Are you a fan of growth shares and have $15,000 to put to work?
Well, brokers are bullish on the three ASX growth shares below, which could make them worth a closer look this month. Here's what you need to know:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville.
Breville has turned kitchen appliances into a global premium brand. That may sound simple, but it is not easy to do. Consumers can buy cheap alternatives in almost every category Breville operates in, yet the company has built a reputation that allows it to compete on design, quality, and performance.
Its strength is not just one product. Coffee machines, ovens, food preparation, and other categories give Breville multiple ways to grow across different markets.
The company is also still early in its global opportunity. It has already proven that its brand can travel, but there remains room to deepen its presence in North America, Europe, and other regions.
Morgans is bullish on the company. It recently put a buy rating and $36.75 price target on its shares.
NextDC Ltd (ASX: NXT)
Another ASX growth share that could be worth buying is NextDC.
NextDC owns and develops data centres. These are becoming a critical part of the modern economy as companies need more computing power, storage, connectivity, and access to cloud platforms.
The next wave of demand could be even more powerful. Artificial intelligence (AI) is increasing the need for high-performance digital infrastructure, and many organisations will need more capacity to manage the workloads that come with it.
NextDC is investing heavily to meet this demand. That can weigh on near-term earnings and cash flow, but it also gives the company a larger platform to grow from over the next decade.
Ord Minnett is a fan of NextDC. It has a buy rating and $21.50 price target on its shares.
Xero Ltd (ASX: XRO)
A third ASX growth share for investors to consider is Xero.
Xero has spent years building a platform that small businesses rely on to manage their finances. But the long-term opportunity is not just accounting software.
Small businesses often have fragmented systems for invoicing, payroll, payments, reporting, tax, and adviser communication. Xero's opportunity is to bring more of that work into one connected platform.
That is important because time is one of the most valuable resources for small business owners. Software that removes admin tasks, improves visibility, and helps businesses make better decisions can become very sticky.
The company also has a large international runway. Its growth in markets such as the United Kingdom and North America could be important if it continues increasing customer numbers and revenue per user.
Macquarie is very bullish and has an outperform rating and $235.80 price target on Xero's shares. This is almost triple its current share price.
The post 3 amazing ASX growth shares to buy with $15,000 appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in Nextdc and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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