If you’re a fan of growth shares, then you may want to look closely at the two shares listed below.
Here’s why these could be growth shares to buy:
Altium Limited (ASX: ALU)
The first growth share for investors to look at is Altium. It is the electronic design software provider behind the Altium 365 and Altium Designer platforms.
Altium also owns the complementary Nexus collaboration platform and the Octopart search engine for electronic parts. The latter has been performing particularly positively given supply chain disruptions, which have made parts hard to source.
All of Altium’s businesses have exposure to the printed circuit board (PCB) market. This is a market that is growing strongly thanks to favourable industry trends such as Internet of Things (IoT) and artificial intelligence which are underpinning an enormous increase in electronic devices globally.
The team at Bell Potter is bullish on Altium and is forecasting strong growth in the coming years. It currently has a buy rating and $41.25 price target on the company’s shares.
Breville Group Ltd (ASX: BRG)
Another ASX growth share that could be in the buy zone is Breville. It is a leading Australian appliance manufacturer with global aspirations.
Although the company is best known for its eponymous Breville brand, it is also responsible for brands such as Baratza, Kambrook, and Sage.
Thanks to the company’s ongoing investment in product development, these brands have been resonating well with consumers for years and are now found in kitchens all over the world.
But management isn’t resting on its laurels. It continues to both invest in R&D and expand the company’s global footprint.
This has the team at Morgans forecasting double-digit sales growth over the next few years.
In light of this, Morgans is bullish on the company and has an add rating and $32.00 price target on its shares.