Growth investors are spoiled for choice on the Australian share market.
But with so much to choose from, it can be hard to decide which shares to buy above others.
To help you on your way, let's take a look at two ASX growth shares that Morgans thinks are top buys this month.
Here's what it is recommending to clients:
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Breville Group Ltd (ASX: BRG)
Morgans is a fan of this appliance manufacturer and has named it as an ASX growth share to buy.
The broker has been impressed with Breville's operational execution and believes it is well-positioned to benefit from a number of powerful medium-term tailwinds. It expects this to lead to a resumption in sustainable earnings growth from next year. It explains:
1H26 was better-than-feared, with double-digit sales growth (+10%) largely offset by tariff costs (~130bp GM impact) to deliver a flat NPAT outcome (+1% on pcp). Crucially, FY26 EBIT growth guidance provides much-needed earnings visibility, alleviating some concerns for an extended transition year and improving our confidence for a resumption of sustainable EPS growth from FY27+.
We continue to be impressed by BRG's strong operational execution, green shoots in Food Prep, and powerful medium-term tailwinds (geographic expansion, espresso tailwinds, NPD, Best Buy developments).
Morgans has a buy rating and $40.65 price target on the company's shares. Based on its current share price of $27.69, this suggests that upside of 47% is possible for investors from current levels.
NextDC Ltd (ASX: NXT)
Another ASX growth share that is highly rated by analysts at Morgans is data centre operator NextDC.
Morgans was very impressed with the company's strong finish to the first half, highlighting its significant contract wins. The broker said:
NXT sold more MWs in the month of December 2025 than in the preceding 36 months combined. It was a record sales period for enterprise and hyperscale. The 416MW now contracted underpins FY29 underlying EBITDA of >$700m (without new contract wins) and sees NXT trading on an undemanding ~22x EV/Contracted EBITDA, with upside potential. BUY retained and target price lifted to $20.50 from $19.00 following our upgrades.
As mentioned above, in response to its results release, Morgans retained its buy rating on NextDC's shares with an improved price target of $20.50. Based on its current share price of $12.65, this implies potential upside of 62% for investors over the next 12 months.
