2 ASX Growth Shares Analysts Say Have 40%+ Upside

Motley Fool2022-03-02

If you’re a fan of growth shares, then you may want to look closely at the two shares listed below.Here’s why these growth shares have been rated as buys:Adore Beauty Group Limited(ASX: ABY)The first ...

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2022-03-02
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It is Australia’s number one pure-play online beauty retailer. Last month it released its half-year results and revealed record revenue and customer numbers. In respect to the former, Adore Beauty delivered an 18% increase in revenue to $113.1 million. This is still only a small portion of the $11 billion Australian beauty and personal care market, which is in the early stages of its shift online. This gives the company an extremely long growth runway.UBS is positive on the company and currently has a buy rating and a $4.70 price target on its shares. This suggests a potential upside of greater than 100% from current levels.Domino’s Pizza Enterprises Ltd(ASX: DMP)Another growth share to look at is Domino’s. It is one of the world’s largest pizza chain operators with stores across the ANZ, Asia-Pacific, and European regions. Its shares have been sold off heavily this year amid concerns over the performance of its Asian operations and the potential impact of food inflation on margins. 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