Are you looking to add some growth shares to your portfolio when the market reopens?
If you are, three ASX growth shares that could be worth considering are listed below. Here's what you need to know about them:
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Allkem Ltd (ASX: AKE)
The first ASX growth share to consider is Allkem. It is one of the world's largest lithium miners with projects in Argentina, Australia, and North America. From these projects, the company is aiming to grow its production in a manner that allows it to maintain a 10% share of global lithium supply over the long term. And with lithium prices at such high levels and tipped to remain strong in the coming years due to demand outstripping supply, Allkem appears well-placed to grow its earnings and potentially start paying dividends.
Macquarie's analysts are bullish on Allkem and have an outperform rating and $21.00 price target on its shares.
Aristocrat Leisure Limited (ASX: ALL)
Another ASX growth share that has been tipped as a buy is Aristocrat Leisure. It is one of the world's leading gaming technology companies with a portfolio of world class pokie machines and a growing digital business. The former continues to win market share thanks to their popularity with casinos and players. Combined with the strong recurring revenues being generated by digital/mobile games such as Raid and its potential expansion into the real money gaming market, the company has been tipped to continue its solid earnings growth over the coming years.
Morgans is positive on the company and has an add rating and $43.00 price target on its shares.
ResMed Inc. (ASX: RMD)
A third and final growth share that has been named as a buy is ResMed. It is a sleep treatment-focused medical device company that has been tipped to continue its strong growth over the coming years. This is thanks to its world class product portfolio, a major competitor recall, and its massive global market opportunity. In respect to the latter, management estimates that there are 1 billion people impacted by sleep apnoea worldwide, with only ~20% of these sufferers currently diagnosed. As education around sleep disorders grows and more sufferers are diagnosed, demand for ResMed's products is likely to increase.
Goldman Sachs is bullish on ResMed and has a buy rating and $36.80 price target on its shares.
