With reporting season underway and market volatility still creating opportunities, February could be a good time to take a closer look at high-quality ASX growth shares that analysts believe are trading below their true value.
But which ones tick these boxes?
Listed below are three ASX growth shares that analysts are tipping as buys. Here's what they are recommending to clients:
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Aristocrat Leisure Ltd (ASX: ALL)
The first ASX growth share to consider in February is Aristocrat Leisure Ltd.
Aristocrat is one of the world's leading gaming technology companies, with operations spanning poker machines, real money gaming, and mobile games. Its strength lies in high-quality and popular game content and long-term relationships with gaming operators around the world.
Bell Potter is bullish on the company's outlook. The broker believes Aristocrat is well placed to benefit from ongoing growth in digital gaming and continued investment in regulated gaming markets globally.
It recently put a buy rating and $80.00 price target on its shares. Based on its current share price of $52.22, this implies potential upside of over 50%.
Lovisa Holdings Ltd (ASX: LOV)
Another ASX growth share that analysts are excited about is Lovisa Holdings Ltd.
Lovisa is a fast-growing fashion jewellery retailer that is in the middle of an ambitious global expansion. At last count, the company was operating 1,075 stores across more than 50 markets, with new store openings continuing at pace.
Morgans has named Lovisa as one of its top picks in the retail sector, highlighting the company's scalable store model and strong brand appeal. If Lovisa continues executing on its international rollout, the business could look materially larger over the next few years.
The broker recently put a buy rating and a $40.00 price target on its shares. Based on its current share price of $32.09, this suggests that upside of approximately 25% is possible between now and this time next year.
NextDC Ltd (ASX: NXT)
A final ASX growth share to buy in February could be NextDC.
NextDC is one of the Asia-Pacific region's leading data centre-as-a-service providers, delivering critical power, security, and connectivity to cloud platforms, enterprises, and government customers. Its network of centres continues to expand across Australia and the broader region.
Morgans recently upgraded NextDC shares. The broker sees long-term demand for data centre infrastructure being driven by cloud adoption, data growth, and emerging AI workloads, all of which underpin NextDC's growth outlook.
It has a buy rating and $19.00 price target on its shares. Based on its current share price of $13.22, this implies potential upside of more than 40%.
