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2 ASX growth shares brokers love

Check out these ASX growth shares…
The post 2 ASX growth shares brokers love appeared first on The Motley Fool Australia. –

If you’re wanting to boost your portfolio with a couple of growth shares, 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)

The first ASX growth share to look at is Breville. Founded in Sydney in 1932, Breville has grown to become one of the world’s leading appliance manufacturers.

The good news is that its growth shows no signs of stopping. This is thanks to its international expansion, R&D investment, and favourable tailwinds. The latter includes the work from home trend, which is underpinning strong demand for cooking equipment and coffee machines.

During the first half of FY 2021, Breville reported a 28.8% increase in revenue to $711 million and a 29.2% increase in net profit after tax to $64.2 million. Positively, more of the same is expected in the second half. Management is guiding to earnings before interest and tax of $136 million. This will be a 20% increase year on year.

Analysts at UBS believe its growth can continue for some time to come. As a result, the broker has a buy rating and $35.70 price target on its shares.

Xero Limited (ASX: XRO)

Another ASX growth share to consider is Xero. It is a leading provider of a cloud-based business and accounting solution to small and medium sized businesses globally.

Over the last few years, Xero has been growing at a consistently strong rate. This has been driven by the shift to the cloud, its international expansion, and acquisitions. The latter includes the $284.6 million acquisition of workforce management platform, Planday, earlier this year.

These acquisitions are expected to support the monetisation of its app ecosystem. This is something which Goldman Sachs is particularly positive on. It believes Xero could have a multi-decade runway for strong growth if management can successfully monetise it.

Goldman is very bullish on its future. As such, it has a buy rating and $165.00 price target on its shares.

The post 2 ASX growth shares brokers love appeared first on The Motley Fool Australia.

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More reading

Why the Xero (ASX:XRO) share price has climbed 5% in a month
ASX tech shares lagging the ASX 200 on Thursday

Xero (ASX:XRO) share price edges lower after annual meeting
2 excellent ASX growth shares rated as buys

3 excellent ASX tech shares

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Xero. The Motley Fool Australia owns shares of and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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