Are you looking for shares to buy next week when the market reopens? If you are, then you may want to consider the two listed below.
Here's what you need to know about these ASX shares that have been rated as buys:
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Breville Group Ltd (ASX: BRG)
The first ASX share that has been rated as a buy is leading appliance manufacturer, Breville.
As well as the eponymous Breville brand, the company has a growing portfolio of brands including Kambrook, Lelit, and Sage. Thanks to the popularity of these brands, its international expansion, and management's relentless investment in research and development, Breville has been growing its sales and earnings at a solid rate for a decade.
The good news is that the team at Morgans believe Breville is well-placed to continue its growth in the coming years. It commented:
In our opinion, BRG deserves to trade at a premium multiple. It 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.
The broker currently has an add rating and $25.00 price target on its shares.
NextDC Ltd (ASX: NXT)
Another ASX share that has been named as a buy is NextDC. It is a data centre operator providing scalable, on-demand services to support outsourced data centre infrastructure and cloud connectivity for enterprises of all sizes.
Thanks to increasing demand driven by the structural shift to the cloud, it has been growing at a rapid rate for a number of years. Goldman Sachs expects this trend to continue and notes that it has a "compelling" growth profile. It commented:
Although acknowledging the ongoing rotation towards value may impact NXT shares, we believe the company has a compelling growth profile, a proven and profitable business model, and digital infrastructure characteristics that continue to attract significant strategic interest. Hence we re-iterate our Buy (on CL) for NXT.
Goldman Sachs currently has a conviction buy rating and $14.20 price target on its shares.
