If you’re looking for growth shares, then look no further. Listed below are three ASX 200 growth shares which have been tipped for strong growth in the future.
Here’s why analysts rate them as buys:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind the Sage, Kambrook, Baratza, and eponymous Breville brands. Thanks to its investment in product development, these brands have been resonating well with consumers for many years. This has underpinned consistently solid sales and earnings growth. And with the company benefiting from favourable industry tailwinds and continuing to grow its footprint globally, the future looks bright for Breville.
Morgan Stanley is a very positive on Breville. The broker currently has an overweight rating and $36.00 price target on its shares. The broker believes a recent update from rival DeLonghi demonstrates strong industry demand.
Life360 Inc (ASX: 360)
Another ASX growth share to look at is Life360. This growing technology company is responsible for the Life360 mobile app. This market leading app is for families and offers useful features such as communications, driver safety, and location sharing. As of its last update, the company’s user base had reached over 30 million globally. This is generating significant recurring revenues and opens the door to material cross and upselling opportunities for its recently acquired businesses. These are wearables company Jiobit and items tracking company Tile.
Bell Potter is bullish on the company’s future. It currently has a buy rating and $13.51 price target on its shares. Its analysts believe its “share price [is] set for a 180.”
NEXTDC Ltd (ASX: NXT)
A final ASX 200 growth share that could be a buy is NEXTDC. If is a leading data centre operator which appears well-placed to benefit from the structural shift to the cloud. Especially given its world class network of data centres and its expansion into edge centres. The company also has its eyes on the Asia market and has opened up offices in a couple of key markets.
Citi is a fan and currently has a buy rating and $15.40 price target on NEXTDC’s shares. It believes the company’s Asian expansion is nearing following positive developments in Singapore this month.
The post 3 fantastic ASX 200 growth shares to buy appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro owns Life360, Inc. and NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Life360, Inc. 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 Bruce Jackson.
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