Are you looking for growth shares to buy? If you are, then you may want to check out the two listed below that Goldman Sachs rates as buys.
Here’s what its analysts are saying about these explosive ASX growth shares right now:
Temple & Webster Group Ltd (ASX: TPW)
The first ASX growth share that Goldman Sachs says investors should buy is Temple & Webster. It is Australiaâs leading pure-play online retailer of furniture and homewares.
Goldman is tipping the company to grow at a rapid rate long into the future. It said:
TPW is early in its maturity cycle supporting long-term, sustainable growth. We forecast a +22% 10-yr EBITDA CAGR driven by consolidation of market share and growing online penetration. We do not think the market is pricing in upside from long term market share gains: If TPW can scale at a similar rate to JBHâs early growth this could see >100% upside to our current valuation.
The broker is so positive on the company that it has just added its shares to its conviction list. Goldman has a conviction buy rating and $7.60 price target.
Webjet Limited (ASX: WEB)
Another ASX growth share that Goldman rates as a buy is online travel booking company Webjet.
It believes the company has comes out of the pandemic in a significantly stronger position. So much so, it is expecting Webjet to grow its earnings at a six-year compound annual growth rate of 15.3%. It commented:
Our near term earnings changes remain modest given that we already price in a strong recovery for WEB in FY24/25. What these results have given us greater confidence is in the groupâs longer term outlook for both the Bedbanks and OTA businesses. WEB also continues to report strong cash generation.
Goldman has a conviction buy rating and $7.20 price target on its shares.
The post 2 explosive ASX growth shares to buy now: Goldman Sachs appeared first on The Motley Fool Australia.
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More reading
- Leading brokers name 3 ASX shares to buy today
- 3 of the very best ASX 200 travel shares to buy according to Goldman Sachs
- How I’d invest $20,000 in ASX shares in 2023
- Bargains or traps? Fundie reveals if these 3 ASX shares are worth buying cheap
- Here are the top 10 ASX 200 shares today
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Temple & Webster Group. The Motley Fool Australia has recommended Temple & Webster Group. 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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