If you’re interested in adding some S&P/ASX 200 Index (ASX: XJO) shares to your portfolio in April, then the three listed below could be worth considering.
These ASX 200 shares have been named as buys and tipped to generate strong returns for investors. Here’s what you need to know about them:
NextDC Ltd (ASX: NXT)
The first ASX 200 share to look at is NextDC. It is a leading data centre operator with a collection of world class centres across key capital city locations throughout Australia. The company is also aiming to grow its network with edge centres in regional areas and expand overseas. All in all, this appears to have positioned NextDC perfectly to capture the increasing demand for data centre capacity thanks to the structural shift to the cloud.
Citi is bullish on the company’s outlook. It has a buy rating and $14.55 price target on NextDC’s shares. This compares to the latest NextDC share price of $11.44.
SEEK Limited (ASX: SEK)
Another ASX 200 share to look at is this leading job listings company. It appears well-positioned for growth in the coming years thanks to its leadership position, pricing power, and exposure to Australia’s recovery from the pandemic.
The team at Morgan Stanley is positive on SEEK. Its analysts currently have an overweight rating and $36.00 price target on its shares. This compares to the most recent SEEK share price of $29.33.
TechnologyOne Ltd (ASX: TNE)
A final ASX 200 share to look at is enterprise software provider TechnologyOne. It is currently transitioning to become a software-as-a-service (SaaS) focused business and is delivering strong results. Pleasingly, management expects this to continue and is targeting annual recurring revenue (ARR) of over $500 million by FY 2026. This is almost double its current base ARR of $257.5 million.
The team at Bell Potter is a very positive on the company’s growth outlook. The broker has a buy rating and $15.00 price target on its shares at present. This compares to the latest TechnologyOne share price of $11.48.
The post Analysts name 3 ASX 200 shares that could generate strong returns appeared first on The Motley Fool Australia.
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More reading
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- 3 ASX shares I own myself that will rise again soon: expert
- Why this top broker tips 30% upside for the NextDC (ASX:NXT) share price
Motley Fool contributor James Mickleboro owns NEXTDC Limited and SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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