Are you interested in adding some ASX growth shares to your portfolio this month? If you are, you may want to look at the two listed below that have recently been named as buys.
Here's what you need to know about these ASX growth shares:
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Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. It is a leading appliance manufacturer behind a range of brands that have been very popular with consumers for many years. Combined with its investment in research and development and its global expansion, this has helped underpin consistently solid sales and earnings growth.
The good news is that this is expected to continue in FY 2022. In fact, a recent presentation reveals that Breville expects its earnings before interest and tax (EBIT) in FY 2022 "to be consistent with the markets' consensus forecast of ~$156m." This will be a 14.3% increase from FY 2021's EBIT of $136.4 million.
Morgans is a very positive on Breville. The broker currently has an add rating and $32.00 price target on its shares.
Webjet Limited (ASX: WEB)
Another growth share for investors to look at is online travel agent, Webjet. For obvious reasons, it has been hit incredibly hard by the pandemic. The good news, though, is that it has started to bounce back as the travel market recovers.
In fact, Goldman Sachs expects the company to report a small EBITDA profit when it releases its FY 2022 results next week. Goldman has forecast FY 2022 revenue of $143.6 million and EBITDA of $1.5 million.
After which, with the wind firmly back in its sails, the broker is expecting a material lift in EBITDA to $155.4 million in FY 2023 and then a 32.8% jump to $206.4 million in FY 2024.
In light of this, its analysts believe investors should be buying the company's shares now with a long term view. Goldman currently has a buy rating and $6.90 price target on Webjet's shares.
