These top ASX 200 growth shares can rise 10% to 50%

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

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

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

Flight Centre Travel Group Ltd (ASX: FLT)

The first ASX 200 growth share that could be a buy right now is travel agent giant Flight Centre.

The team at Morgans is positive on the company, highlighting that the “benefits of FLT’s transformed business model” mean that it is “well placed over coming years.”

Morgans currently has an add rating and $26.00 price target on its shares. This implies potential upside of 21% for investors.

IDP Education Ltd (ASX: IEL)

This language testing and student placement company could be another ASX 200 growth share to buy this month according to Goldman Sachs.

It believes the company is well-placed for long-term growth thanks to structural tailwinds and its dominant market position. The broker highlights its “structural growth in multi-destination placements” and its “reinvestment in digital capabilities to increase competitive moat and generate new earnings streams.”

The broker has a buy rating and $26.60 price target on IDP Education’s shares. This suggests that over 50% upside is possible from current levels.

Lovisa Holdings Ltd (ASX: LOV)

Morgans is also fan of Lovisa and sees it as an ASX 200 growth share to buy this month.

The broker believes the rapidly growing fashion jewellery retailer is well-positioned to continue its strong form thanks to its large global expansion opportunity. It also notes that its plan to “enter mainland China in FY24, [is] paving the way for significant longer-term growth.”

The broker currently has an add rating and $35.00 price target on its shares. This implies potential upside of 12% for investors.

Megaport Ltd (ASX: MP1)

Another ASX 200 growth share to look at is Megaport. It is a leading global provider of elastic interconnection services.

It has been growing at a rapid rate in recent years thanks to the cloud computing boom. Macquarie appears to believe this strong form can continue thanks to strong near-term operating leverage and the growth of its Megaport Cloud Router (MCR) and Megaport Virtual Edge (MVE) products.

The broker recently retained its outperform rating on Megaport’s shares with an improved price target of $18.00. This suggests upside potential of 32% for investors.

The post These top ASX 200 growth shares can rise 10% to 50% appeared first on The Motley Fool Australia.

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More reading

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• 3 compelling ASX shares I’d buy if the ASX crashes again
• Is Lovisa stock a good ASX investment in April?
• 3 beaten down ASX growth shares that could be dirt cheap
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has positions in Lovisa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Idp Education, Lovisa, Macquarie Group, and Megaport. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Flight Centre Travel Group, Idp Education, Lovisa, and Megaport. 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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