Here’s why analysts love these buy-rated ASX 200 growth shares

If you have room in your portfolio for some new ASX 200 growth shares this month, then it could be worth checking out the two listed below.

That’s because they have recently been named as buys and tipped to rise meaningfully from current levels.

Here’s what you need to know about these growth shares:

Flight Centre Travel Group Ltd (ASX: FLT)

Morgans continues to feel bullish about Flight Centre and believes it could be an ASX 200 growth share to buy.

The broker has previous stated that the “benefits of FLT’s transformed business model” mean that the company is “well placed over coming years.”

This certainly was the case in the first half of FY 2024. Flight Centre reported a 15% jump in total transaction value to $11.3 billion even as discretionary spending dropped across the economy.

This went down well with Morgans, which reiterated its add rating and lifted its price target to $27.27. This implies potential upside of 29% for investors from current levels.

The broker also highlights that it believes Flight Centre is well-positioned to deliver on its earnings guidance in FY 2024.

TechnologyOne Ltd (ASX: TNE)

The team at Bell Potter thinks that enterprise software provider TechnologyOne could be an ASX 200 growth share to buy this month.

Earlier this week, the broker upgraded its shares on the belief that a strong half-year result is coming in May.

It also notes that if TechnologyOne does deliver the goods, it could set the scene for a re-rating of its shares. It commented that if its net revenue retention (NRR) metric remains 115%+, it “suggests the outlook remains positive and the company can double revenue every five years or so via organic growth alone.”

Bell Potter has a buy rating and $18.50 price target on Technology One’s shares. This implies 10% upside for investors from current levels.

The post Here’s why analysts love these buy-rated ASX 200 growth shares appeared first on The Motley Fool Australia.

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More reading

• Why these ASX 200 growth shares could be top buys now
• Why Bannerman Energy, Cettire, TechnologyOne, and Zip shares are charging higher
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• Guess which ASX 200 tech stock has just been upgraded
• 5 things to watch on the ASX 200 on Monday

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 Technology One. The Motley Fool Australia has recommended Flight Centre Travel Group and Technology One. 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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