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Why analysts are bullish on these ASX growth shares

Here are two growth shares that could be buys…
The post Why analysts are bullish on these ASX growth shares appeared first on The Motley Fool Australia. –

If you’re a fan of growth shares, then you may want to look closely at the shares listed below.

Here’s why these could be growth shares to buy:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is one of the world’s leading appliance manufacturers and has been growing at a consistently solid rate for the last decade.

The good news is that Breville has been tipped to continue this positive form in the future. This is thanks to the popularity of its brands, its international expansion, acquisitions, favourable consumer trends, and its continued investment in R&D.

The team at Morgans is positive on Breville. And while it notes that its shares trade at a premium to the market average, it feels this is justified.

Its analysts explained: “We see this premium as justified given the prospect for multi-year, globally-derived organic revenue growth at or above 10%. This prospect is only likely to be solidified by the increased investment in product development and marketing, coupled with margin expansion.”

Morgans has an add rating and $34.00 price target on its shares. This compares to the latest Breville share price of $30.88.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX growth share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with trusted tradies. At the last count, there were over 30,000 tradies using the platform, which is underpinning strong growth across all its key metrics.

And while it is generating meaningful revenue at present, it is still only scratching at the surface of its huge market opportunity. This provides Hipages with a very long runway for growth according to the team at Goldman Sachs.

It said: “We see meaningful growth opportunity from here: HPG currently captures only 2.4% of industry GMV; of the GMV it does service, the take rate is low compared to other vertical marketplaces. We forecast a 24% revenue CAGR and a 38% EBITDA CAGR from FY21-FY24E and despite near term reinvestment, we expect solid operating leverage over the long term with our terminal year (FY31E) EBITDA margin reaching 44%.”

Goldman Sachs has a buy rating and $5.15 price target on its shares. This compares to the latest Hipages share price of $3.87.

The post Why analysts are bullish on these ASX growth shares 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 and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Hipages Group Holdings Ltd. 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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