If you’re looking for new additions next week, then it could be worth considering the three ASX growth shares named below that have been tipped as buys.
Here’s what you need to know about these ASX shares:
Lovisa Holdings Ltd (ASX: LOV)
The first ASX growth share that could be a buy is Lovisa. It is a fast-fashion jewellery retailer with a rapidly growing global footprint. Bell Potter is feeling bullish on the company’s long-term growth outlook thanks largely to its massive store rollout opportunity. It also feels the company is “relatively better immune to consumer spend pressures given the accessibility of the product from a price point perspective, once comps normalise.”
Bell Potter has a buy rating and a $30.50 price target on its shares.
Objective Corporation Limited (ASX: OCL)
Another ASX growth share that has been named as a buy is Objective Corp. It is a software company that provides content, collaboration, and process management solutions to the public sector. Goldman Sachs is positive on the company and believes it is well-placed for growth thanks to strong demand in a defensive sector. Its analysts expect this to underpin earnings per share growth above 20% in both FY 2024 and FY 2025.
Goldman has a buy rating and a $14.90 price target on Objective Corp’s shares.
Pilbara Minerals Ltd (ASX: PLS)
A final ASX growth share that has been named as a buy is Pilbara Minerals. It is one of the world’s largest lithium miners and the owner of the globally significant Pilgangoora Project. Thanks to its production expansion and downstream plans, its earnings look likely to remain relatively strong despite softening lithium prices. Macquarie appears to believe this will be the case and remains as positive as ever on the miner.
The broker has an outperform rating and a $7.30 price target on its shares.
