Insights

2 stellar ASX growth shares to buy in January

Domino’s Pizza Enterprises Ltd (ASX:DMP) and this ASX growth share could be top options for growth investors in January…
The post 2 stellar ASX growth shares to buy in January appeared first on The Motley Fool Australia. –

tech growth shares

Are you a growth investor looking for some new additions to your portfolio? Then you might want to check out the ones listed below.

Here’s why these ASX growth shares have been tipped as buys:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

This pizza chain operator has some bold expansion plans that could underpin strong growth over the next decade. At the end of FY 2020, the pizza chain operator had a network of 2,668 stores across Australia, New Zealand, Belgium, France, the Netherlands, Japan, Germany, Luxembourg, and Denmark.

Despite this huge store network, management still sees plenty of room for growth in the future. It is aiming to more than double its network to 5,500 stores by 2033. In addition to this, it has a medium term target of growing its same store sales by 3% to 6% per annum.

One broker that appears confident this will underpin strong growth in the future is Goldman Sachs. Its analysts have put a conviction buy rating and $88.00 price target on its shares. It believes Domino’s has the potential to maintain a double digit operating earnings compound annual growth rate (CAGR) over the medium term.

ResMed Inc. (ASX: RMD)

Another growth share to look at is ResMed. It is a sleep treatment-focused medical device company that has been growing at a very strong rate over the last few years.

This has been driven by its industry-leading products in a sleep treatment market that is growing fast. Pleasingly, management remains confident on its outlook and notes that there are an estimated ~1 billion people impacted by sleep apnoea worldwide. From these, it believes just ~20% have been diagnosed.

Analysts at Credit Suisse believe the company is well-placed for growth and have recently upgraded ResMed’s shares to an outperform rating with a $31.00 price target. It believes ResMed is well-placed to benefit from a shift to home healthcare following the pandemic.

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 Domino’s Pizza Enterprises Limited and 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 stellar 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!