If you're a fan of growth shares, then you may want to look closely at the three shares listed below.
Here's why these growth shares have been rated as buys:
Adore Beauty Group Limited (ASX: ABY)
The first ASX growth share to look at is Adore Beauty. It is a leading online retailer in the $11.2 billion Australian beauty and personal care (BPC) market. It currently has almost 1 million active customers and generated revenue of $63.8 million during the first quarter. When annualised, this represents just a 2.3% share of a market that is still in the early days of its shift online. UBS is a fan of the company and currently has a buy rating and $6.00 price target on its shares.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Another growth share to look at is Domino's. It is one of the world's largest pizza chain operators with stores across the ANZ, Asia-Pacific, and European regions. While it has a sprawling network across these regions, management still sees scope for significant expansion over the next decade. In fact, it is aiming to more than double its network to 6,650 stores in existing markets by 2033. Combined with its track record of same store sales growth, this bodes well for its growth over the next decade. Goldman Sachs is a fan of the company. It currently has a buy rating and $136.20 price target on the company's shares.
REA Group Limited (ASX: REA)
A final ASX growth share to look at is REA Group. It is the dominant player in real estate listings in the Australian market. REA looks well-placed for growth in the coming years thanks to new revenue streams, cost cutting, price increases, and its international operations. The company has also been busy making acquisitions, which has strengthened its offering, particularly in mortgage broking. Goldman Sachs is also positive on REA. It has a buy rating and $167.00 price target on its shares.
