Are you interested in adding some ASX growth shares to your portfolio in September? 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 them:
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Allkem Ltd (ASX: AKE)
If you're not averse to investing in the resources sector, then the first ASX growth share to consider is Allkem.
It is the result of the merger between lithium miners Galaxy Resources and Orocobre. This created a giant in the making, bringing together a collection of quality projects across several lithium types. These include Olaroz, Mt Cattlin, and the Sal de Vida brine project.
And with lithium prices at sky high prices and looking likely to stay that way in the near term, Allkem appears well-placed to deliver strong earnings growth. Particularly given its production growth plans. Management is aiming to grow its production 3x by 2026 and command a 10% share of global lithium production over the long term.
Macquarie is a big fan of the company. It has an outperform rating and $21.00 price target on its shares.
Breville Group Ltd (ASX: BRG)
Another ASX growth share that has been tipped as a buy is Breville.
It is the leading appliance manufacturer behind a growing stable of brands such as Breville, Sage, Kambrook, and Baratza.
Thanks to its consistent investment in research and development and ongoing global expansion, Breville's appliances are now found in kitchens across the world.
Goldman Sachs is very positive on the company. It highlights that Breville is exposed to some powerful trends and its strong brands are well-placed to benefit from them. In light of this, it is forecasting further solid earnings growth in the coming years.
The broker currently has a buy rating and $24.70 price target on the company's shares.
