2 super ASX growth shares to buy for huge returns

MotleyFool11-03 08:15

Do you have a penchant for ASX growth shares like I do? If you do, then it could be worth checking out the two growth shares listed below. They have been named as buys by brokers and tipped to rise ...

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If you do, then it could be worth checking out the two growth shares listed below. They have been named as buys by brokers and tipped to rise ...</p>\n\n<a href=\"https://www.fool.com.au/2024/11/03/2-super-asx-growth-shares-to-buy-for-huge-returns/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BSNM7G36.USD","symbol_name":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","start_time":0,"source_url":"https://www.fool.com.au/2024/11/03/2-super-asx-growth-shares-to-buy-for-huge-returns/","article_id":"2480386303","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480386303","pubTimestamp":1730592933,"sourceInfo":{"source_id":"motleyfoolau_stock","name":"MotleyFool"},"weMediaInfo":null,"summary":"Do you have a penchant for ASX growth shares like I do?] Digital Realty recently reported a record sales quarter during which it sold double the data centre capacity of its previous high and about four times more capacity than it usually sells in a quarter. This reinforces our view that the significant demand for cloud computing and AI-related digital infrastructure is going to unpin attractive returns and long-term growth. […] Our preferred exposure is NEXTDC. It has 17 operational data centres in Australia and nearly a dozen under construction or about to be built across Australasia and Asia.  Morgans has an add rating and $20.50 price target on its shares. 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If you do, then it could be worth checking out the two growth shares listed below. They have been named as buys by brokers and tipped to rise strongly from current levels. Here's what you need to know about them: IDP Education Ltd (ASX: IEL) Analysts at Goldman Sachs continue to see this language testing and student placement company as an ASX growth share to buy. While the broker acknowledges that FY 2025 is going to be a disappointing year, it feels this is more than priced in now. And with its earnings growth expected to return in FY 2026, Goldman feels that now is the time to pounce. It said:  We believe IEL's premium valuation is justified given the medium-term earnings potential driven by: (1) Structural growth in multi-destination placements, supplemented by an ongoing Australian recovery; (2) Ability to grow market share in the highly fragmented Canadian and UK SP markets; (3) Reinvestment in digital capabilities to increase competitive moat and generate new earnings streams.  Goldman has a buy rating and $19.00 price target on IDP Education's shares. This implies potential upside of 36% for investors. Nextdc Ltd (ASX: NXT) The team at Morgans believes that NextDC could be a top ASX growth share to buy this month. It is a growing technology company enabling business transformation through innovative data centre outsourcing solutions, connectivity services, and infrastructure management software. Morgans believes that NextDC is well positioned to benefit from significant and ongoing structural demand for data centre capacity. This includes its exposure to artificial intelligence (AI). The broker explains:  Enjoying all the benefits of the AI growth opportunity with less volatility are the operators of data centres. Data centres are facilities that store, process, and manage the vast amounts of data foundational to AI, ensuring secure and efficient data flow, backup, and recovery. […] Digital Realty recently reported a record sales quarter during which it sold double the data centre capacity of its previous high and about four times more capacity than it usually sells in a quarter. This reinforces our view that the significant demand for cloud computing and AI-related digital infrastructure is going to unpin attractive returns and long-term growth. […] Our preferred exposure is NEXTDC. It has 17 operational data centres in Australia and nearly a dozen under construction or about to be built across Australasia and Asia.  Morgans has an add rating and $20.50 price target on its shares. 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