Looking for a growth share or maybe two to buy? If you are, you may want to look at the two listed below.
Hereâs why these ASX growth shares are rated highly right now:
Lovisa Holdings Limited (ASX: LOV)
This fast-fashion jewellery retailer could be a top option for growth investors right now.
Morgans is very positive on the company and believes it is well-placed for growth over the long term thanks to its global expansion. Its analysts commented:
LOV continues to impress us with the rate at which it opens new stores and expands into new markets. As we have said before, LOV may just prove to be one of the biggest success stories in Australian retail. LOV is showing every sign of becoming a global brand.
The broker currently has an add rating and $28.50 price target on its shares.
Webjet Limited (ASX: WEB)
Another ASX growth share that has been named as a buy is online travel booking company Webjet.
Goldman Sachs is positive on the company. It believes Webjet has come out of the pandemic as a significantly stronger company and expects this to lead to strong earnings growth over the coming years. It commented:
We have the stock on our Conviction List as we believe WEBâs Bedbanks business offers a structural growth opportunity which is expected to drive scale benefits and see an improved cost structure with system changes and ERP upgrades which will only be realized as WEB goes through the recovery cycles. […] We note that upside remains thin on this name vs. our Target Price, but consensus expectations for group margins continue to be well below GSe for FY24/25 implying potential consensus upgrades in our view.
Goldman has a conviction buy rating and price target of $7.20 on its shares.
The post Jewellery and travel: Analysts say these ASX growth shares are buys appeared first on The Motley Fool Australia.
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More reading
- Here are the top 10 ASX 200 shares today
- Buy these 3 ASX retail shares: Morgans
- Up 8% in 2023, is right now the time to buy back into Webjet shares?
- Why analysts are very bullish on these ASX growth shares
- Hereâs why experts rate these ASX 200 growth shares as buys
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 Lovisa. The Motley Fool Australia has recommended 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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