If you're looking for ASX growth shares to buy, then look no further.
That's because Morgans has recently named some among its best ideas for the month of July.
Two that make the cut are listed below. Here's why it is very bullish on them:
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ResMed Inc (ASX: RMD)
The first ASX growth share to consider buying in July is ResMed. It is a medical device company with a focus on the sleep treatment market.
Morgans believes the company is well-positioned for the future. Particularly given its increasingly important digital platform. It said:
While we expect the next few quarters to be volatile as COVID-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.
The broker has an add rating and a $37.80 price target on the company's shares.
Seek Ltd (ASX: SEK)
Another ASX growth share to consider buying according to Morgans is Seek. It is of course Australia's leading job listings company.
While some tailwinds are easing, the broker still believes that the conditions are favourable for the company. It explains:
Of the classifieds players, we continue to see SEEK as the one with the most relative upside, a view that had previously been based on sustained listings growth. However, whilst the tailwinds that had driven elevated job ads in prior periods appear to be abating to a degree, we note businesses are continuing to look to grow headcount in the coming months and vacancy rates remain elevated. Candidates are returning to the platform with applications per job ad now approaching pre-COVID levels (on improved migration levels and labour mobility), suggesting SEEK has additional flexibility to pull the dynamic pricing lever – helping to drive yield growth into FY24.
Morgans has an add rating and a $28.40 price target on the company's shares.
