If you're a fan of growth shares, then you may want to read on.
That's because a couple of high-quality shares with lots of growth potential have recently been named as buys.
Here's why analysts are bullish on these growth shares:
Corporate Travel Management Ltd (ASX: CTD)
The team at Morgans believes that this corporate travel booker could be an ASX growth share to buy.
The broker feels that Corporate Travel Management is in a strong position after making big changes during the pandemic. This includes reducing its cost base, making two great acquisitions, and building on its technology advantage. It said:
CTD should be a materially larger business post COVID given it has made two highly accretive acquisitions during the downturn. The company has also won a lot of new business, implemented structural cost-out opportunities and continued to develop its market-leading technology.
Morgans has an add rating and a $24 price target on its shares.
NextDC Ltd (ASX: NXT)
Over at Goldman Sachs, its analysts think that NextDC could be an ASX growth share to buy.
NextDC provides colocation services to local and international organisations from its growing portfolio of world-class data centre facilities across Australia. It is also currently in the process of expanding into the Asia-Pacific.
Goldman believes the company is well-placed to deliver growth ahead of the market's expectations thanks to strong demand for data centre capacity. It said:
We reiterate out above consensus expectations for NXT contracted MW wins into FY25/26E, noting our forecast of +28/37MW wins (incl. +9MW in Malaysia/NZ in FY26) is ahead of consensus expectations which imply a period of digestion (+17/23MW) following +37MW announced in FY23TD. This drives our FY25/26E EBITDA +2% vs. Visible Alpha Consensus Data, noting we expect longer dated ramp of contracts going forward (shift from contracted to billing), consistent with recent announcements.
Goldman Sachs has a buy rating and a $14.96 price target on its shares.
