If you are lucky enough to have $10,000 to invest and also have a penchant for ASX growth shares, then read on!
That's because listed below are three fantastic shares that analysts are tipping to grow strongly in the coming years. Here's why they rate them as buys:
Nextdc Ltd (ASX: NXT)
First up is data centre operator Nextdc. This ASX growth share stands to be one of the key beneficiaries of Australia's surging demand for cloud computing, enterprise IT, and now artificial intelligence.
Nextdc builds and operates high-performance and secure data centres across the Asia-Pacific region. These facilities provide the digital infrastructure that powers cloud platforms and AI tools — and demand is only accelerating.
Goldman Sachs believes this makes NextDC a great long term option for Aussie investors. So much so, it has put a buy rating and $14.70 price target on its shares. This implies potential upside of almost 32% for investors over the next 12 months.
Telix Pharmaceuticals Ltd (ASX: TLX)
The next ASX growth share to consider for a $10,000 investment is Telix Pharmaceuticals. It is a rapidly growing biotechnology company.
Telix is quickly becoming a global leader in radiopharmaceuticals — targeted cancer therapies and imaging agents that deliver precision treatment with minimal side effects. Its flagship product Illuccix is already generating strong revenue, and several more therapies are on track for commercialisation in the years ahead.
This has caught the eye of analysts at Bell Potter, which have named Telix as one of its top picks for the month. As a result, the broker has put a buy rating and $36.00 price target on its shares. This suggests that upside of 40% is possible between now and this time next year.
Temple & Webster Group Ltd (ASX: TPW)
Rounding out the trio is Temple & Webster. It is Australia's leading online furniture and homewares retailer.
This ASX growth share has been quietly building a strong, profitable business, while continuing to win market share as the shift to online shopping accelerates.
Temple & Webster boasts no debt, strong cash flow, and a capital-light model that enables it to scale efficiently.
Citi believes its strong form can continue and is forecasting further impressive sales and profit growth over the coming years. In light of this, the broker recently put a buy rating and $21.10 price target on its shares. This implies potential upside of approximately 26% for investors.
