3 superb ASX growth shares to buy for top returns

Are you a fan of ASX growth shares? If so, then it might be worth taking a closer look at the three listed below.

They were called buys and predicted to deliver market-leading returns over the next 12 months. Here’s what analysts say about them:

Light & Wonder Inc. (ASX:LNW)

Bell Potter believes the world’s leading cross-platform gaming company could be a good buy for the rising ASX share. The broker currently has a Buy rating and a $165.00 price target on the company’s shares.

He believes the company is well positioned to increase its market share in the coming years. Broker said:

Our Buy rating is based on LNW’s cross-platform strategy and industry-leading scale across a portfolio of high-performance games in both terrestrial and digital markets. We continue to expect that improved product quality will strengthen LNW’s competitive advantage, driving improved ROI and shareholder gains.

Another ASX growth share that analysts think could become a market leader is Megaport.

Goldman Sachs is a big fan of the world’s leading provider of elastic interconnection services. The company has a Buy rating and a $12.00 price target on its shares.

The broker believes Megaport will benefit greatly from strong structural tailwinds. This explains:

We believe MP1 will benefit from strong structural tailwinds associated with public cloud adoption, including multi-cloud adoption and the move to NaaS technologies. Recognizing the mixed results in the near term for the partner channel and the new MVE product, we are issuing a Buy rating on the title as we remain confident that MP1 has a clear product advantage over peers and a decade of runway for sustainable growth.

The latest ASX growth share to buy right now is Xero. This is the view shared by Goldman Sachs analysts, who are also very bullish on the cloud accounting platform provider. They have a Buy rating and a $201.00 price target on the stock.

The broker highlights that Xero has a huge total addressable market (TAM) that will grow over the next decade. It said:

We believe Xero is very well positioned to take advantage of the digitalization of SMEs around the world, with compelling efficiency benefits and regulatory tailwinds, with over 100 million SMEs worldwide representing a combined turnover of > NZD 100 billion. Given the company’s pursuit of profitable growth and corresponding faster earnings growth, we see an attractive entry point into the global growth story with Xero, our preferred large-cap technology brand in ANZ.