If you have a penchant for growth shares like I do, then it could be worth considering the three ASX growth shares listed below.
Here's what you need to know about these buy-rated shares:
Objective Corporation Limited (ASX: OCL)
The first ASX growth share that has been named as a buy is Objective Corp. It is a software company that provides content, collaboration, and process management solutions to the public sector. During the first-half of FY 2023, Objective Corp reported a 12% increase in annual recurring revenue and a 6% lift in net profit. Pleasingly, Goldman Sachs expects its growth to accelerate in the coming years thanks to strong demand in a defensive sector. Its analysts are forecasting earnings per share growth above 20% in both FY 2024 and FY 2025.
Goldman has a buy rating and a $14.90 price target on Objective Corp's shares. This implies a potential upside of 13%.
Pilbara Minerals Ltd (ASX: PLS)
Another ASX growth share that could be a buy is Pilbara Minerals. It is the lithium miner behind the world-class Pilgangoora Project in Western Australia. Thanks to prices being significantly higher than the cost of production and its production expansion plans, analysts at Macquarie are forecasting big earnings and dividends over the medium term.
As a result, Macquarie has put an outperform rating and $7.30 price target on its shares. This suggests that this ASX share could rise almost 50%.
Treasury Wine Estates Ltd (ASX: TWE)
A final ASX growth share that has been named as a buy is Treasury Wine. It is the wine giant behind a collection of popular brands. One of those is Penfolds, which Goldman Sachs believes will be a key driver of growth in the future. And despite the recent negativity around the company's performance, Goldman believes "TWE is now re-entering a growth phase with a 12% EPS CAGR and PEG of <2x which is attractive vs the rest of our consumer coverage."
It has a buy rating and a $13.40 price target on Treasury Wine's shares. This suggests a potential upside of 18% for investors.
