Growth investing has its risks but also has its rewards.
In fact, as I mentioned here earlier, buying some ASX shares can make you very rich.
But which ones could do the same in the future? Let's have a look at two ASX growth shares that analysts rate highly:
CSL Limited (ASX: CSL)
Last week, Goldman Sachs upgraded this biotherapeutics company's shares to a buy rating with a $309 price target. It believes that the company is about to enter a period that could be very rewarding for shareholders. It said:
CSL is now entering a period of more capital-efficient growth, driving a sharp improvement in our ROIC forecast (+460bps by FY27E). This positive inflection also coincides with a period of historically-high earnings growth (+14% CAGR FY23-27E), which serves to amplify those incremental returns to shareholders.
Lovisa Holdings Ltd (ASX: LOV)
Another ASX growth share that could have the potential to generate big returns for investors over the long term is fashion jewellery retailer Lovisa.
That's the view of analysts at Morgans which have an add rating and a $27.50 price target on its shares. The broker believes Lovisa's store expansion plans could make it one of the biggest success stories in Australian retail. It recently said:
LOV continues to impress us with the rate at which it opens new stores and expands into new markets. As we have said before, LOV may just prove to be one of the biggest success stories in Australian retail. LOV is showing every sign of becoming a global brand. Investment will be needed to expand LOV's network in the US and Europe and to take it into new markets, but the company has the balance sheet capacity to fund this and the returns could be stellar.
