Insights

2 fantastic ASX growth shares named as buys this week

These ASX growth shares have been named as buys…
The post 2 fantastic ASX growth shares named as buys this week appeared first on The Motley Fool Australia. –

Are you wanting to add some growth shares to your portfolio this month? If you are, then you may want to check out the two listed below.

Here’s why analysts are tipping these ASX shares as buys:

Bapcor Ltd (ASX: BAP)

The first ASX growth share to look at is Bapcor. It is the Asia Pacific region’s leading provider of vehicle parts, accessories, equipment, service and solutions.

Earlier this week, Bapcor released its full year results and revealed strong sales and profit growth. For the 12 months ended 30 June, the company reported a 20.4% increase in revenue to $1,761.7 million and a 46.5% jump in pro forma net profit after tax to $130.1 million.

This was driven by growth across the business. Bapcor’s CEO & Managing Director, Darryl Abotomey, explained: “As was the case in the first half of the year, every one of our business segments increased revenue and earnings, capitalising on the increased demand during the period while at the same time also delivering major projects across the group that will set us up for continued success.”

And while management’s guidance for FY 2022 was somewhat cautious, the team at Credit Suisse remain positive.

In response to the release, the broker has retained its outperform rating and trimmed its price target ever so slightly to $9.20.

Breville Group Ltd (ASX: BRG)

Another ASX growth share to look at is Breville. It is the Australian appliance manufacturer behind the Sage, Kambrook, Baratza, and eponymous Breville brands.

Breville was on form in FY 2021 and has also just delivered a stellar full year result. For example, for the 12 months ended 30 June, Breville reported a 24.7% increase in revenue to $1,187.7 million and a 39.6% jump in EBIT to $136.6 million. The latter was ahead of its upgraded guidance.

The company’s CEO, Jim Clayton, explained that its international expansion and the work from home initiative were key drivers of its strong result.

He commented: “A fairly remarkable year for the Group with accelerated demand experienced in the first half carrying through to the second half. Increased consumer demand, driven by the need/requirement to work from home, coupled with our continued geographic expansion, outweighed logistical challenges and a weakening USD.”

In response to the result, Morgan Stanley retained its overweight rating and lifted its price target to $36.00. It expects its strong form to continue and is forecasting further strong earnings growth in FY 2022.

The post 2 fantastic ASX growth shares named as buys this week appeared first on The Motley Fool Australia.

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 August 16th 2021

More reading

The Bapcor (ASX:BAP) dividend bumps up 14%
These top ASX dividend shares keep giving investors a payrise

Why Bapcor, BHP, CSL, & Netwealth shares are tumbling today

Top brokers name 3 ASX shares to buy today

The Bapcor (ASX:BAP) share price is rising after FY21 earnings on Wednesday

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 owns shares of and has recommended Bapcor. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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!