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 growth shares have been rated as buys:
Adore Beauty Group Limited (ASX: ABY)
The first ASX growth share to look at is Adore Beauty. It is a leading online retailer in the $11.2 billion Australian beauty and personal care (BPC) market. It currently has almost 1 million active customers and generated revenue of $63.8 million during the first quarter. When annualised, this represents just a 2.3% share of a market that is still in the early days of its shift online. UBS is a fan of the company and currently has a buy rating and $6.00 price target on its shares.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
Another growth share to look at is Domino’s. It is one of the world’s largest pizza chain operators with stores across the ANZ, Asia-Pacific, and European regions. While it has a sprawling network across these regions, management still sees scope for significant expansion over the next decade. In fact, it is aiming to more than double its network to 6,650 stores in existing markets by 2033. Combined with its track record of same store sales growth, 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 $136.20 price target on the company’s shares.
REA Group Limited (ASX: REA)
A final ASX growth share to look at is REA Group. It is the dominant player in real estate listings in the Australian market. REA looks well-placed for growth in the coming years thanks to new revenue streams, cost cutting, price increases, and its international operations. The company has also been busy making acquisitions, which has strengthened its offering, particularly in mortgage broking. Goldman Sachs is also positive on REA. It has a buy rating and $167.00 price target on its shares.
The post 3 buy-rated ASX growth shares to make you smile appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- Why Appen, ANZ, Magellan, and REA shares are falling
- Leading brokers name 3 ASX shares to buy today
- Top broker picks 6 ASX 200 shares with earnings surprise potential
- Stellar earnings beat but REA (ASX:REA) share price dips… Do brokers say buy?
- Why Boral, Magellan, REA, and SEEK shares are falling today
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. has recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited, Dominos Pizza Enterprises Limited, and REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/DcR2bu0
Leave a Reply