If you're looking for ASX growth shares to buy, then look no further! Morgans has named a number of shares as its best ideas for February.
Two growth shares that have been given the thumbs up are listed below. Here's why it is bullish on them:
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Corporate Travel Management Ltd (ASX: CTD)
This corporate travel booker could be a growth share to buy according to Morgans. It is a big fan of the company and is one of its key picks in the travel sector. Particularly given its attractive valuation and recent acquisitions. The broker explained:
Taking a longer term view, CTD remains as a key pick for the travel sector. We see substantial upside in its share price as the company recovers from the COVID affected travel downturn. In fact, CTD should be a materially larger business post COVID given it has made two highly accretive acquisitions during the downturn. The company has also won a lot of new business, implemented structural cost out opportunities and continued to develop its market leading technology offering which means that it will require less staff in the future. CTD is well managed and has a strong balance sheet (no debt).
Morgans has an add rating and $25.65 price target on the company's shares.
Jumbo Interactive Ltd (ASX: JIN)
Another ASX growth share to consider is Jumbo. It is the online lottery ticket seller behind the OZ Lotteries brand and the Powered by Jumbo software as a service solution.
Morgans believes that Jumbo is well-placed for growth thanks to opportunities at home and abroad. It also likes its defensive qualities and low capital requirements. It commented:
We believe JIN offers excellent strategic growth opportunities, both in Australia and overseas, supported by a steadily expanding domestic market for digital lottery retailing. The business is cash generative and has a low requirement for ongoing capex. Lottery sales are resilient to economic cyclicality. They do not represent a large proportion of the personal budgets, hovering around 0.5% of household discretionary income in Australia. Although near-term sales are affected by the frequency of large jackpots, over time growth is steady.
Morgans has an add rating and $17.00 price target on its shares.
