The Australian share market may have hit a record high last week, but that doesn't mean there aren't big potential returns still on offer from ASX growth shares.
For example, the three ASX growth shares listed below could rise strongly from current levels according to brokers. Here's what they say they are worth:
Domino's Pizza Enterprises Ltd (ASX: DMP)
The first ASX growth share to consider for a $10,000 investment is pizza chain operator Domino's.
It has been going through a very tough period in recent years. While this has been disappointing, its significant share price weakness may have created a buying opportunity for investors.
Particularly given that its performance has been showing signs of improvement and a return to consistent growth could be on the horizon.
Earlier this month, the team at Jarden reaffirmed their overweight rating and $42.00 price target on its shares. Based on its current share price of $36.50, this implies potential upside of 15% for investors over the next 12 months.
NextDC Ltd (ASX: NXT)
Over at Macquarie, its analysts believe that NextDC could be a top ASX growth share to buy right now. It is one of the region's leading data centre operators with a growing network of sites in key locations.
Macquarie believes that NextDC can continue growing at a solid rate in the coming years due to the ever-increasing demand for capacity in data centres. This is being driven by the artificial intelligence megatrend, and includes the entry of new breed of hyperscale customers (GPU Cloud and ChatGPT-type providers).
Macquarie has an outperform rating and $21.20 price target on NextDC's shares. Based on its current share price of $17.22, this suggests that upside of 23% is possible for investors over the next 12 months.
PEXA Group Ltd (ASX: PXA)
Analysts at Goldman Sachs think PEXA could be a great ASX growth share to buy. It is the leading electronic lodgement network operator (ELNO) facilitating electronic lodgement and settlement of property transactions in Australia.
Goldman sees the company's technology as core digital infrastructure with a relatively defensive growth profile supported by inflation-linked price increases mid-cycle property transaction growth. In addition, it sees significant upside from the UK and PEXA Digital Growth, opening up a combined incremental total addressable market of $1 billion.
The broker has a buy rating and $15.70 price target on its shares. This implies potential upside of 10.5% for investors between now and this time next year.
