Are you interested in adding some ASX growth shares to your portfolio? If you are, you may want to look at the ones listed below.
Here's what you need to know about these buy-rated growth shares:
Aristocrat Leisure Limited (ASX: ALL)
The first ASX growth share to look at is Aristocrat Leisure. It is one of the world's leading gaming technology companies. While the pandemic hit Aristocrat hard, it has bounced back very strongly and even appears to be winning market share from rivals.
Furthermore, its digital business continues to grow strongly and generate significant recurring revenues thanks to the ongoing popularity of its portfolio. And while the company has just missed out on a major real money gaming acquisition, management appears intent on increasing its exposure to this growing market and certainly has the balance sheet strength to do so.
Morgans is very positive on Aristocrat and has an add rating and $48.00 price target on its shares. Based on the current Aristocrat share price of $36.70, this implies potential upside of approximately 31% for investors.
Breville Group Ltd (ASX: BRG)
Another ASX growth share to look at is Breville. It is the leading appliance manufacturer behind the Sage, Kambrook, Baratza, and eponymous Breville brands.
Thanks to the popularity of these brands and management's ongoing investment in R&D, Breville has been growing at a solid rate for years. This has continued in FY 2022, with the company delivering 23.6% increase in half year revenue to $878.7 million and a 25.1% lift in net profit after tax to $77.7 million.
Morgans is also a fan of Breville and has recently put an add rating and $32.00 price target on its shares. With the Breville share price currently fetching $27.18, this suggests potential upside of approximately 18% for investors over the next 12 months.
