These ASX growth shares are top buys: broker

These shares could have bucketloads of growth potential.

| More on:
Person pointing at an increasing blue graph which represents a rising share price.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're a growth investor on the lookout for some new portfolio additions, then read on!

That's because listed below are two ASX growth shares that analysts at Morgans are feeling very bullish on right now.

Here's what you need to know about these buy-rated growth shares:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX growth share for investors to look at is Aristocrat Leisure. It is a leading gaming technology company with a range of world-class businesses involved in poker machines, digital/mobile games, and real money gaming.

Morgans is feeling very positive about the company's "long-term growth potential, given its superior capitalisation and strong ability to invest in the development of its land-based and digital gaming businesses." The broker also highlights its "high cash conversion rate and ROCE, despite running a capital-light model."

Its analysts currently have an add rating and a $43 price target on Aristocrat's shares. This compares to its current share price of $38.34.

ResMed Inc (ASX: RMD)

Another ASX growth share that could be a buy for growth investors this month is ResMed. It is a medical device company with a focus on the sleep treatment market. This includes medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders such as sleep-disordered breathing and chronic obstructive pulmonary disease.

Morgans is also very positive on the company and believes it is well-placed for the future "as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain."

The broker currently has an add rating and a $37.80 price target on the company's shares. This compares to the latest ResMed share price of $32.39.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Growth Shares

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Growth Shares

2 of the best ASX growth shares money can buy

Bell Potter rates these growth shares very highly. But why?

Read more »

A smiling travel agent sitting at her desk working for Corporate Travel Management
Growth Shares

My 2 best ASX growth shares to buy in November

Growth continues to catch the market's attention.

Read more »

a man looks down at his phone with a look of happy surprise on his face as though he is thrilled with good news.
Growth Shares

Buy these ASX growth shares for 16% to 25% returns

Analysts are saying good things about these buy-rated shares.

Read more »

two children squat down in the dirt with gardening tools and a watering can wearing denim overalls and smiling very sweetly.
Growth Shares

How to maximise $10,000 by investing in 2 ASX growth shares

Here are my best growth ideas on the ASX right now.

Read more »

A man sees some good news on his phone and gives a little cheer.
Growth Shares

These ASX 200 growth shares could rise 50% to 60%

Big returns could be on offer from these growing companies according to analysts.

Read more »

Sports fans looking at smart phone representing surging pointsbet share price
Growth Shares

Up 111% in six months, this soaring ASX share is backed to keep rising

One fund manager thinks this ASX growth share can continue its phoenix performance.

Read more »

a happy investor with a wide smile points to a graph that shows an upward trending share price
Growth Shares

These ASX growth shares are being tipped to smash the market

Returns of 14% to 68% could be on the cards for buyers of these shares according to brokers.

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Growth Shares

These ASX 200 growth shares could rise 50% to 70%

Analysts are predicting these stocks to rise materially from current levels.

Read more »