The good news for growth investors is that there are plenty of quality options to choose from on the Australian share market.
But which ones could be best buys in March?
Let's take a look at three ASX growth stocks that brokers rate very highly:
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IPD Group Ltd (ASX: IPG)
Bell Potter is a big fan of this distributor of electrical equipment and industrial digital technologies and sees it as an ASX growth stock to buy in March. It has the company on its preferred list with a buy rating and $5.90 price target.
Its analysts expect the company to benefit from the electrification megatrend. It said:
We view IPG as a high quality play on the electrification growth trend which is emerging as a dominant market narrative.
Treasury Wine Estates Ltd (ASX: TWE)
The team at Morgans thinks that Treasury Wine could be an ASX growth stock to buy right now. It has it on its best ideas list with an add rating and $14.03 price target on its shares.
The broker is feeling very positive about its recent acquisition of DAOU Vineyards (DAOU) for US$900 million (A$1.4 billion). It said:
While not without risk given the size of this transaction, if TWE delivers on its investment case, there is material upside to our valuation. The key near-term share price catalyst is if China removes the tariffs on Australian wine imports.
Xero Ltd (ASX: XRO)
Goldman Sachs added this cloud accounting platform provider's shares to its Asia-Pacific conviction list this month. The broker has a buy rating and $152.00 price target on its shares.
Its analyst "is positive on the company's outlook given accelerating product pipeline and strong management team to capture overseas market share while balancing profitability."
