Add some oomph to your portfolio with these top ASX growth shares: brokers

You won't want to miss out on these ASX shares if you're a growth investor.

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If you're a growth investor, then you may want to check out what analysts are saying about the high quality ASX growth shares listed below.

Here's why analysts are tipping them as top buys:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX growth share that could be a buy is Aristocrat Leisure. It is one of the world's leading gaming technology companies.

Goldman Sachs was pleased with the company's recent half-year results. Its analysts note that "the update offers incremental support to our Buy thesis."

One of the reasons Goldman is bullish on Aristocrat is its expansion into real money gaming with its Anaxi business. It believes this business could be a key driver of growth in the future. It explains:

The update from Anaxi was another key positive in our view. While management has not provided any financial target expectations for this business over the next couple of years, Anaxi has also signed FanDuel as a content distribution partner, resulting in access to c. 55% of the market. We continue to view this as the strongest growth opportunity for ALL, which has especially been enhanced by the proposed NeoGames acquisition.

Goldman has a buy rating and $46.70 price target on its shares.

Xero Limited (ASX: XRO)

Analysts at Citi believe this cloud accounting platform provider could be an ASX growth share to buy.

Citi was pleased with the company's recent full-year results and believes more strong (profitable) growth is coming. It commented:

We see Xero's focus (under the new CEO) on efficient growth as a step in the right direction. We upgrade our EBITDA forecasts by +7% to +8%, increase target price by +14% to $120, maintain our Buy rating, and see upside risk to consensus forecasts if Xero is able to deliver on 'Rule of 40'. We see FY24e as a year of re-basing and reassessing strategy. We also see delivery of 20%+ revenue growth while meeting the 'Rule of 40' threshold (something Xero has not done to date) as key for a further re-rate.

The broker has a buy rating and $120 price target on Xero's shares.

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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