Tag: Motley Fool

Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.

Here’s why brokers think investors ought to buy them next week:

Australia and New Zealand Bank Group Ltd (ASX: ANZ)

According to a note out of Macquarie, its analysts have upgraded this banking giant’s shares to an outperform rating with an improved price target of $24.00. Macquarie has become bullish on bank shares thanks to rising rates and slower term deposit repricing. It believes these pose upside risks to bank earnings estimates during the first half of FY 2023. In addition, it is worth highlighting that the broker is expecting a 6%+ dividend yield in FY 2023 from the bank. The ANZ share price ended the week at $23.02.

ResMed Inc. (ASX: RMD)

Another note out of Macquarie reveals that its analysts have retained their outperform rating and $38.70 price target on this sleep treatment company’s shares. This follows news that rival Philips is facing another product recall. Macquarie sees potential for ResMed to win market share from Philips thanks to this news. The ResMed share price was fetching $34.25 at Friday’s close.

Temple & Webster Group Ltd (ASX: TPW)

Analysts at Goldman Sachs have initiated coverage on this online furniture retailer’s shares with a buy rating and $7.55 price target. According to the note, the broker believes Temple & Webster is positioned for strong long term growth. It feels the company is best placed to be a winner in a category that favours scale players, requires a specialised approach to e-commerce, and has higher barriers to entry versus other retail categories. The Temple & Webster share price ended the week at $5.84.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

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More reading

• ‘It’s a bit like a home renovation’: What does the future look like for ANZ shares?
• Why did the Kogan share price leap 5% on Friday?
• ‘Material runway’: Goldman Sachs says Temple & Webster share price is a buy
• ASX better buy: Temple & Webster or Kogan shares?
• Top brokers name 3 ASX shares to buy 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 ResMed Inc. and Temple & Webster Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. The Motley Fool Australia has recommended Macquarie Group Limited and Temple & Webster Group Ltd. 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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The Altium Limited (ASX: ALU) share price is down 15% in 2022 to date. But I’m not worried. I don’t plan to sell my shares for a long time to come. I think the S&P/ASX 200 Index (ASX: XJO) technology share has plenty of long-term potential.

For readers who don’t know what Altium does, the company describes itself as a multinational software business that focuses on electronics design systems for 3D PCB design and embedded system development.

While the Altium share price may be down 15% in 2022, it was actually trading a great deal lower earlier this year. It was down more than 40%, in fact. So shares in the company have risen by around 50% since that low point.

Volatility is normal in the ASX share market. I think that times of (hopefully temporary) declines can actually open up opportunities to buy shares. A lower price doesn’t mean that the business has gotten worse – it’s simply a reflection of what the market is willing to pay that day to buy shares. We don’t have to accept that offer.

At the current Altium share price, I want to keep holding onto my shares in the ASX 200 tech company. Here are my key reasons why:

Return to growth

Altium has delivered plenty of growth for investors over the last several years. The impacts of COVID-19 caused a bit of a speed bump, but FY22 showed that the company had strongly returned to growth, with revenue rising by 23% to US$220.8 million. Octopart – a US-based electrical parts search engine – saw revenue growth of 85% to US$50 million.

Net profit after tax (NPAT) soared by 57% to US$55.5 million.

A significant number of technology majors now use Altium software, including Tesla, NASA, Microsoft, Amazon, Apple, Alphabet, Space X and so on. The world’s increasing digitalisation is a useful tailwind for the ASX tech share, and Altium 365 – the company’s cloud platform – is helping to win over customers. In addition, it opens up more growth avenues like manufacturing.

In FY23, Altium expects to grow its revenue by another 15% to 20% to a range of US$255 million to US$265 million.

Growing operating leverage

As Altium grows, it aims to increase its profit margins. This can help the net profit grow even faster than the revenue.

The ASX 200 tech share managed to improve its underlying earnings before interest, tax, depreciation and amortisation (EBITDA) margin from 34.3% to 36.7% in FY22.

By FY26, the company aims to reach US$500 million of revenue, and the underlying EBITDA margin is expected to reach between 38% to 40%.

Another element that is helping the profit margin is a higher level of recurring revenue compared to total revenue. Recurring revenue was 75% of the total in FY22, up from 65% in FY21.

Shareholder returns

As Altium’s profit and cash flow rise, it’s able to deliver higher payouts to shareholders. For long-term holders, the growth means the dividends received are becoming pretty sizeable.

In FY22, the full-year dividend increased by 18% to 47 cents per share.

This is an attractive feature because it shows the ASX 200 tech share’s leadership is thinking about shareholders.

Another thing I’m keeping in mind is that if I were to sell right now, I would end up giving a sizeable amount of the returns over to tax. So for me personally, it would be better to allow my Altium shares to keep compounding, especially considering the growth outlook still looks good, in my opinion.

Altium share price snapshot

Altium shares have risen 18% in the last month. Zooming out, we see shares in the tech company have lifted around 20% over the past 12 months.

The post Down 15% this year, why I’m not selling out of this ASX 200 tech share appeared first on The Motley Fool Australia.

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More reading

• Analysts name 3 ASX growth shares to buy next week
• Why analysts rate these ASX growth machines as buys
• Why did the Altium share price lag the ASX 200 today?
• Up 15% in a month, is ASX 200 tech share Altium on the comeback trail?
• These ASX 200 shares are going ex-dividend on Monday

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tristan Harrison has positions in Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Altium, Amazon, Apple, Microsoft, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, and Apple. 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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If you’re nearing retirement, it may be time to start focusing a little on capital preservation and income.

But which shares might be suitable? Listed below are a couple of shares that could be good options for a well-balanced retirement portfolio. Here’s what analysts are saying about them:

Lifestyle Communities Limited (ASX: LIC)

The first ASX share that could be a good option for a retirement portfolio is Lifestyle Communities.

It builds, owns, and operates land lease communities which provide affordable housing options to Australians over 50.

Analysts at Goldman Sachs are very positive on the company. This is due to strengthening demand for land lease options which is being driven by Australians increasingly looking to enhance retirement by releasing equity from the family home. They commented:

Over the medium-term, LIC’s accelerating development pipeline, growing rental/DMF revenues, and favorable exposure to more affordable markets should underpin an EPS CAGR of 21% over FY22-25 in our view.

Goldman Sachs has a conviction buy rating and $25.75 price target on the company’s shares. The broker is also expecting a growing income stream for investors. Though, at this stage, the yields are expected to start at ~1% in FY 2023.

Suncorp Group Ltd (ASX: SUN)

Another ASX share that could be worth considering for a retirement portfolio is Suncorp.

It is one of Australia’s leading insurance and banking (for the time being) companies. As well as the eponymous Suncorp brand, it also owns the AAMI, Apia, Bingle, GIO, Shannons, and Vero brands.

The team at Morgans are positive on Suncorp. They were pleased with its performance in FY 2022 and believe its shares are “inexpensive” at the current level. It has an add rating and $13.70 price target on its shares. The broker said:

We would describe this result as a broadly solid underlying performance, with good 2H22 GWP growth and GI underlying margin expansion. […] We lift our SUN FY23F/FY24F EPS by ~5% mainly on higher GWP growth expectations in future years. Our SOTP valuation falls to $13.70 reflecting SUN’s lower excess capital level. ADD maintained, we see SUN as inexpensive trading on ~12x FY23F PE and a 6% dividend yield.

As mentioned above, Morgans is expecting generous yields in the near term. It is forecasting fully franked dividends per share of 69.4 cents in FY 2023 and 77 cents in FY 2024. Based on the current Suncorp share price of $10.88, this will mean yields of 6.4% and 7.1%, respectively.

The post Analysts name 2 quality ASX shares to buy for a retirement portfolio appeared first on The Motley Fool Australia.

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More reading

• The Suncorp share price has dived 8% since ANZ’s takeover bid. What’s happening?
• Here are 5 ASX 200 shares going ex-dividend tomorrow
• Why has the Suncorp share price been struggling in August?
• Can ANZ’s latest acquisition help it catch up to the other ASX 200 bank shares?
• Lifestyle Communities share price seesaws on FY22 results after ‘unusual’ year

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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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It has now been four months since the AVZ Minerals Ltd (ASX: AVZ) share price has been seen in action.

The embattled lithium developer’s shares have been suspended while it sorts out an ownership dispute.

When will the AVZ share price return?

As things stand, the AVZ share price is scheduled to return to trade next week on Thursday 15 September.

However, the company has been pushing back its return date periodically over the last few months. In light of this, there’s no guarantee that this will be the end of its hiatus.

Particularly given what was said in its latest update.

What’s the latest?

After the market close on Friday, AVZ put out an update on the arbitration proceedings in the International Chamber of Commerce in Paris (ICC) instigated by Jin Cheng Mining Company.

According to the release, the ICC has informed the two parties that it has appointed a sole arbitrator.

AVZ and Jin Cheng will be convened to a case management conference this month with a view to setting the timetable of the arbitral proceedings and the execution of the terms of reference. The specific timing of this conference is yet to be advised to the company.

So, this could mean there will still be some time to pass before the AVZ share price reappears for trade.

Short attack

In addition, the company hit back at a short seller attack by Boatman Capital. It commented:

The Boatman Report makes a large number of false, misleading and/or deceptive statements (including through omission) regarding AVZ and its ownership in the Manono Lithium and Tin Project (Manono Project), all of which are strongly refuted. In particular, the Boatman Report falsely seeks to contend that the Company does not hold legal title to a 75% interest in the shares in Dathcom.

Investors will just have to wait for the results of the arbitration to find out AVZ’s ultimate ownership.

The post What’s going on with the AVZ share price? appeared first on The Motley Fool Australia.

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• 5 ASX 200 lithium shares with the lowest levels of debt
• Why is the AVZ Minerals share price making news on Monday?
• Why these 3 ASX shares could be in for a massive boost this month
• 5 things to watch on the ASX 200 on Monday
• AVZ shares are still frozen. What’s going on?

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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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ASX growth shares are attractive potential investments if they’re able to achieve solid compounding growth over the long term. I think September could be a good time to buy shares because of the volatility and lower prices that we’re seeing.

Uncertainty has increased amid higher inflation and rising interest rates. Investors have pushed down the values of share prices.

With much cheaper prices, I think it’s definitely worth considering some of these names that are benefiting from revenue and scale growth. Here are two to consider:

Adore Beauty Group Ltd (ASX: ABY)

Adore Beauty is a leading e-commerce business that sells more than 12,000 products from a diverse portfolio of more than 270 brands.

The business has been growing at a solid pace for a number of years. FY22 revenue rose 11% to $200 million and it was up 65% compared to FY20. The company put this growth down to “valuable returning customers with higher average order values”. Returning customers rose 31% to 472,000 and 115% up on FY20. Returning customers contributed 70% of all revenue, up from 62% in FY21. Its mobile app contributed 11% of total revenue.

I think the business has plenty of growth potential because of the steady shift from beauty product retail buying to online shopping, where Adore Beauty is the leader. Margins can rise over the long-term as Adore Beauty manages to connect with more customers through its free channels such as podcasts and its loyalty program. Scale will also naturally help profitability in the coming years.

Another positive for the ASX growth share is the launch of the first owned brand called Viviology — private brands can achieve higher margins.

While short-term revenue may be volatile, I think it’s encouraging that the company expects to return to double-digit revenue growth in the second half of FY23.

Betashares Global Cybersecurity ETF (ASX: HACK)

This is an exchange-traded fund (ETF) which is tapping into a very interesting theme. The world is getting increasingly complex and digital. It’s very important that governments protect their citizens’ information and that businesses protect customer details.

But, cybercrime is growing as well. As an example, the Australian Cyber Security Centre (ACSC) reported that in FY21, it received more than 67,500 cybercrime reports, an increase of nearly 13% from the previous financial year. The ACSC said:

The increasing frequency of cybercriminal activity is compounded by the increased complexity and sophistication of their operations. The accessibility of cybercrime services – such as ransomware-as-a-service (RaaS) – via the dark web increasingly opens the market to a growing number of malicious actors without significant technical expertise and without significant financial investment.

This is where cyber defence businesses come in. There is a group of businesses that are dedicated to protecting organisations and individuals from cybercrime.

The Betashares Global Cybersecurity ETF gives investors access to a portfolio of cybersecurity businesses from across the world, including: Crowdstrike, Cloudflare, Palo Alto Networks, Zscaler, Cisco Systems, Booz Allen Hamilton, SentinelOne, Verisign, and Cyberark Software.

The ASX growth share has managed net returns per annum of 14.9% per annum over the prior three years. While past performance is definitely not a guarantee of future returns, I think it shows how well the underlying businesses have been performing. The sector is expected to grow from US$137.6 billion in 2017 to US$248.3 billion in 2023, according to Statista.

The post I rate these top ASX growth shares as buys in September appeared first on The Motley Fool Australia.

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More reading

• 2 popular ETFs that could be buys for ASX investors
• Why I’d buy these 2 ASX ETFs right now
• 3 fantastic ETFs for ASX investors to buy today
• ASX dividend windfall continues but it’s not just Woodside and ASX 200 energy stocks splashing the big cash
• Adore Beauty share price plunges 7% despite profit boost

Motley Fool contributor Tristan Harrison 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 BETA CYBER ETF UNITS, Cisco Systems, Cloudflare, Inc., CrowdStrike Holdings, Inc., Palo Alto Networks, VeriSign, and Zscaler. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia has positions in and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended Adore Beauty Group Limited and CrowdStrike Holdings, Inc. 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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There are a lot of shares to choose from on the Australian share market. To narrow things down, the team at Morgans have picked out a few of their best ideas.

Two that are among this list are named below. Here’s why these ASX shares are rated as buys:

IDP Education Ltd (ASX: IEL)

Morgans is a fan of this student placement and language testing company. After a stellar performance in FY 2022, the broker is expecting more of the same in FY 2023 and in the years to come. This is being underpinned by structural demand and acquisitions.

The broker currently has an add rating and $28.16 price target on IDP Education’s shares. It commented:

IEL’s recovery (Australia Student Placement) and momentum (other divisions) support the strong growth expected in FY23. Structural demand, market share gains, technology-led client retention, operating leverage and acquisitions (especially IELTs distribution) can see IEL compound growth long-term. Value has emerged, however IEL’s near-term multiples see the stock susceptible to short-term volatility.

Incitec Pivot Ltd (ASX: IPL)

Another ASX share that Morgans is urging investors to buy is Incitec Pivot. It is a manufacturer and distributor of industrial explosives, industrial chemicals, and fertilisers to the agriculture and mining industries.

Morgans believes the company is well-placed to benefit from high fertiliser prices and the economic recovery. It also sees potential value creation from its demerger plans.

The broker has an add rating and $3.78 price target on the company’s shares. It said:

With fertiliser prices holding at historically high levels and possibly moving higher over coming months given Russia’s invasion of the Ukraine, which is increasing gas prices, soft commodity prices and impacting fertiliser supply chains, the fundamentals for IPL are very positive. It is also benefiting from favourable seasonal conditions in Australia. It also has strong exposure to an economic recovery through its explosives business (solid demand for resources and Q&C will benefit from US stimulus packages). IPL believes that its demerger plans of its Fertilisers (Incitec Pivot Fertilisers) and Explosives (Dyno Nobel) businesses to create two separately listed companies on the ASX will create further value for shareholders.

The post 2 ASX 200 shares named as buys by a top broker appeared first on The Motley Fool Australia.

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More reading

• 2 ASX shares that look expensive but have years of growth ahead: QVG Capital
• Are Incitec Pivot shares set for a demerger?
• Why Breville, Incitec Pivot, Magellan, and Super Retail shares are dropping
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• These 9 ASX 200 shares are going ex-dividend tomorrow

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 Idp Education Pty Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Exchange-traded funds (ETFs) can be a really useful way to gain the benefits of diversification. They can also be used to gain targeted exposure to certain areas of the market such as technology through tech ETFs.

While the S&P/ASX 200 Index (ASX: XJO) may not have much technology exposure, it’s possible to significantly increase tech exposure by investing in some funds that are designed to follow an index based on video gaming or cloud computing businesses.

Those are the two types of tech ETFs I’m going to write about in this article. They both have promising futures, in my opinion.

Betashares Cloud Computing ETF (ASX: CLDD)

As the name suggests, this EFT is focused on cloud computing businesses.

What that specifically means is that businesses in this portfolio must have a minimum threshold share of revenue from cloud computing services. The ETF’s index is constructed so that it prioritises companies that generate the majority of their revenues from cloud-based services, according to BetaShares.

The fund manager has outlined the positive trend that cloud computing businesses are exposed to:

Cloud computing has been one of the strongest-growing segments of the technology sector, and given much of the world’s digital data and software applications are still maintained outside the cloud, continued strong growth has been forecast.

At 8 September 2022, these are some of the big names in the portfolio: Netflix, Paycom Software, DigitalOcean, Qualys, Dropbox, SPS Commerce, Akamai Technologies, Salesforce.com, Wix.com and Box.

2022 has been rough. The Betashares Cloud Computing ETF has dropped by 34% since the start of the year, enabling us to invest at what I see as a much cheaper and more attractive price.

VanEck Video Gaming and Esports ETF (ASX: ESPO)

The video gaming sector is another area that has seen quite a lot of growth over the last decade.

Video gaming has been around for decades, but there has been a significant increase in gamers in the last few years. E-sports, in particular, has been growing in popularity, which is a key reason why I like this tech ETF.

According to VanEck, the competitive video gaming audience is expected to reach 646 million people globally in 2023, thanks partly to the increasing number of people using the internet.

E-sports revenue has reportedly increased by an average of 28% per annum since 2015. VanEck said that e-sports had created new potential revenue streams from game publisher fees, media rights, merchandise, ticket sales and advertising.

There are a total of 25 holdings in the portfolio. At the moment, these are the biggest positions in the portfolio: Activision Blizzard, Tencent, Nvidia, Roblox, Advanced Micro Devices, Nintendo, Netease.com, Electronics Arts and Bandai Namco.

The VanEck Video Gaming and Esports ETF has seen a 27.6% decline in value in 2022.

Foolish takeaway

I like the look of both of these tech ETFs because the underlying businesses are seeing revenue growth, growing globally, and now they’re a lot cheaper. This is why I’d happily buy some right now.

The post 2 tech ETFs I think are smart buys in September appeared first on The Motley Fool Australia.

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More reading

• Why I’d buy these 2 ASX ETFs right now
• 3 fantastic ETFs for ASX investors to buy today
• 3 quality ETFs for ASX investors in September
• 3 high quality ETFs for ASX investors to buy now
• 3 top ETFs for ASX investors to buy next week

Motley Fool contributor Tristan Harrison 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 Activision Blizzard, Advanced Micro Devices, DigitalOcean Holdings, Inc., Netflix, Nvidia, Paycom Software, Roblox Corporation, Salesforce, Inc., Tencent Holdings, and Wix.com. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Electronic Arts, NetEase, and Nintendo. The Motley Fool Australia has recommended Activision Blizzard, DigitalOcean Holdings, Inc., Netflix, Nvidia, Paycom Software, Salesforce, Inc., and VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF. 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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Thankfully for income investors, there are a lot of dividend shares to choose from on the Australian share market.

To narrow things down, listed below are two ASX dividend shares that experts have recently named as buys. Here’s what you need to know about them:

National Storage REIT (ASX: NSR)

National Storage could be a dividend share to buy. It is a leading self-storage operator with over 225 centres providing tailored storage solutions to over 90,000 residential and commercial customers across the ANZ region.

The company has been growing its earnings at a solid rate over the last decade thanks to a combination of organic growth and acquisitions. And while 225 centres may sound like a large number, management still sees plenty of room to grow in a highly fragmented market. It has also been redeveloping existing sites, providing significant value add potential.

Ord Minnett is a fan of the company and has a buy rating and $2.70 price target on its shares.

In respect to dividends, its analysts are forecasting dividends per share of 11 cents in FY 2023 and FY 2024. Based on the current National Storage share price of $2.47, this equates to yields of 4.45%.

Telstra Corporation Ltd (ASX: TLS)

Another ASX dividend share that could be worth considering is Telstra. It is of course Australia’s largest telecommunications company.

After several long years of struggles, Telstra now has growth back on the agenda. And not just modest growth. With its T25 strategy, it is targeting high-teens underlying earnings per share compound annual growth rates from FY 2021 to FY 2025.

This could bode well for its dividend, which was increased for the first time in years in August to 16.5 cents per share.

Ord Minnett is also a fan of Telstra. It currently has a buy rating and a $4.60 price target on the company’s shares.

Positively, the broker is expecting some generous and growing dividends from its shares in the coming years. It is forecasting fully franked dividends per share of 17 cents in FY 2023 and 19 cents FY 2024. Based on the latest Telstra share price of $3.92, this will mean yields of 4.3% and 4.8%, respectively, for investors.

The post Experts name 2 excellent ASX dividend shares to buy next week appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. 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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Are you looking to add some growth shares to your portfolio when the market reopens?

If you are, three ASX growth shares that could be worth considering are listed below. Here’s what you need to know about them:

Altium Limited (ASX: ALU)

The first ASX growth share to look at is Altium. It is an an industry-leading printed circuit board (PCB) design software provider. Thanks to its dominant position in the market, management is very confident in its outlook. So much so, it is aiming to more than double its revenue to US$500 million by 2026.

Jefferies is positive on the company. It currently has a buy rating and $38.13 price target on its shares. However, with Altium’s shares trading within sight of this target, investors may want to wait for a pullback before considering an investment.

Aristocrat Leisure Limited (ASX: ALL)

Another ASX growth share to consider is Aristocrat Leisure. It is one of the world’s leading gaming technology companies with a portfolio filled to the brim with popular pokie machine and digital games. The latter, which includes games such as Cashman Casino, Gummy Drop, and RAID, have ~20 million monthly active users. This is underpinning significant recurring revenues. The company is also undertaking a major share buyback and looking to expand into the real money gaming market.

Citi is a fan of the company. It has a buy rating and $41.00 price target on its shares.

NextDC Ltd (ASX: NXT)

A final growth share to look at is NextDC. It is a leading data centre operator with a collection of world class centres across key locations throughout Australia. But NextDc isn’t settling for that. It is also building more centres in key locations, growing its network with edge centres in regional areas, and looking to expand overseas. Overall, this appears to have positioned NextDC perfectly in a market benefiting from the structural shift to the cloud.

Goldman Sachs is bullish on the company’s outlook. The broker has a buy rating and $14.20 price target on its shares.

The post Analysts name 3 ASX growth shares to buy next week appeared first on The Motley Fool Australia.

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More reading

• 2 ASX growth shares that analysts say have 40%+ upside
• Top brokers name 3 ASX shares to buy today
• Fundie reveals the 2 ASX shares he’d buy and hold for 4 years
• Morgans names 3 more of the best ASX shares to buy in September
• 2 discounted ASX shares I’d buy now and one I wouldn’t touch: expert

Motley Fool contributor James Mickleboro has positions in NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Wanting to make some new additions to your portfolio? Then you may want to check out the two shares listed below that analysts at Morgans have on their best ideas list.

Here’s why its analysts are bullish on these ASX shares:

Corporate Travel Management Ltd (ASX: CTD)

If you’re wanting exposure to the travel sector, then Morgans thinks that this corporate travel specialist is the way to do it. The broker believes it is well-placed for growth over the medium term thanks to acquisitions, its lower cost base, and technology development.

Its analysts currently have an add rating and $25.65 price target on Corporate Travel Management’s shares. Morgans commented:

CTD is our key pick of the travel sector. For investors that can take a medium-term view, we see substantial upside in its share price as the company recovers from the COVID-affected travel downturn. In fact, CTD should be a materially larger business post COVID given it has made two highly accretive acquisitions during the downturn. The company has also won a lot of new business, implemented structural cost-out opportunities and continued to develop its market-leading technology offering which means it will require less staff in the future. CTD is well managed and has a strong balance sheet (no debt).

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another ASX share that the broker is bullish on is pizza chain operator Domino’s. Morgans is positive on the company due largely to its store rollout plans. It notes that these plans will see the company double its network in existing markets over the next decade. It is worth highlighting also that the company has recently acquired its way into new markets that are not reflected in this forecast.

Morgans has an add rating and $90.00 price target on Domino’s shares. It said:

DMP is the largest Domino’s franchisee outside the US and one of the largest quick-service restaurant companies in the world. It is an affordable option that has performed well historically even in times of inflation or slower economic growth. The engine of DMP’s growth is its ability to roll out new stores all over the world. It added 438 stores to its global network in the year to June 2022, a pace of expansion that we forecast to accelerate to nearly 600 in FY23. This will take the total to almost 4,000 stores, up fourfold over a ten-year period. Over the next ten years, DMP expects to grow organically to 7,250 stores in the 13 countries in which it currently operates. This means DMP expects to more than double in size again by 2033, not including any future acquisitions.

The post 2 of the best ASX shares to buy now according to Morgans appeared first on The Motley Fool Australia.

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More reading

• Morgans tips Domino’s shares to deliver 50% return
• $20,000 invested in these ASX shares 10 years ago is worth how much now?
• These ASX 200 shares are going ex-dividend on Monday
• Reason for hope as ‘worst month of the year’ starts off badly
• Here are 3 ASX 200 shares trading ex-dividend 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Corporate Travel Management Limited and Dominos Pizza Enterprises Limited. 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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