2 ASX growth shares analysts are tipping as buys

Here’s why Domino’s Pizza Enterprises Ltd (ASX:DMP) and this ASX growth share have been tipped as buys by analysts…
The post 2 ASX growth shares analysts are tipping as buys appeared first on The Motley Fool Australia. –

If you’re wanting to boost your portfolio with a growth share or two, then you may want to consider the ones listed below.

Here’s why these ASX growth shares have been rated as buys:

Breville Group Ltd (ASX: BRG)

Breville could be a good option for growth investors. This appliance manufacturer has grown its sales by a compound annual growth rate (CAGR) of 12.4% over the last five years. This has underpinned an incredible average 30% per annum return over the same period.

The good news is that Breville appears well-placed to continue this positive sales growth over the next five years. This is thanks to a combination of growing demand, acquisitions, and its international expansion.

One broker that is very positive on the company and is confident in its long term growth prospects is UBS. The broker currently has a buy rating and $35.70 price target on its shares.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another ASX growth to look at is Domino’s. Like Breville, this pizza chain operator has been growing its top line at a consistently strong rate over the last five years. During the period, Domino’s sales have grown by a CAGR of 24.6% per annum.

Positively, this solid form has continued in FY 2021. During the first half, Domino’s generated sales of $1.84 billion and an underlying net profit after tax of $96.2 million. This was up 16.5% and 32.8%, respectively, over the prior corresponding period.

The good news is that more strong growth is expected in the second half. In fact, management said it expects its performance to be even stronger.

Looking further ahead, the company is aiming to double the size of its network over the next decade in its existing markets. It is also looking for acquisitions and could expand into new territories in the future. Combined with its same store sales growth targets, this should be supportive of further strong sales growth over the remainder of the 2020s.

Morgans is a fan of Domino’s. It currently has an add rating and $119.00 price target on its shares.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

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2 stellar ASX growth shares rated as buys

The post 2 ASX growth shares analysts are tipping as buys appeared first on The Motley Fool Australia.

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