Buy these top ASX growth stocks: experts

man on an iPad looking at chart of an increasing share price

man on an iPad looking at chart of an increasing share price

If you’re a fan of growth stocks like I am, then I have good news for you.

A couple of high quality shares with bags of growth potential have recently been named as buys. Here’s why brokers are bullish on them:

Breville Group Ltd (ASX: BRG)

Goldman Sachs has named this appliance manufacturer as an ASX growth stock to buy.

The broker is very positive on the company and highlights that it is exposed to some powerful trends. This includes the at-home coffee market, which Breville has material exposure to following some recent acquisitions.

Combined with its international expansion and ongoing research and development investment, Goldman believes Breville can grow its revenue and EBITDA by a compound annual growth rate of 7.6% and 11.1%, respectively, between FY 2022 and FY 2025. Not bad given the tough economic environment it is operating in.

Goldman has a buy rating and $22.70 price target on the company’s shares.

Corporate Travel Management Ltd (ASX: CTD)

Over at Morgans, its analysts are bullish on this corporate travel booker and have named it as an ASX growth stock to buy.

The broker believes Corporate Travel Management is well-placed for growth over the medium term thanks to acquisitions, its lower cost base, and technology development.

It highlights that “CTD should be a materially larger business post COVID given it has made two highly accretive acquisitions during the downturn. The company has also won a lot of new business, implemented structural cost-out opportunities and continued to develop its market-leading technology.”

Morgans currently has an add rating and $24.00 price target on its shares.

The post Buy these top ASX growth stocks: experts 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…

See The 5 Stocks
*Returns as of April 3 2023

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];[property] = defaultValue;

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);

More reading

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 Corporate Travel Management. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s