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Are you interested in adding ASX growth stocks to your portfolio next week? If so, you might want to check out the two listings below that have recently been marked as buys.
Here’s what you need to know about these ASX growth stocks:
The first ASX growth share to look at is Breville. It is a leading home appliance manufacturer that has been growing steadily for years. The good news is that through a combination of industry tailwinds, investment in research and development, and continued global expansion, Breville has been tipped to continue strong growth over the next few years by the Macquarie team. The broker currently has an outperform rating and a price target of $34.80 on its shares.
IDP Education is another ASX growth share that could be a buy. It is a provider of international student placement services and English language testing services. While the IDP has been hit hard by the pandemic, it has regained its form now that restrictions are easing. In fact, in the first half of fiscal 2022, the company announced a massive 47% increase in revenue to a record $397 million and a 70% increase in after-tax net profit to $52.9 million. And with COVID restrictions easing further since then, IDP looks set for a strong second half. Macquarie is also a fan of IDP and has an outperform rating and $35.00 price target on its shares.
A final growth share for investors to consider is this online travel agent. As with IDP, Webjet has been extremely hard hit by the pandemic. However, as travel markets begin to rebound, the company looks set to return to profitability in the near future. And with its costs dramatically reduced during the pandemic, Webjet will be a much more efficient business in the future when business conditions normalize. Goldman Sachs is very positive and expects Webjet to emerge from the pandemic in a much stronger position. As a result, the broker has a buy rating and a price target of $6.90 on its shares.