Buy these excellent ASX growth shares for 15% to 20% returns

chart showing an increasing share price

If you’re a fan of ASX growth shares like I am, then you will be pleased to know that analysts are predicting big returns from the three listed below.

Here’s what you need to know about these top growth options:

NextDC Ltd (ASX: NXT)

The first ASX growth share that has been named as a buy is NextDC. It is one of the region’s leading colocation service providers from its growing collection of world-class data centres.

Goldman Sachs is feeling bullish about NextDC and believes it has significant long-term growth potential. Particularly given how the rise of artificial intelligence is driving a third wave of demand for data centre capacity. It adds:

We are particularly positive on NXT and are Buy rated given the rapid growth in cloud adoption, which has been supported by the continued evolution of the enterprise telecommunications market, and the significant demand by both public and private investors for digital infrastructure assets.

Goldman currently has a buy rating and $18.59 price target on its shares. This implies almost 20% upside for investors.

TechnologyOne Ltd (ASX: TNE)

Another ASX growth share that has been named as a buy is TechnologyOne. It is a leading enterprise software provider that transforms the way organisations interact with their customers and communities.

Bell Potter is a fan of the company and believes it is well-placed to continue its growth over the coming years. In fact, it suspects that its growth rate could accelerate. It said:

Technology One has had an annual growth target of 10-15% growth in NPAT for over a decade but we believe there is potential for the company to exceed this annual target and generate 15-20% growth over the next few years.

The broker has a buy rating and $18.50 price target on Technology One’s shares. This suggests potential upside of 18% for investors.

Treasury Wine Estates Ltd (ASX: TWE)

A final ASX growth share that has been given the thumbs up by analysts is Treasury Wine.

Morgans rates the wine giant highly and believes its recent US acquisition could prove to be a great addition. It said:

The acquisition [of DAOU Vineyards] is in line with TWE’s premiumisation and growth strategy and will strengthen a key gap in Treasury Americas (TA) portfolio. Importantly, DAOU has generated solid earnings growth and is a high margin business. It consequently allowed TWE to upgrade its margins targets. While not without risk given the size of this transaction, if TWE delivers on its investment case, there is material upside to our valuation.

The broker currently has an add rating and $14.03 price target on its shares. This implies potential upside of 17% for investors.

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Motley Fool contributor James Mickleboro has positions in Nextdc and Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Technology One. The Motley Fool Australia has recommended Technology One and Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.