Are you wanting to add some new ASX growth shares to your portfolio this month? If you are, read on.
Three ASX growth shares that have been tipped as buys by Goldman Sachs are listed below. Hereâs what you need to know about them:
Breville Group Ltd (ASX: BRG)
The first ASX growth share that Goldman has tipped as a buy is leading appliance manufacturer, Breville. The broker believes the company is well-placed to continue its solid growth in the coming years despite the tough economic environment. In fact, it is forecasting an EBITDA compound annual growth rate of 7% between FY 2023 and FY 2025. This is being driven by the “strong premium coffee in-home consumption trend and competitive advantage in premium brand and product.”
The broker currently has a buy rating and $24.70 price target on its shares.
NextDC Ltd (ASX: NXT)
Another ASX growth share that could be in the buy zone is data centre operator NextDC. Goldman is very positive on the company and expects another strong result in FY 2023. This is thanks to robust demand for data centre services and its strong market position. Goldman then expects “an acceleration in growth following S3/M3 openings and supply chain normalization.”
The broker has a conviction buy rating and $14.30 price target on the company’s shares.
Temple & Webster Group Ltd (ASX: TPW)
A final ASX growth share that Goldman Sachs rates as a buy is online furniture and homewares retailer Temple & Webster. Goldman Sachs believes the company is well-placed for long term growth due to its leadership position in a retail category that is still only in the early stages of shifting online.
Its analysts have a buy rating and $7.50 price target on the companyâs shares.
The post Goldman Sachs names 3 ASX growth shares to own in 2023 appeared first on The Motley Fool Australia.
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More reading
- These beaten down ASX shares are cheap buys: experts
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- 3 ASX growth shares to buy with huge upside potential – analysts
- 2 excellent ASX growth shares that analysts say are buys in January
- 3 of the best ASX shares I’d buy now for a stock market rally in 2023
Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Temple & Webster Group. The Motley Fool Australia has recommended Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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