Investors looking for ASX growth shares to buy might want to check out the two listed below.
These shares have been named as buys and tipped to climb meaningfully higher from current levels. Here's what you need to know:
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Pilbara Minerals Ltd (ASX: PLS)
The first ASX growth share to look at is Pilbara Minerals. It is one of the world's leading lithium miners and the owner of a collection of high quality assets. Its shares have been hammered recently amid concerns over falling lithium prices.
Morgans appears to see this as a buying opportunity for investors. Particularly given its belief that prices could rebound. This is because it suspects "demand in the Chinese market could increase [for lithium] from March onwards."
Morgans currently has an add rating and $4.70 price target on this lithium miner's shares.
Temple & Webster Group Ltd (ASX: TPW)
Another ASX growth share that could be in the buy zone is online furniture and homewares retailer Temple & Webster.
It operates largely through a drop-shipping model, which is complemented by a private label range sourced directly by management. This means it doesn't come with inventory risks that have crippled fellow online retailer Kogan.com Ltd (ASX: KGN) recently.
And while a softer than expected trading update with its half-year results last month has spooked the market, Goldman Sachs feels investors should take advantage of this selloff.
This is because it believes the update reflects "the lapping of omicron rather than a deterioration in underlying trends." It also notes that the company's "long term structural growth opportunity is unchanged" and continues to "forecast a 21% 10-yr EBITDA CAGR driven by consolidation of market share and growing online penetration."
Goldman Sachs has a buy rating and $6.50 price target on the company's shares.
