Growth investors certainly are a lucky bunch! The Australian share market is home to plenty of ASX growth shares that have very bright long-term outlooks.
But which ones could be buys? Three that Bell Potter is very bullish on are listed below. Here's what the broker is saying about them:
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Cettire Ltd (ASX: CTT)
Bell Potter's analysts think this online luxury retailer could be an ASX growth share to buy.
It likes Cettire because of its scalable proprietary technology platform and its massive global market.. The broker commented:
Cettire has a rapidly growing global online luxury personal goods retailing platform in a large market with a structural shift to online well underway. We believe CTT will continue to outperform its peer group consisting of global luxury retailers and local e-commerce players given its <1% market share in a growing market, which could remain more resilient than other discretionary categories in a likely recessionary environment.
Bell Potter has a buy rating and $4.00 price target on its shares.
Corporate Travel Management Ltd (ASX: CTD)
Another ASX growth share that Bell Potter is positive on is travel management solutions company Corporate Travel Management.
Its analysts believes the company's shares are good value based on its forecast for double-digit earnings growth this year and next. The broker explains:
We are positive on the Company's growth outlook and market leading position as the corporate travel market continues to recover and view any existing uncertainty regarding the recovery trajectory, macro-outlook, and structural industry headwinds as largely priced in by the market. We therefore see upside risk with CTD: (1) having already exceeded pre-pandemic TTV driven by new client wins; (2) remaining well capitalised; and (3) forecast to deliver strong double-digit earnings growth in FY24-25e.
Bell Potter has a buy rating and $21.00 price target on its shares.
IDP Education Ltd (ASX: IEL)
A final ASX growth share that Bell Potter is saying good things about is language testing and student placement company IDP Education.
Its analysts think it could be a great option due to structural growth tailwinds and its dominant market position. The broker said:
Whilst increased competition in English language testing is likely to impact IELTS volumes, we expect this to be partially offset by strength in the student placement segment supported by strong 1QFY24 student visa data in the Northern Hemisphere and structural growth tailwinds. In addition, the business has a solid dividend yield, relatively low working capital intensity, and has historically maintained strong cash conversion. IEL trades at a premium to its peers on a FY24e EV/EBIT of ~24x, however, we believe this is justified given its dominant market position, potential for M&A and successful track record.
Bell Potter currently has a buy rating and $27.00 price target on its shares.
