Wanting to supercharge your returns?
If you are, then read on because listed below are two ASX growth shares that have been tipped to deliver strong returns over the next 12 months.
Here's what analysts are saying about these shares:
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Aristocrat Leisure Ltd (ASX: ALL)
The first ASX growth share that could be a buy according to analysts is gaming technology company Aristocrat Leisure.
Goldman Sachs is positive on the company's outlook. It believes that its high investment in research and development will underpin market share gains in the coming years.
ALL is the market leader in land-based content and cabinets, supported by its above industry R&D spend that should enable it to grow share beyond >40%. ALL will also be returning to its core competency of slots content following the sale of Plarium, with land-based synergies to support share gains. Lastly, we believe ALL should benefit from its high exposure to the US economy, including currency tailwinds into FY25.
The broker currently has a buy rating and $74.00 price target on its shares. Based on its current share price of $62.56, this implies potential upside of 18% for investors over the next 12 months.
Polynovo Ltd (ASX: PNV)
Another ASX growth share that could deliver market-beating returns for investors is PolyNovo.
It is a medical technology company aiming to simplify management of acute complex wounds with its NovoSorb BTM product. It is a dermal scaffold for the regeneration of the dermis when lost through extensive surgery, trauma, or burn.
Morgans is very positive on the company. Though, it concedes that it is only suitable for investors with a high tolerance for risk. It said:
PNV has provided a trading update for the 9 months ended March 2025, noting sales growth of 31.1%. We are confident our FY25 forecast can be achieved and this rate of growth will continue in 4Q25.
PNV has made progress on the regulatory front with a number of approvals achieved during the quarter and importantly the data for the full thickness burns trial is shortly to be locked and then submitted to the FDA to commence the approval process (expected to take six months). A search for a new CEO is underway and we view this as an important step for leadership stability. Given the positive sales momentum we have upgraded our recommendation to Speculative Buy (from Hold).
Morgans has a speculative buy rating and $1.69 price target. Based on its current share price of $1.29, this implies potential upside of 31% for investors over the next 12 months.
