Broker names 3 emerging ASX shares to buy now

Here are three shares to consider according to Goldman Sachs…

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Goldman Sachs has just held its annual Emerging Leaders Conference, which saw a number of promising companies making presentations.

Among those attending were the three ASX shares listed below that Goldman believes would be great investment options right now.

Here’s what it is saying about these shares:

Hipages Group Holdings Ltd (ASX: HPG)

Goldman Sachs is a big fan of this tradie platform provider. It is very positive on the ecosystem that the company is building and is tipping Hipages to win a significant market share in the future.

It said:

HPG is the leading trade services marketplace in Australia, connecting tradies with consumers for a range of home improvement jobs. The business is building out an ecosystem of adjacent services which will allow it to capture a greater share of tradie wallet, improve tradie retention and attract new tradies to the platform.

The broker currently has a buy rating and $2.50 price target on Hipages shares.

Lifestyle Communities Limited (ASX: LIC)

Another ASX share that Goldman is very positive on is Lifestyle Communities. The broker believes the retirement communities company is well-placed for growth thanks to a combination of Australia’s ageing population and structural growth in the land lease model.

It explained:

The long-term outlook for Lifestyle Communities is very positive, in our view, with outperformance of the stock to be driven by: (1) a step up in the pace of land acquisitions, with industry build rates below demand from an ageing population; (2) structural growth in demand for land lease as the sector increases its penetration among retirees; (3) fundamental valuation support for cap rates.

Goldman Sachs has a conviction buy rating and $24.50 price target on the company’s shares.

Readytech Holdings Ltd (ASX: RDY)

A final emerging ASX share that the broker thinks is a buy is Readytech. It is a growing provider of enterprise software to a number of markets.

The broker said:

RDY owns a portfolio of enterprise software businesses across several defensive market verticals including higher education, HR/payroll, work pathways and local government. RDY’s competitive position is underpinned by its focus on market niches that are under-served by both large and small enterprise software competitors.

Goldman has a buy rating and $5.00 price target on Readytech’s shares.

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 positions in and has recommended Hipages Group Holdings Ltd. and Readytech Holdings Ltd. The Motley Fool Australia has positions in and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Readytech Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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