Luckily for Australian growth investors, there are plenty of options out there for them to choose from on the local share market.
But which ASX growth shares could be top buys right now? Let's take a look at two that analysts are feeling very bullish on this week:
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Light & Wonder Inc. (ASX: LNW)
Bell Potter believes this leading global cross platform games company could be a top ASX growth share to buy.
In response to its quarterly update this week, the broker reaffirmed its buy rating and lifted its price target of $186.00. This implies potential upside of 16% for investors over the next 12 months.
Commenting on its bullish view, the broker said:
LNW operates globally, with over 67% of its revenue historically derived from the US. We anticipate that LNW's cross-platform strategy and leading scale will enhance game performance metrics relative to competitors in both land-based and digital markets. As a result, we expect this improvement in product quality to strengthen LNW's competitive advantage, allowing the company to generate above industry average ROIC.
Pro Medicus Limited (ASX: PME)
Over at Goldman Sachs, its analysts are tipping the health imaging technology company as an ASX growth share to buy right now.
Earlier this week, in anticipation of a strong full year result this month, the broker reiterated its buy rating and $148.00 price target on its shares. Based on its current share price of $124.54, this suggests that upside of 19% for investors over the next 12 months.
As well as expecting a strong result this month, the broker expects more of the same in FY 2025 and beyond. It explains:
In our view, PME is well positioned into FY25 given a full year benefit of some large and high profile contracts, in addition to the accelerating frequency and size of new contract wins. We see PME's software Visage 7 as an industry leading solution with two distinct advantages relative to peers — speed and cloud capabilities — that have influenced the choice of PACS vendor. Given this, PME is benefiting from an industry network effect, and we forecast share gains to 13% in FY30E (c.7% today) as more hospitals move to modern systems. PME is expanding into adjacent solutions including AI and Cardiology which could provide significant upside given we believe PME is the incumbent technology leader in radiology, and is well-placed to take share in both markets.
