If you have penchant for ASX growth shares then you will be pleased to know that analysts are predicting good returns from the five listed below.
Here's what you need to know about these top shares:
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Aristocrat Leisure Limited (ASX: ALL)
The first ASX growth share that could be a great pick is Aristocrat Leisure. It is one of the world's leading gaming technology companies with operations covering poker machines, real money gaming, and mobile games.
UBS is very positive on the company and has a buy rating and $56.00 price target on its shares. This implies potential upside of 11% for investors from current levels.
Lovisa Holdings Ltd (ASX: LOV)
Another ASX growth share that has been tipped as a buy is Lovisa. It is a fashion jewellery retailer that is currently embarking on a major global expansion.
Bell Potter is a big fan of the company thanks largely to this expansion. It believes Lovisa can grow its network by 10% per annum between FY 2023 and FY 2034, supporting very strong earnings growth.
The broker has a buy rating and $36.00 price target on Lovisa's shares. This suggests that its shares could rise 17% over the next 12 months.
NextDC Ltd (ASX: NXT)
Over at Morgan Stanley, its analysts think that NextDC could be an ASX growth share to buy. It is one of Asia's most innovative data centre-as-a-service providers.
The broker believes that the data centre market will grow materially over the remainder of the decade and that NextDC stands to benefit greatly.
It has an overweight rating and $20.00 price target on its shares, which implies potential upside of 12% for investors.
Webjet Limited (ASX: WEB)
The team at Morgans is bullish on online travel agent Webjet.
The broker is feeling very bullish on its outlook thanks to the dominant WebBeds B2B business. It highlights that there is "significant market share still up for grabs." This appears to position the company well for the future.
Morgans has an add rating and price target of $11.20 on Webjet's shares. This suggests that they could rise 23% from current levels.
Xero Limited (ASX: XRO)
A final ASX growth share to look at in July is Xero. It is a cloud accounting platform provider with over 4 million subscribers.
Goldman Sachs highlights that this is just a fraction of its estimated total addressable market of 100 million small to medium sized businesses. In light of this, the broker feels that Xero has a significant growth runway and feels it is "very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds."
It has a buy rating and $164.00 price target on Xero's shares. This implies potential upside of 22% for investors.
