If you have room for some new portfolio additions in December, then it could be worth considering the two ASX growth shares listed below.
Here's what you need to know about these buy-rated shares:
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Lovisa Holdings Limited (ASX: LOV)
The first ASX growth share to look at is fast-fashion jewellery retailer Lovisa. It could be a top long term option due to the popularity of its affordable offering, its focus on younger consumers, and its bold global expansion plans. In respect to the latter, the company has been expanding its footprint materially in recent years and shows no sign of stopping. In fact, it just revealed that it has added 47 net new stores so far in FY 2023, bringing its total to 676 stores across 26 countries. Management also advised that Lovisa's first stores in Italy, Mexico, and Hungary are due to open in the coming weeks.
Macquarie currently has an outperform rating and $27.00 price target on its shares.
ResMed Inc. (ASX: RMD)
Another ASX growth share that could be in the buy zone for investors in December is ResMed. It is a medical device company with a focus on sleep treatment solutions. For many, many years, ResMed has been growing its revenue and earnings at a strong rate. This has been underpinned by the quality of its products and the growing prevalence of sleep disorders. In respect to the latter, management estimates that there are almost one billion people with sleep apnoea globally (with only ~20% diagnosed). In addition, it estimates that approximately half a billion people suffer from chronic obstructive pulmonary disease (COPD). Thanks to its leadership position in the market, this gives ResMed a long runway for growth over the 2020s and beyond.
Morgans is a fan of ResMed and currently has an add rating and $37.00 price target on its shares.
