (ASX: MP1)
Analysts at Macquarie think this leading global provider of elastic interconnection services could be an ASX growth share to buy.
The broker appears to believe the stars are now aligning for the company and that it is destined to deliver explosive earnings growth over the coming years.
In response to its half-year results last month, Macquarie retained its outperform rating on Megaport’s shares with an improved price target of $18.00. This suggests potential upside of 25% for investors.
Xero Limited (ASX: XRO)
A final ASX growth share that has been named as a buy is Xero. It is a cloud-based accounting and business services platform provider to small businesses.
Although its shares have been on fire so far this year, the team at Citi doesn’t believe it is too late to invest.
In fact, the broker sees potential for market-beating returns from its shares from current levels. It has a buy rating and $159.00 price target on them. This implies potential upside of 17% for investors from current levels.
The post 3 of the best ASX growth shares to buy now appeared first on The Motley Fool Australia.
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Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Idp Education, Macquarie Group, Megaport, and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group and Xero. The Motley Fool Australia has recommended Idp Education and Megaport. 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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