The Breville Group Ltd (ASX: BRG) share price has been distinctly off the boil for months. It’s drifted down from a 52-week high of $33.61 in August 2021 to a 52-week low of $19.74 last week. Since the start of the year, shares in the global home kitchen appliances giant have lost 36% of their value.

Now, a trio of brokers are tipping the Breville share price to rise by at least 50% over the next year.

Can the Breville share price go to $30-plus in a year?

Morgans has given Breville an add rating with a share price target of $32. UBS agrees that Breville is a buy, but it has a more ambitious price target of $34. Macquarie is the most bullish, tipping the Breville share price to rise to $34.80.

Morgans says favourable industry tailwinds combined with Breville’s ongoing global expansion and heavy investment in research and development position the company for strong ongoing growth.

In a note to clients in May, Morgans said Breville was “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”.

Breville recently expanded into Norway, Finland, Denmark, and Sweden. This month, it hopes to start operations in South Korea, and in July it’s targeting Poland.

UBS reckons Breville can deliver ongoing double-digit earnings per share (EPS) growth over the next few years.

Macquarie retains its outperform rating and says Breville shares could go as high as $34.80 by this time next year.

Breville retains FY22 EBIT guidance

Macquarie interpreted a positive update from Italian small-appliance manufacturer De’Longhi SpA (FRA: DLN) in May as indicative of strength in home appliances retailing. This may bode well for Breville’s second-half results in FY22.

Breville gave a presentation at the Macquarie Investor Conference in Sydney on 3 May, where it reconfirmed its FY22 guidance. Breville said it expects earnings before interest and tax (EBIT) “to be consistent with the markets’ consensus forecast of ~$156 million”. The FY21 EBIT was $136.4 million.

What’s next for Breville?

Breville expects to complete its 100% acquisition of the Italian prosumer specialty coffee group LELIT next month. The company announced the $113 million euros purchase in March.

At the time, Breville Group CEO Jim Clayton said:

Both companies have a shared passion for using product innovation to improve our customers’ coffee experience at home, and we look forward to working alongside LELIT and its existing partners to further accelerate its growth and product innovation, while preserving the values that underpin its Italian identity.

The Breville share price slipped into the red early this afternoon and is trading at $20.44, down 0.39% at the time of writing.