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3 ASX growth shares that could be excellent buy and hold options

Analysts rate these ASX growth shares highly…
The post 3 ASX growth shares that could be excellent buy and hold options appeared first on The Motley Fool Australia. –

If you’re interested in adding a growth share or two to your portfolio, then you may want to look at the three listed below.

These three ASX growth shares have been rated as buys and tipped to grow strongly over the long term. Here’s why they could be excellent buy and hold options:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is this leading appliance manufacturer. Breville has been growing at a solid rate for years and looks well-placed to continue this positive trend in the future. This is thanks to the popularity of its products, favourable tailwinds such as working from home, its ongoing international expansion, and its investment in research and development. UBS is bullish on its prospects and expects its growth to continue. The broker currently has a buy rating and $35.70 price target on its shares.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another ASX growth share to consider is Domino’s. This pizza chain operator is another company that has been growing at a solid rate for some time. And like Breville, it has been tipped to continue doing so in the future. Domino’s growth has been driven by the popularity of its products, its focus on technology, and its store expansion. Positively, all these drivers are still in place. This is particularly the case with its expansion plans, with management aiming to double its network again over the next decade. Bell Potter is a fan of Domino’s and currently has a buy rating and $122.00 price target on its shares.

Hipages Group Holdings Ltd (ASX: HPG)

A final ASX growth share to look at is Hipages. It is a leading Australian-based online platform and software as a service provider. The Hipages platform connects tradies with residential and commercial consumers, providing them with job leads from homeowners and businesses. It also provides tradies with the tools from which they can run the administration side of things. At present the company has a growing but modest share of industry advertising spend. However, analysts at Goldman Sachs see scope for this to increase to upwards of ~60% in the future. In light of this, it is very positive on the company’s future and see a huge growth runway ahead of it. Goldman Sachs has a buy rating and $3.40 price target on its shares at present.

The post 3 ASX growth shares that could be excellent buy and hold options appeared first on The Motley Fool Australia.

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More reading

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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. owns shares of and has recommended Hipages Group Holdings Ltd. 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.

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