If you’re looking for growth shares, then look no further. Listed below are two ASX growth shares which have been tipped for strong growth in the future.
Here’s why analysts have rated them as buys:
Dicker Data Ltd (ASX: DDR)
The first growth share to look at is Dicker Data. It is a leading technology hardware, software, and cloud distributor with over 44 years of experience and over 8,000 reseller partners across the ANZ region. From its new state of the art distribution centre, the company distributes a wide portfolio of products from the world’s leading technology vendors. This includes Cisco, Citrix, Dell Technologies, Hewlett Packard Enterprise, HP, Lenovo, Microsoft, and other Tier 1 global brands.
The team at Morgan Stanley is very positive on Dicker Data’s outlook thanks to ongoing industry tailwinds. As a result, it recently commenced coverage on the company with an overweight rating and $16.00 price target.
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. At the end of the first half, the company had a total of approximately 3,200 stores across its network. While this is a large number, management still sees plenty of expansion opportunities. In fact, it is aiming to double its store network in existing markets by 2033. It also has the balance sheet capacity to expand into other markets through acquisitions.
Morgans is bullish on the company. It currently has an add rating and $115.00 price target on Domino’s shares. It said: “DMP remains a growth story. It has a platform to deliver a positive trajectory of sales and earnings as its store rollout strategy continues and network efficiencies increase.”