If you’re planning to add some growth shares to your portfolio, then you may want to look at the shares listed below.
All three of these ASX growth shares have been tipped as buys recently. Here’s what you need to know about them:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind the Sage and Breville brands, to name just two. Breville has been growing at a strong rate over the last few years thanks to a combination of acquisitions, its international expansion, and its continued investment in research and development. Positively, these same factors are expected to drive further growth in the years to come.
Morgans is positive on the company’s long term growth outlook. As a result, its analysts currently have an add rating and $34.00 price target on its shares.
Another growth share to look at is Kogan. This ecommerce company may have been struggling with inventory issues, but its future remains very bright. This could potentially mean the recent weakness in the Kogan share price is a buying opportunity for long term focused investors. Particularly given its strong market position, growing private label offering, and the structural shift to online shopping.
Credit Suisse remains positive on the company and appears to believe investors should look beyond its short term issues and focus on its positive long term growth outlook. Its analysts have an outperform rating and $14.06 price target on its shares.
PointsBet Holdings Ltd (ASX: PBH)
A final growth share to look at is PointsBet. It is a sports wagering operator with operations in the ANZ and US markets. PointsBet offers innovative sports betting products and services via its scalable cloud-based platform. These are resonating well with punters, which has led to the company growing its revenue at a rapid rate in recent years.
Ord Minnett currently has a buy rating and $13.10 price target on the company’s shares. It is positive on PointsBet’s long term growth prospects.
Should you invest $1,000 in PointsBet right now?
Before you consider PointsBet, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and PointsBet wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
- 3 fantastic ASX shares for buy and hold investors
- Broker says PointsBet (ASX:PBH) share price is undervalued ahead of transformational year
- Analysts name 3 stellar ASX growth shares to buy right now
- 2 exciting ASX tech shares that could be buys
- 2 leading ASX shares that are growing rapidly
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Kogan.com ltd and Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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