Morgans names the best ASX 200 growth shares to buy in April

If you’re looking for ASX 200 growth shares to buy, then look no further!

The team at Morgans has named a number of growth shares on its best ideas list for April.

Two growth shares that have been given the thumbs up are listed below. Here’s why it is bullish on them:

Lovisa Holdings Ltd (ASX: LOV)

The first ASX 200 growth share that Morgans rates highly enough to have on its best ideas list is this fast fashion jewellery retailer. Its analysts currently have an add rating and $28.50 price target on its shares.

The broker is bullish on Lovisa due to its global expansion plans, which it believes could generate stellar returns. It commented:

LOV is a global fast fashion jewellery brand with more than 700 stores in more than 30 countries. We think it may prove to be one of the biggest success stories in Australian retail. With ambitious and well-incentivised new leadership in place, we think now is the time LOV steps up to become a global force. LOV has accelerated its organic rollout in the US and entered into a number of new markets, including Hong Kong, Mexico, Italy, Columbia and Peru.

We believe it is poised to enter both Vietnam and Taiwan in coming months. Investment will be needed to expand LOV’s network in the US and Europe and to take it into new markets, but the returns could be stellar. We think LOV’s products fill an underserved niche, offering fast fashion jewellery at prices that are attainable to a resilient target demographic.

Xero Limited (ASX: XRO)

Another ASX 200 growth share on the broker’s best ideas list is Xero. It is a leading global cloud accounting platform provider. Morgans currently has an add rating and $97.00 price target on its shares.

The broker believes investors should be pouncing on Xero’s shares after recent weakness. It said:

XRO is a high quality cash generative business with impressive customer advocacy and duration. Over the last 12 months rising interest rates and competition have made things harder for Xero. However, we see the current short-term weakness as a rare opportunity to buy a high quality global growth company at a discount to the life time value of its current customer base.

The post Morgans names the best ASX 200 growth shares to buy in April appeared first on The Motley Fool Australia.

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More reading

• Top ASX growth shares to buy in April 2023
• ASX 200 rebounds after RBA hits pause on its rate hikes
• Morgans names 3 more of the best ASX 200 shares to buy in April
• 2 excellent ASX 200 shares I’d buy in April (and hold until at least 2030)
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Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa and Xero. The Motley Fool Australia has positions in and has recommended Xero. 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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