If you're a fan of growth shares like I am, then you'll be pleased to hear that a number have recently been rated as buys by leading brokers.
Two such ASX shares are listed below. Here's what analysts are saying about them:
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Breville Group Ltd (ASX: BRG)
The first growth share to look at is Breville. It is the leading appliance manufacturer behind a range of popular brands. These include Sage, Kambrook, and of course Breville.
Breville has been a quiet achiever over the last decade, generating strong sales and earnings growth and delivering stellar returns for investors without much fanfare.
This has been underpinned by a combination of smart bolt on acquisitions, its consistent investment in research and development, and its expansion into new territories.
And while trading conditions aren't easy at the moment and could weigh on its near term performance, the long term looks as bright as ever. In fact, the team at Morgans believes the company is "positioned to deliver double-digit sales growth consistently over the next few years as it grows its market share, notably in geographies into which it has recently launched."
In light of this, the broker currently has an add rating and $25.00 price target on Breville's shares.
Nitro Software Ltd (ASX: NTO)
Another ASX growth share to consider is Nitro. It is a growing provider of document productivity software to businesses large and small globally.
Unfortunately, Nitro's shares have been absolutely smashed this year. This has been driven by the market's aversion to loss making stocks, weakness in the tech sector, and a disappointing guidance downgrade.
The team at Goldman Sachs is sticking with the company and has been urging investors to take advantage of the weakness in the Nitro share price by picking up shares while they're down. Particularly given that the broker continues "to see NTO as an undervalued global growth opportunity and highlight that the company now trades at ~12x FY24E EV/EBITDA on a capitalisation-adjusted basis."
As a result of this bullish view, Goldman has a buy rating and $2.05 price target on its shares.
