Are you interested in adding some ASX growth shares to your portfolio next 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:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. It is a leading appliance manufacturer which have been growing at a solid rate for years.
The good news is that thanks to a combination of favourable industry tailwinds, its investment in research and development, and ongoing global expansion, Breville has been tipped to continue its strong growth over the coming years by the team at Morgans.
In fact, it believes Breville “is positioned to deliver double-digit sales growth consistently over the next few years as it grows its market share, notably in geographies into which it has recently launched.”
As a result, the broker currently has an add rating and $32.00 price target on its shares.
IDP Education Ltd (ASX: IEL)
Another ASX growth share that could be a buy is IDP Education. It is a provider of international student placement services and English language testing services.
IDP appears well-placed for growth as the global economy reopens from the pandemic and students start travelling again. In addition, recent acquisitions have strengthened its market position and look set to support its growth. Particularly in the key India market where demand for language testing is strong.
Analysts at Goldman Sachs are very bullish on the company’s outlook thanks to structural growth in international student volumes and IELTS testing demand. Its analysts are forecasting a “68% 3yr EPS CAGR (FY21-FY24E).”
Goldman currently has a buy rating and $35.50 price target on the company’s shares.