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Date : 10/01/2022

3 ASX Growth Stocks Better Placed To Navigate Uncertain Times

3 Top High Rated ASX Growth Stocks To Buy In 2022

The ASX 200 fell marginally today by 6.2 points or 0.1%. Again, Tech stocks were the worst performers. Xero, WiseTech Global, and Afterpay all lost ground by over 2% each. Among the top performers, AGL Energy, Whitehaven Coal performed positively. It goes to show that growth stocks are still in favor. However, looking past the tech sector may be a wise decision during these times.

Our List of ASX Growth Stocks Of 2022

ResMed (ASX: RMD)

The California based medical equipment manufacturing company also now offers a cloud-based software for diagnosis and treatment without the need for a hospital. Telemedicine and out-of-hospital healthcare looks to be booming and the pandemic has accelerated this shift. As a result, ResMed has benefitted and is aiming to serve 250 million patients through its products by 2025. An ambitious growth strategy that is well within reach for the company. Both sleep & respiratory care, and their SaaS offering has seen steady growth in the past few years and our estimates point towards ResMed being a good investment in the long-term.

The RMD share price has been a top performer since June. RMD shares were initially on a downward trend last year, however, the stock price has gained over 16% in 2021. In addition to the bullish financial performance in recent quarters, RMD shares were also boosted by the pitfalls of one of their leading competitors – Philips. This has inherently increased the market share that Resmed’s sleep apnea products demand in the market by at least 5%, while analyst estimates also suggest RMD market share increasing as much as 10% in the long-term.

RMD shares thus trade with a positive momentum. Fundamental tailwinds should drive the stock price higher in coming months. RMD shares closed at $33 a share.

Lovisa Holdings (ASX: LOV)

Lovisa Holdings or LOV is engaged in the retailing of fashion jewellery and accessories. The company’s geographical segments include Australia, New Zealand, Asia, Africa, Europe, and the Americas. LOV derives most of its revenue from Australia and NZ.

Lovisa shares have gained over 60% in the past year as sales were trending extremely high. In a post pandemic world where people will start to move freely once again, Lovisa’s sales are expected to increase.

What exactly moves LOV share prices? One of the catalysts is that Lovisa has announced the appointment of its new CEO, Victor Herrero. He will be replacing Shane Fallscheer, who is stepping down after 12 years leading the company. Mr Herrero was previously the Head of Asia Pacific and Managing Director Greater China for Inditex, the holding company of Zara, Pull & Bear and Massimo Dutti. He was also the CEO of Guess, and the CEO of Clarks before joining Lovisa. Furthermore, along with this new appointment, we positively see scope for the company to open as many as 1,400 stores. This provides Lovisa with a significant growth runway over the next decade and beyond.

Lovisa shares trade at $18.37 a share at market close today.

Lynas Rare Earths (ASX: LYC)

Lynas is the second-biggest rare earth’s producer worldwide. China is the leading rare earth producer with about 57% of the global output. Considering that, Lynas is a giant. The company is the largest rare earth producer of scale outside of China.

Mt Weld, Western Australia is home to one of the world’s highest-grade rare-earth mines. The concentrate produced here is then shipped to Malaysia where Lynas operates the world’s most advanced rare earth chemical processing plant in the world.

Rare earth elements play such an important role. We don’t often think, but this element can be found in the everyday objects around us. For instance, this element is in your smartphones, cars, electrical appliances and computers to name a few.

We do not like Lynas only for its rare earth exposure, but also for its outstanding execution. Hence, Lynas is working towards diversifying its business by 2025. There are four key areas for this plan:

  • Ramping up production
  • Construction of new production facilities
  • Facility upgrades in Malaysia and
  • Stepping up its US operations.

These initiatives are being taken with a vision to become the supplier of choice to its strategic customers. Furthermore, Lynas is projecting an NdPr production target of 10,500 tonnes annually by 2025. The opportunity that awaits Lynas is “as rare as” Rare Earth itself. Lynas is very well-placed to get in on what looks like the next gold rush!

Lynas shares have gained 146% in the past year. There is a lot of momentum currently and LYC shares trade at $11.12 a share.

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