5 ASX Growth Stocks Poised to Increase 10% to 25%

July 04, 2024 08:20 PM AEST | By Team Kalkine Media

Google News:

5 ASX Growth Stocks Poised to Increase 10% to 25% — Image source: shutterstock

Recent News

Hisense Display Technology Powers VAR Viewing at FIFA Club World Cup 2...

TAL Education Group to Announce First Quarter of Fiscal Year 2026 Fina...

Study tour bolsters Sino-Vietnamese youth exchanges

Zuellig Pharma Launches "Obesity is a Disease" Seminar as Part of "Red...

If you have a penchant for ASX growth shares, you'll be pleased to know that analysts are predicting good returns from the five companies listed below. Here’s what you need to know about these top shares:

Aristocrat Leisure Limited (ASX: ALL)

Aristocrat Leisure is one of the world's leading gaming technology companies, with operations spanning poker machines, real money gaming, and mobile games. UBS has set a price target of $56.00 on its shares, implying a potential upside of 11% from current levels.

Lovisa Holdings Ltd (ASX: LOV)

Lovisa is a fashion jewellery retailer embarking on a major global expansion. Bell Potter believes Lovisa can grow its network by 10% per annum between FY 2023 and FY 2034, supporting strong earnings growth. The broker has a price target of $36.00 on Lovisa's shares, suggesting a potential rise of 17% over the next 12 months.

NextDC Ltd (ASX: NXT)

NextDC is one of Asia's most innovative data centre-as-a-service providers. Morgan Stanley predicts that the data centre market will grow significantly over the remainder of the decade, with NextDC standing to benefit greatly. The broker has set a price target of $20.00 on its shares, indicating a potential upside of 12%.

Webjet Limited (ASX: WEB)

Webjet, an online travel agent, is positioned well for future growth thanks to its dominant WebBeds B2B business. Morgans highlights that there is significant market share still up for grabs, which positions the company well for the future. The broker has set a price target of $11.20 on Webjet's shares, suggesting they could rise 23% from current levels.

Xero Limited (ASX: XRO)

Xero is a cloud accounting platform provider with over 4 million subscribers. Goldman Sachs points out that this is just a fraction of its estimated total addressable market of 100 million small to medium-sized businesses. Xero is well-placed to take advantage of the digitisation of SMBs globally, driven by efficiency benefits and regulatory tailwinds. The broker has set a price target of $164.00 on Xero's shares, implying a potential upside of 22%.

These ASX growth shares present exciting opportunities for investors looking to capitalize on market momentum and future growth prospects.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.