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Analysts name 3 stellar ASX growth shares to buy

These growth shares have been named as buys by analysts…
The post Analysts name 3 stellar ASX growth shares to buy appeared first on The Motley Fool Australia. –

Investors searching for growth shares, might want to look at three named below.

Here’s why analysts rate these ASX growth shares as buys right now:

Appen Ltd (ASX: APX)

The first growth share to look at is Appen. COVID uncertainty has been weighing heavily on the shares of this leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). So much so, they have recently hit a multi-year low. While this is disappointing for shareholders, it could be a buying opportunity for non-shareholders. Especially given how the team at Citi remains confident on the company’s future and expects demand to pick up. Citi currently has a buy rating and $18.80 price target on the company’s shares.

Cochlear Limited (ASX: COH)

Another ASX growth share to look at is Cochlear. It is one of the world’s leading hearing solutions companies. It has bounced back strongly from the pandemic and delivered a strong full year result in August. And while the near term will still be somewhat challenging because of COVID, the long term remains very positive. This is due to the ageing populations tailwind and its industry leading products. Macquarie is very positive on Cochlear’s long term outlook. It has an outperform rating and $256.00 price target on its shares.

NEXTDC Ltd (ASX: NXT)

A final growth share to look at is NEXTDC. This leading data centre operator has been growing strongly for a number of years thanks to strong demand for data centre capacity. And with the structural shift to the cloud still having some way to go, this demand looks likely to remain elevated over the medium term. Citi is a fan and currently has a buy rating and $15.40 price target on NEXTDC’s shares.

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

Should you invest $1,000 in NEXTDC right now?

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More reading

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How have the WAAAX shares performed so far this year?

Why is the NextDC (ASX:NXT) share price down 11% so far this week?
ASX 200 tech correction? 5 of the worst-hit shares

Why these 3 ASX shares all hit 52-week lows today

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd and Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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