Are you interested in adding some ASX growth shares to your portfolio this month? If you are, you may want to look at the ones listed below.
Both shares have been named as buys and tipped to climb materially higher from current levels. Here’s what you need to know about these growth shares:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. It is a leading appliance manufacturer which has been successfully expanding its presence globally in recent years.
This, together with the strength of its numerous brands (Breville, Sage, Kambrook, etc) and its investment in research and development, has underpinned solid sales and earnings growth for many years.
Pleasingly, more of the same is expected in the future thanks to these same factors. It is for this reason that the team at Macquarie has an outperform rating and $34.80 price target on its shares. Based on the current Breville share price of $25.18, this suggests that its shares could rise 38% over the next 12 months.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
Another growth share to look at is this pizza chain operator. It could be a top long term option for investors due to its strong brand, investment in technology, and bold expansion plans.
The latter plans see Domino’s aiming to more than double its store network by FY 2033. It has also hinted that it is looking at making acquisitions, which could expand its addressable market even further.
Morgans is very positive on the company’s future and sees recent share price weakness as a buying opportunity. The broker has an add rating and $115.00 price target on its shares. Based on the current Domino’s share price of $80.71, this implies potential upside of 42% for investors.
The post 2 stellar ASX growth shares brokers say have huge upside potential 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. has no position in any of the stocks mentioned. 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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