2 ASX growth shares to buy when the market reopens

a2 Milk Company Ltd (ASX:A2M) and this ASX growth share could be worth a closer look when the market reopens next week…
The post 2 ASX growth shares to buy when the market reopens appeared first on The Motley Fool Australia. –

The market may be closed for Christmas but that doesn’t mean you can’t plan the investments you want to make when it reopens.

Two top ASX shares you might want to take a closer look at are listed below. Here’s what you need to know about them:

a2 Milk Company Ltd (ASX: A2M)

The first share to look at is A2 Milk Company. It is a leading infant formula and fresh milk company which focuses on A2-only products. This reportedly makes its milk easier to digest than regular milk which has both A1 and A2 proteins. This point of difference has helped the company stand out in a crowded market and underpinned strong sales and profit growth over the last few years.

While COVID headwinds are going to weigh on its performance in FY 2021, management remains very positive that demand will rebound once the pandemic passes. Analysts at Morgans appear to agree and have recently put an add rating and $12.20 price target on its shares. Ltd (ASX: KGN)

Unlike a2 Milk, Kogan has been a big winner from the pandemic. The closure of bricks and mortar retail stores shifted consumers online in large numbers, with some shopping online for the first time. This led to Kogan reporting a significant jump in active customers, which has underpinned extraordinarily strong sales and earnings growth.

Pleasingly, despite retail stores opening as normal again, this hasn’t stifled Kogan’s growth. Its strong growth has continued in FY 2021 and the company is currently on course to deliver a bumper profit result in the first half. In addition to this, a couple of value accretive acquisitions look set to give its second half performance a boost. One broker that is positive on the company is Credit Suisse. It recently put an outperform rating and $20.60 price target on its shares.

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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 ltd. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool Australia has recommended ltd. 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 when the market reopens appeared first on The Motley Fool Australia.

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