These growth shares could be top buy and hold options…
The post 2 excellent ASX growth shares to buy and hold appeared first on The Motley Fool Australia. –
There are a lot of growth shares to choose from on the Australian share market.
To help narrow things down, I have picked out two ASX growth shares that have been rated as buys. They are as follows:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. is one of the world’s leading appliance manufacturers. As well as the eponymous Breville brand, it also has the Sage, Kambrook, and Baratza brands.
Breville has been growing at a consistently solid rate for the last decade and looks well-placed to continue this trend over the next decade. This is thanks to the popularity of its brands, its international expansion, acquisitions, favourable consumer trends, and its continued investment in R&D.
Morgans is very positive on the company’s future and expects further strong growth in the coming years. As a result, its analysts have recently put an add rating and $34.00 price target on Breville’s shares.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
Another ASX growth share to look at is this pizza chain operator. Domino’s has also been growing at a consistently solid rate for over a decade thanks to the popularity of its offering and the expansion of its footprint.
Pleasingly, the future looks very positive for the company thanks to its bold expansion plans.
For example, Domino’s started FY 2022 with a total of 2,974 stores across its network. While this is undoubtedly a huge number, management is aiming to more than double this to 6,650 stores by 2033.
And it is worth noting that this is just in the markets that it is already operating in. Management highlighted that it has expanded its debt facilities, at lower margins, ensuring sufficient resources for further strategic acquisitions.
Citi is a fan of the company. It currently has a buy rating and $159.05 price target on Domino’s shares.
Should you invest $1,000 in Domino’s right now?
Before you consider Domino’s, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Domino’s wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
Domino’s (ASX:DMP) share price falls 6% on its worst day since February
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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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.