Analysts name 2 excellent ASX growth shares to buy right now

Here are two ASX growth shares that are rated highly…

| More on:
happy investor, share price rise, increase, up

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Looking for some additions to your portfolio? Listed below are two ASX growth shares that have been given buy ratings.

Here’s why analysts rate them highly right now:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind the Sage, Kambrook, Baratza, and Breville brands.

Thanks to its ongoing investment in product development, Breville’s brands have been resonating extremely well with consumers for many years. This has been underpinning solid sales, earnings, and dividend growth.

The good news is that this solid form looks set to continue due to the strength of its product portfolio, favourable trading conditions and consumer preferences, and its ongoing global expansion.

Morgans is a big fan of Breville. While it acknowledges that its shares are not cheap, it believes the premium is justified given “the prospect for multi-year, globally-derived organic revenue growth at or above 10%.”

The broker currently has an add rating and $34.00 price target on its shares.

ResMed Inc. (ASX: RMD)

Another ASX growth share that could be in the buy zone is ResMed.

It is a medical device company with a focus on sleep treatment and respiratory products that treat disorders including sleep apnoea and chronic obstructive pulmonary disease (COPD).

These are significant and growing markets to target. For example, upwards of 1 in 5 people are believed to suffer from sleep apnoea, with the vast majority currently undiagnosed. This bodes well for ResMed’s future growth, particularly given its industry-leading products, high level of research and development, and wide distribution network.

Another positive for the company is the recent product recall by its biggest rival Philips. An update this week reveals that the Dutch healthcare giant has now expanded its recall to 5.2 million devices from 3 million to 4 million. This is expected to tie Philips up with repairs for some time and also damage its brand.

Macquarie is positive on the company. It currently has an outperform rating and $39.00 price target on ResMed’s shares.

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 Life360, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Growth Shares

A happy businessman pointing up, inidicating a rise in share price
Growth Shares

Analysts name 3 buy-rated ASX growth shares for July

Here are three growth shares that could be in the buy zone in July...

Read more »

A man with a yellow background makes an annoncement, indicating share price changes on the ASX
Growth Shares

Experts say these ASX 200 growth shares are buys with 20%+ upside

These growth shares could be buys according to experts...

Read more »

a happy investor with a wide smile points to a graph that shows an upward trending share price
Growth Shares

3 excellent ASX growth shares that analysts are excited about

Analysts rate these growth shares very highly...

Read more »

A happy woman raises her face in celebration, indicating positive share price movement on the ASX
Growth Shares

Analysts say these ASX growth shares have huge upside potential

These growth shares could have heaps of upside...

Read more »

a graph indicating escalating results

Where to find value in growth? Here are 2 ASX shares I’d buy in July

Both of these ASX shares could achieve good things in the future.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Growth Shares

Analysts tip big returns from these ASX growth shares

Here are two ASX growth shares analysts expect big returns from...

Read more »

happy investor, share price rise, increase, up
Growth Shares

Here’s why brokers rate these ASX growth shares as buys

Here's why these growth shares could be buys next week...

Read more »

Woman smashes dollar sign for dividend share investment
Growth Shares

2 beaten down ASX shares named as buys by experts

Here are two beaten down shares that could be buys...

Read more »