Growth investors are a lucky bunch! Right now, there are a large number of ASX growth shares trading at attractive levels.
Two such shares are listed below. Here’s why analysts are tipping them as buys:
Breville Group Ltd (ASX: BRG)
The first ASX growth share that could be a top option for investors is kitchen appliance manufacturer Breville.
As well as the Breville brand, the company owns brands such as Baratza, Kambrook, Lelit, and Sage.
Goldman Sachs is very positive on Breville and believes it is well-placed for growth in the coming years. It recently commented:
[We] expect BRG will continue to execute on GP margin expansion. We remain supportive of BRG’s characteristics as a high quality name in a secular growth category and believe they will be able to demonstrate revenue and EBIT CAGR of 7.6% and 11.1% over FY22-25.
Goldman has a buy rating and $22.70 price target on its shares.
Lovisa Holdings Limited (ASX: LOV)
Another ASX growth share that has been named as buy is this fast fashion jewellery retailer.
Last month, Lovisa released its half-year report and delivered one of the strongest results of earnings season. It reported a 44.8% increase in revenue to $315.5 million and a 31.9% jump in net profit after tax to $253.2 million.
The good news is that analysts at Morgans believe there’s plenty more to come over the coming years. This is thanks largely to the popularity of its brand and its expansion plans. The broker commented:
LOV continues to impress us with the rate at which it opens new stores and expands into new markets. As we have said before, LOV may just prove to be one of the biggest success stories in Australian retail. LOV is showing every sign of becoming a global brand. Investment will be needed to expand LOV’s network in the US and Europe and to take it into new markets, but the company has the balance sheet capacity to fund this and the returns could be stellar.
Morgans has an add rating and $29.00 price target on its shares.