Insights

2 ASX growth shares to buy in January

ResMed Inc. (ASX:RMD) and this ASX growth share could be ones to buy in January. Here’s why they are rated highly…
The post 2 ASX growth shares to buy in January appeared first on The Motley Fool Australia. –

man holding light bulb next to growing piles of coins

Are you looking to add a growth share or two to your portfolio in January? Then take a look at the two ASX shares listed below.

Here’s why they could be growth shares to buy right now:

Aristocrat Leisure Limited (ASX: ALL)

The first growth share to look at is Aristocrat Leisure. It is one of the world’s leading gaming technology companies. Thanks to its industry-leading pokie machines and the huge potential of its digital and social gaming business, Aristocrat Leisure has been tipped for strong growth over the 2020s.

And while it is currently facing headwinds due to the pandemic, trading conditions are beginning to normalise.

So much so, analysts at Citi expect the company to bounce back in FY 2021 and then build on this in the years that follow. As a result, the broker has recently retained its buy rating and lifted the price target on its shares to $40.60. This compares to the current Aristocrat Leisure share price of $31.40.

ResMed Inc. (ASX: RMD)

Another growth share to look at is ResMed. This medical device company has been growing strongly in recent years thanks to increasing demand for its industry-leading products in the fast-growing sleep treatment market.

The company has also benefitted during the pandemic from demand for ventilators. This helped underpin a very strong result in FY 2020 and an equally robust first quarter of FY 2021.  

Analysts at Credit Suisse are very positive on the company. The broker recently upgraded the company’s shares to an outperform rating and put a $31.00 price target on them.

It believes ResMed is well placed to benefit from a shift to home healthcare following the pandemic. Credit Suisse feels this will lead to the company delivering double digit earnings growth for a number of years to come. The ResMed share price ended the day at $27.50 on Monday.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 ASX growth shares to buy in January appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!