If you're a growth investor then you won't want to miss out on the two ASX growth shares listed below.
That's because these high-quality shares have been tipped as buys with major upside potential. Here's what you need to know about them:
Webjet Limited (ASX: WEB)
The first ASX growth share that could be a buy is online travel booking company Webjet.
The team at Goldman Sachs is feeling very positive about the company and believes its WebBeds business is well-positioned for long-term growth. It explains:
We believe WEB's Bedbanks business offers a structural growth opportunity and expect it to drive scale benefits, underpinned by system changes and ERP upgrades as WEB goes through the recovery cycle.
And with its shares falling heavily in recent months, the broker believes that now is the time to invest.
So much so, that its analysts have recently upgraded Webjet's shares to a buy rating with an $8.30 price target. This implies a potential upside of 28% from current levels.
Xero Limited (ASX: XRO)
Another ASX growth share that could be a buy is leading cloud accounting platform provider Xero.
Analysts at Citi remain very bullish on the company's outlook and believe it could surprise to the upside during the first half of FY 2024. It said:
We see potential for ANZ subs growth to surprise on the upside in the 1H result, with Xero noting that SMBs have been resilient and Xero pointing to further growth opportunities in both markets. While early in the monetisation journey, there seems to be an increased focus on increasing the attach rate of payments which we see as positive for ARPU (and stickiness) over the longer-term.
Citi currently has a buy rating and a $141.90 price target on Xero's shares. This implies an upside of ~25% for investors from current levels.
