Are you interested in adding some ASX growth shares to your portfolio next week? If you are, you may want to look at the two listed below that have recently been named as buys.
Here’s what you need to know about these ASX growth shares:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. It is a leading appliance manufacturer which have been growing at a solid rate for years. The good news is that thanks to a combination of favourable industry tailwinds, its investment in research and development, and ongoing global expansion, Breville has been tipped to continue its strong growth over the coming years by the team at Macquarie. The broker currently has an outperform rating and $34.80 price target on its shares.
IDP Education Ltd (ASX: IEL)
Another ASX growth share that could be a buy is IDP Education. It is a provider of international student placement services and English language testing services. While IDP was hit hard by the pandemic, it has returned to form now restrictions are easing. In fact, during the first half of FY 2022, the company reported a massive 47% increase in revenue to a record of $397 million and a 70% lift in net profit after tax to $52.9 million. And with COVID restrictions easing further since then, IDP looks well-placed for a strong second half. Macquarie is also a fan of IDP and has an outperform rating and $35.00 price target on its shares.
Webjet Limited (ASX: WEB)
A final growth share for investors to look at is this online travel agent. As with IDP, Webjet was hit incredibly hard by the pandemic. However, with travel markets starting to rebound, the company looks well-placed to become profitable again in the near future. And with its costs reduced materially during the pandemic, Webjet will be a much more efficient business in the future when trading conditions normalise. Goldman Sachs is very positive and expects Webjet to come out of the pandemic in a much stronger position. As a result, the broker has a buy rating and $6.90 price target on its shares.
The post 3 excellent growth shares experts are tipping as buys appeared first on The Motley Fool Australia.
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More reading
- Here are 2 fantastic ASX growth shares analysts rate as buys
- The Webjet share price has leapt 12% in 2 weeks. Could this be the start of something?
- Why are ASX 200 travel shares taking off on Wednesday?
- Why are Webjet shares still among the most shorted on the ASX
- Here are the 5 best performing ASX travel shares of 2022 so far
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 Idp Education Pty Ltd. The Motley Fool Australia has recommended Webjet 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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