If you’re interested in adding some S&P/ASX 200 Index (ASX: XJO) shares to your portfolio, then the two listed below could be top options.
These ASX 200 shares have been named as buys with material upside potential. Here’s what you need to know about them:
Aristocrat Leisure Limited (ASX: ALL)
The first ASX 200 share to look at is Aristocrat Leisure. It is a leading global gaming content and technology company and top-tier mobile games publisher.
Aristocrat has been growing at a strong rate over the last decade and looks well-placed for more of the same over the 2020s. This is thanks to its strong market position, the growing popularity of its games, and its real money gaming opportunity.
Morgans is a fan of the company. It has an add rating and $48.00 price target on its shares. The broker is forecasting strong top and bottom line growth over the coming years.
TechnologyOne Ltd (ASX: TNE)
Another ASX 200 share that has been rated as a buy is enterprise software provider TechnologyOne.
It is currently transforming from a traditional software company to a software-as-a-service (SaaS) focused business and with great success.
During the first half of FY 2022, the TechnologyOne Global SaaS ERP solution continued to grow rapidly, with SaaS annual recurring revenue (ARR) rising 43% to $192.3 million. Importantly, this growth was all organic and includes no acquisitions.
But it won’t be stopping there. Management is aiming to grow its high margin ARR to $500 million by FY 2026 and appears confident it will get there. As are analysts at Goldman Sachs, which believe the risks are to the upside for TechnologyOne’s ARR target.
It is partly for this reason that the broker recently initiated coverage on the company’s shares with a buy rating and $14.00 price target.
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Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
- Aristocrat share price higher on bullish broker note
- Analysts name 2 ASX growth shares to buy with 30%+ upside
- Analysts name 2 ASX growth shares to buy now
- Analysts name 3 ASX 200 shares to buy now
- Goldman Sachs has just slapped buy ratings on these ASX tech shares
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 no position in any of the stocks mentioned. 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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