If you're a fan of growth shares like I am, then I have good news for you.
A couple of high-quality shares with bags of growth potential and major upside potential have recently been named as buys.
Here's why brokers are feeling bullish about them right now:
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Corporate Travel Management Ltd (ASX: CTD)
Morgans is bullish on this corporate travel booker and has named it as an ASX growth share to buy.
The broker believes Corporate Travel Management is well-placed for growth over the medium term thanks to acquisitions, its lower cost base, and technology development. It has previously highlighted:
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 $23.20 price target on its shares. This implies over 20% upside from current levels.
Xero Limited (ASX: XRO)
Another ASX growth share that has been named as a buy is Xero. It provides a platform for online accounting and business services to small businesses across the globe.
Goldman Sachs remains very positive on the company and believes it is well-placed to grow into its massive market opportunity over the long term. It commented:
We see Xero as very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$76bn TAM.
Goldman Sachs currently has a buy rating and a $141 price target on its shares. This suggests a potential upside of 40% for investors.
