Insights

2 ASX growth shares to buy for big returns

CSL Limited (ASX:CSL) and this ASX growth share could be the ones to buy for big returns in the future…
The post 2 ASX growth shares to buy for big returns appeared first on The Motley Fool Australia. –

A woman holds a tape measure against a wall painted with the word BIG, indicating a surge in gowth shares

If you’re a growth investor then you’re in luck. This is because the Australian share market is home to a large number of quality shares that have the potential to grow strongly in the coming years.

Two top growth shares that have been tipped as buys are listed below. Here’s why they are highly rated:

CSL Limited (ASX: CSL)

The first share to look at is CSL. It is one of the world’s leading biotherapeutics companies and home to the high quality CSL Behring and Seqirus businesses.

CSL Behring is the global leader in plasma therapies, whereas Seqirus is the second largest influenza vaccines business. Both have been growing at a solid rate in recent years and have been tipped to continue this trend in the future thanks to their leading therapies and lucrative research and development pipelines.

In respect to the latter, CSL’s pipeline contains a number of highly promising products that have the potential to generate significant revenues in the future. One of those is clazakizumab, which is being developed to treat kidney transplant rejection. This product alone could generate peak sales of US$5.4 billion eventually.

UBS recently retained its buy rating and $346.00 price target on CSL’s shares. This compares very favourably to the latest CSL share price of $274.60.

Nearmap Ltd (ASX: NEA)

Another ASX share to look at is Nearmap. It is an aerial imagery technology and location data company with operations in the ANZ and North American market.

Its aerial imagery and data insights shift location analysis out of the field and into the office. Management notes that this gives businesses the tools to scale quickly and bring their most important initiatives to life.

Thanks to geographic expansions, new growth initiatives, and the quality of its offering, management believes the company is well-positioned for growth in the future. As a result, it is targeting annualised contract value (ACV) growth of 20% to 40% per annum over the long term, with underlying churn of less than 10%.

Analysts at Morgan Stanley are positive on the company and have an overweight rating and $3.10 price target on its shares. This compares to the current Nearmap share price of $2.17.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and Nearmap Ltd. The Motley Fool Australia has recommended Nearmap Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 ASX growth shares to buy for big returns appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!