Insights

Experts name 2 ASX growth shares to buy with double-digit upside potential

Here are two ASX growth shares named as buys…
The post Experts name 2 ASX growth shares to buy with double-digit upside potential appeared first on The Motley Fool Australia. –

Do you have room for a growth share or two in your portfolio? If the answer is yes, then it could be worth considering the two listed below.

Here’s why these ASX growth shares have been rated as buys by experts:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX growth share that could be a buy is Aristocrat. It is a gaming technology company with a portfolio of hugely popular poker machines and digital games.

In respect to the latter, the company’s digital business, Pixel United, is the developer of popular games such as Raid: Shadow Legends, Heart of Vegas, Mech Arena, and Vikings: War of Clans. These are generating significant recurring revenues from their millions of daily active users.

Analysts at Citi are very positive on Aristocrat and believe it is well-placed for growth. Citi commented:

Aristocrat represents a compelling long-term growth story, with exposure to ongoing growth in mobile game penetration and potential to grow into new markets.

The broker currently has a buy rating and $41.00 price target on the company’s shares. Based on the current Aristocrat share price of $35.30, this suggests potential upside of 16% for investors.

Lovisa Holdings Limited (ASX: LOV)

Another ASX growth share that could be in the buy zone is fashion jewellery retailer Lovisa.

After dominating the Australian market, the company has now set its sights on the globe. And with a well-incentivised management team that have been there and done that before with other brands, analysts are tipping the company for incredible growth over the 2020s.

One of those brokers is Morgans, which sees a huge opportunity for Lovisa in the massive US market. It explained:

Lovisa’s global footprint now spans 22 countries. In our opinion, investors can expect this number to increase steadily while, at the same time, Lovisa builds out its presence in its existing markets. We do not think there is any lack of opportunity. In the US, for example, Lovisa now has 81 stores, representing 0.25 stores for every million people), compared to Australia with 158 stores, 6.15 stores for every million people.

Morgans currently has an add rating and $21.50 price target on its shares. Based on the latest Lovisa share price of $17.80, this implies potential upside of almost 21%.

The post Experts name 2 ASX growth shares to buy with double-digit upside potential appeared first on The Motley Fool Australia.

Wondering where you should 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 over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of July 7 2022

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

Experts say these ASX tech shares would be excellent buys
Own Lovisa shares? Why this broker believes the retailer could be a ‘global force’
Why this leading broker is bullish on the Aristocrat share price
Why has the Aristocrat share price increased 17% in two months?
Here’s why analysts are tipping these ASX 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Lovisa Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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.

  • This field is for validation purposes and should be left unchanged.

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

Share With Your Friends

Rebate Rewards

Level 2 Rebate

Deposit $2,000 and get $200 Rebate
$ 200 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $2,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $200 Rebate
Popular

Level 1 Rebate

Deposit $1,000 and get $100 Rebate
$ 100 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $1,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $100 Rebate

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, 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.

EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here To Get Started
EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here For More Info