Investors that are looking for growth options might want to check out the ASX 200 growth shares listed below.
These shares have been named as buys and tipped to climb meaningfully from current levels. Hereâs what you need to know:
Lovisa Holdings Limited (ASX: LOV)
The first ASX 200 growth share that has been named as a buy is this fast fashion jewellery retailer. Last month, Lovisa released its half-year results and reported a 44.8% increase in revenue to $315.5 million and a 31.9% jump in net profit after tax to $253.2 million. Analysts at Morgans were impressed and have described the company as a âphenomenonâ due to its incredible expansion plans.
Morgans currently has an add rating and $29.00 price target on its shares.
ResMed Inc. (ASX: RMD)
Another ASX 200 growth share that has been named as a buy is ResMed. It is a medical device company with a leadership position in the sleep disorder treatment market. Thanks to its huge market opportunity and world class product portfolio, it has been tipped to continue growing at a solid rate in the future by analysts at Goldman Sachs.
The broker recently reaffirmed its buy rating and $38.00 price target on its shares.
Pilbara Minerals Ltd (ASX: PLS)
A final ASX 200 growth share to consider buying is Pilbara Minerals. The team at Morgans believe investors should be taking advantage of recent share price weakness to snap up the high quality lithium miner. Particularly given its belief that âdemand in the Chinese market could increase from March onwards.â It expects this to support lithium prices, which have been tumbling in recent months.
Morgans currently has an add rating and $4.70 price target on the minerâs shares.
The post Hereâs why experts rate these ASX 200 growth shares as buys appeared first on The Motley Fool Australia.
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More reading
- Will the Pilbara Minerals share price crash in 2023?
- Top brokers name 3 ASX shares to buy next week
- Here are the 3 most heavily traded ASX 200 shares on Friday
- Why are ASX 200 lithium shares falling so hard today?
- Why Atlantic Lithium, CBA, Piedmont Lithium, and Pilbara Minerals shares are dropping
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 positions in and has recommended Lovisa and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended Lovisa. 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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