Jun 25, 2023

Brokers have put buy ratings on these growth shares. Here’s why they could be buys for FY 2024. James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn't looked back since. James is part of the CFA Institute's Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns. Latest posts by James Mickleboro ( see all ) Image source: Getty Images You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More If you have room for some new portfolio additions in FY 2024, then it could be worth considering the three ASX growth shares listed below. Here’s what you need to know about these buy-rated shares: The first ASX growth share that could be a buy for FY 2024 is Pilbara Minerals. It is a lithium miner with a couple of high quality assets including the world class Pilgangoora Project. Although lithium prices have been getting weaker, Pilbara Minerals is still very profitable with prices at current levels. And thanks to this and its production expansion plans, analysts at Macquarie remain very positive and are forecasting big earnings and dividends in the future. Macquarie has an outperform rating and $7.70 price target on its shares. Another ASX growth share that could be a buy for the new financial year is Readytech. It is a leading provider of mission-critical software-as-a-service (SaaS) solutions for the education, workforce management, government and justice sectors. Goldman Sachs is a big fan of Readytech and appears to see it as a hidden gem. Especially given its exposure to government software. It notes that this “has been a pocket of strength and resilience” and expects it to help “deliver mid-teens organic growth at an expanding profit margin through the cycle.” Goldman has a buy rating and $4.40 price target on its shares.