Are you a growth investor looking for new investments? Well, the good news is that the ASX growth shares listed below have been tipped as buys.
Here's why experts rate them highly right now:
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Allkem Ltd (ASX: AKE)
If you're not averse to investing in the resources sector and have a higher than average tolerance for risk, then it could be worth considering Allkem.
It became one of the world's largest lithium miners after Galaxy Resources and Orocobre merged in 2021. It has assets in Australia, South America, and North America.
And from these projects, Allkem has significant production capacity. In fact, management believes it can increase its production in a manner that allows it to maintain a 10% share of global lithium supply over the long term.
It is partly for this production growth, as well as its downstream optionality, that Goldman Sachs is bullish on Allkem at the same time it is bearish on the lithium industry.
Goldman has a buy rating and $15.50 price target on Allkem's shares. This implies potential upside of 23% for investors from current levels.
WiseTech Global Ltd (ASX: WTC)
Another ASX growth share that has been tipped as a buy is WiseTech.
It is the technology company behind the industry-leading logistics solutions platform, CargoWise One. This platform allows users to execute complex logistics transactions and manage freight operations.
WiseTech has been growing at a strong rate for years and appears well-placed to continue this trend in the near term. For example, management is guiding to "20%-23% revenue growth and 21%-30% EBITDA growth."
Morgan Stanley is confident on the company's outlook. As a result, it has put an overweight rating and $64.00 price target on its shares. This suggests potential upside of almost 18% for investors.
