There are plenty of options for growth investors to choose from on the Australian share market.
But which ASX growth shares could be buys in January?
Two that are highly rated by analysts at present are listed below. Here's what they are saying about them:
Aristocrat Leisure Limited (ASX: ALL)
Analysts at Morgans have this gaming technology company on their best ideas list.
The broker has picked out three key reasons why it could be an ASX growth share to buy right now. It explains:
(1) long-term organic growth potential. ALL is better capitalised than many of its competitors and has what we regard as a strong platform to continue investment in design and development in both its landbased gaming and digital businesses; (2) strong cash conversion and ROCE. ALL is a capital-light business despite its ongoing investment in Gaming Operations capex and working capital. It has a high level of cash conversion and ROCE; and (3) strong platform for investment. ALL has funding capacity for organic and inorganic investment in online RMG, even after the recent buyback. Its current available liquidity is $3.8bn.
Morgans has an add rating and a $45 price target on its shares, which implies a potential upside of 11%.
Cettire Ltd (ASX: CTT)
Over at Bell Potter, its analysts are tipping this online luxury retailer as an ASX growth share to buy.
The broker rates Cettire highly due to its scalable proprietary technology platform and high degree of automation. It also notes that the company has only a tiny slice of a massive global market, which gives it a long runway for growth. It commented:
Cettire has a rapidly growing global online luxury personal goods retailing platform in a large market with a structural shift to online well underway. We believe CTT will continue to outperform its peer group consisting of global luxury retailers and local e-commerce players given its <1% market share in a growing market, which could remain more resilient than other discretionary categories in a likely recessionary environment.
Bell Potter has a buy rating and a $4 price target. This suggests that its shares could rise 45% over the next 12 months.