3 ASX growth shares brokers rate as buys right now

These growth shares could be quality options…

| More on:
stack of wooden blocks with '1, 2, 3' written on them

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you’re looking for some new growth shares to buy, then it could be worth considering the three ASX shares listed below.

Here’s what you need to know about these highly rated growth shares:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX growth share to look at is this pizza chain operator. Domino’s could be a top option for investors after a significant pullback in its share price. Especially those that are willing to make a long term investment. This is due to the company’s bold expansion plans, which sees it aiming to more than double its network by FY 2033. It also has the balance sheet strength to add to its network, extending its market opportunity further. Morgans is very positive on Domino’s and believes “there is meaningful upside to the current share price over the next 12 months.”

Morgans has an add rating and $100.00 price target on its shares.

Lovisa Holdings Limited (ASX: LOV)

Another ASX growth share to look at is Lovisa. It is a fast-fashion jewellery retailer with a growing global store network. Morgans is very positive on the company and has even suggested that it could “prove to be one of the biggest success stories in Australian retail.” The broker sees a huge opportunity for Lovisa to expand internationally and appears confident that it has the management team to execute on this.

Morgans currently has an add rating and $24.00 price target on its shares.

Megaport Ltd (ASX: MP1)

A final growth share to look at is this global leading provider of elastic interconnection services. It has been growing at a rapid rate over the last few years thanks to increasing demand as the structural shift to the cloud continues. Analysts at Goldman Sachs are tipping this strong form to continue. It believes Megaport’s “opportunity for further growth is immense (GSe A$129bn p.a. spent on fixed enterprise networking across MP1 geographies).”

Goldman has a buy rating and $13.10 price target on its 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 MEGAPORT FPO. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited, Lovisa Holdings Ltd, and MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Growth Shares

a man and a woman sitting in a technology related work environment high five each other while the man wears headphones around his heck and the woman sits in front of a laptop.
Growth Shares

Revenue up 169%: 2 ASX tech shares showing explosive growth

Growth stocks have roared back the past few weeks. Here is a couple that Cyan fund managers think can go…

Read more »

A young man with short black fuzzy hair and wearing a black and white striped t-shirt looks surprised at a broker's tip that Macquarie shares will rise by 30%
Growth Shares

Broker names 2 ASX growth shares to buy this week

Bell Potter thinks these growth shares could be buys...

Read more »

A young bearded man wearing a white t-shirt with a yellow backdrop holds up his arms to his chest and points to the camera in celebration of ASX shares rising today
Growth Shares

Here are 3 top ASX growth shares that experts are tipping as buys

These top growth shares are rated as buys...

Read more »

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Growth Shares

Experts name 2 ASX 200 shares to buy next week

These ASX 200 shares could be buys according to analysts...

Read more »

A xouple consider the pros and cons of taking out a loan
Growth Shares

Experts name 2 ASX growth shares to buy when the market reopens

These growth shares have been tipped as buys...

Read more »

a man sits in casual clothes in front of a computer amid graphic images of data superimposed on the image, as though he is engaged in IT or hacking activities.
Growth Shares

2 exciting ASX tech shares to buy now according to analysts

Here are two tech shares that could be buys...

Read more »

A man and woman playing video games.
Growth Shares

Why I think it’s time to load up on these 2 ASX shares

2022 looks like a good year for buying assets.

Read more »

A man sees some good news on his phone and gives a little cheer.
Growth Shares

2 excellent ASX growth shares to buy now according to brokers

Check out these excellent ASX growth shares...

Read more »