Are you interested in adding some ASX growth shares to your portfolio this month? If you are, you may want to look at the ones listed below that have recently been named as buys.
Here's what you need to know about them:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. It is a leading appliance manufacturer which has been growing at a consistently solid rate for many years. This has been underpinned by its investment in research and development and international expansion.
The good news is that these drivers are still in place and are expected to support further solid growth over the next decade.
It is partly for this reason that the team at Goldman Sachs currently rate Breville as a buy with a $23.40 price target on its shares.
Goldman commented:
We see BRG as having a three-pronged growth strategy: 1) building on secular growth of the portioned and roast & ground (R&G) coffee market and achieving market share gains; 2) new market entry; and 3) options – ecosystem revenue streams.
Treasury Wine Estates Ltd (ASX: TWE)
Another ASX growth share that could be a top option for investors is Treasury Wine. It is one of the world's leading wine companies and the name behind a range of popular brands including Penfolds, 19 Crimes, and Wolf Blass.
After going through a difficult period due to being effectively kicked out of China, Treasury Wine has bounced back strongly.
The good news is that analysts at Morgans believe the company's growth is only just beginning. As a result, it has put an add rating and $13.93 price target on its shares.
Morgans explained:
TWE owns much loved iconic wine brands, the jewel in the crown being Penfolds. We rate its management team highly. The foundations are now in place for TWE to deliver strong earnings growth from the 2H22 over the next few years. Trading at a material discount to our valuation and other luxury brand owners, TWE is a key pick for us.
