3 stellar ASX growth shares rated as buys

These growth shares have been tipped as buys…

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ASX shares profit upgrade chart showing growth

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If you’re planning to add some growth shares to your portfolio in July, then you might want to look at the shares listed below.

All three of these ASX growth shares have been tipped as buys recently. Here’s what you need to know about them:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind brands including Breville, Kambrook, and Sage. Breville has been a very positive performer in recent years and particularly in FY 2021. This has been driven by the success of its international expansion, its investment in research and development, and the growing popularity of its product range. The company has also been given an extra boost by the work from home trend. Positively, all these factors remain in place, which bodes well for Breville’s growth in the coming years.

UBS currently has a buy rating and $35.70 price target on its shares. This compares to the latest Breville share price of $31.88.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another ASX growth share to consider is Domino’s. This pizza chain operator has been growing at a solid rate for a long time. This has been driven by its expansion at home and overseas, acquisitions, and its focus on technology. Pleasingly, although the company has a significant store network across several regions, it still sees scope to double its footprint over the 2020s. Combined with its same store sales targets, this looks set to underpin further strong growth in the coming years.

Bell Potter has a buy rating and $122.00 price target on its shares. The Domino’s share price is currently fetching $118.23.

PointsBet Holdings Ltd (ASX: PBH)

A final growth share to look at is PointsBet. It is a sports wagering operator and iGaming provider with operations in the ANZ and US markets. It has been growing at a rapid rate thanks to the increasing popularity of mobile sports betting and its US expansion. For example, during the third quarter of FY 2021, PointsBet reported a 236% increase in turnover to $905.2 million. This was driven by a 137% increase in Australian turnover to $423.2 million and a 431% jump in US turnover to $482 million. This is still only a fraction of its addressable market in both regions.

Goldman Sachs has a buy rating and $17.20 price target on its shares. This compares to the latest PointsBet share price of $11.29.

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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. owns shares of and has recommended Hipages Group Holdings Ltd. and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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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