These growth shares are rated as buys…
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Are you interested in adding some ASX growth shares to your portfolio this month? If you are, you may want to look at the ones listed below that have recently been named as buys.
Here’s what you need to know about them:
Appen Ltd (ASX: APX)
The first growth share to look at is Appen. It has a team of over one million crowd sourced experts preparing the data that goes into artificial intelligence (AI) and machine learning models. It does this for some of the biggest tech companies in the world such as Google and Facebook. And while demand softened during the pandemic, there are early signs emerging that indicate a rebound is taking place.
For this reason, last week Citi put a buy rating and $18.00 price target on its shares.
Cochlear Limited (ASX: COH)
Another growth share to consider is Cochlear. It is one of the world’s leading hearing solutions companies. Cochlear has been consistently delivering solid earnings growth for years thanks to its world class portfolio of products, ageing populations, and its high level of investment in research and development. And with all these drivers still in place today, Cochlear appears to be in a position to continue its growth over the next decade.
Macquarie currently has an outperform rating and $246.00 price target on its shares.
IDP Education Ltd (ASX: IEL)
A final ASX growth share to look at is IDP Education. It is a provider of international student placement services and English language testing services. Although the company has been hit hard by the pandemic, it is expected to come out of the crisis in a stronger position. This, together with pent up demand and acquisitions, is expected to underpin rapid growth once trading conditions return to normal.
Morgan Stanley has an overweight rating and $33.00 price target on its shares.
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*Returns as of May 24th 2021
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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 Appen Ltd, Cochlear Ltd., and Idp Education Pty Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.