3 fantastic ASX growth shares rated as buys

Three people sit on safe cheering with pizza on table

If you’re a fan of growth shares, then you may want to look closely at the three shares listed below.

Here’s why these could be growth shares to buy:

Altium Limited (ASX: ALU)

Altium is an electronic design software provider behind the Altium 365 and Altium Designer platforms. It also has a number of complementary businesses such as Nexus and Octopart. All in all, these have positioned the company perfectly to profit from the increasing demand for electronic design software due to the rapidly growing Internet of Things (IoT) and AI markets. Jefferies has a buy rating and $48.83 price target on the company’s shares.

Breville Group Ltd (ASX: BRG)

Breville is one of the world’s leading appliance manufacturers. It has been growing at a consistently solid rate for the last decade and looks well-placed to continue this trend in the future. This is thanks to the popularity of its numerous brands (Breville, Kambrook, Sage, etc), its international expansion, acquisitions, favourable consumer trends, and its ongoing investment in R&D. The latter ensure its products are at the forefront of industry innovation. Macquarie is very positive on the company and has an outperform rating and $34.37 price target on its shares.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Domino’s is one of the world’s largest pizza chain operators with stores across the ANZ, Asia-Pacific, and European regions. At the end of FY 2021, the company had a total of 2,974 stores across its network. While this is undoubtedly a large number, management isn’t planning to stop there. In fact, it is targeting 6,650 stores in existing markets by 2033. It also has the balance sheet capacity to expand into other markets through acquisitions. All in all, this bodes well for its growth over the next decade. Goldman Sachs is a fan of the company. It currently has a buy rating and $147.00 price target on Domino’s shares.

The post 3 fantastic ASX growth shares rated as buys appeared first on The Motley Fool Australia.

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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 and has recommended Altium. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. 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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