Analysts say investors should buy these ASX 200 growth shares

Are you wanting to add some new ASX 200 growth shares to your portfolio this week? If you are, read on.

Three ASX 200 shares that have been tipped as buys are listed below. Here’s what you need to know about them:

Breville Group Ltd (ASX: BRG)

The first ASX 200 growth share that has been tipped as a buy is leading appliance manufacturer, Breville. Goldman Sachs is a fan of the company and believes it is well-placed to continue its solid growth in the coming years. In fact, it is forecasting an EBITDA compound annual growth rate of 7% between FY 2023 and FY 2025. This is being driven by the “strong premium coffee in-home consumption trend and competitive advantage in premium brand and product.”

The broker currently has a buy rating and $24.70 price target on its shares.

NextDC Ltd (ASX: NXT)

Another ASX 200 growth share that could be in the buy zone is data centre operator NextDC. Morgans is very positive on the company and expects another strong result in FY 2023. This is partly due to its belief that “[s]tructural demand for cloud and colocation remains incredibly strong.” It also expects “significant new customer wins” thanks to the opening of the new M3 and S3 data centres.

Morgans has an add rating and $13.30 price target on the company’s shares.

TechnologyOne Ltd (ASX: TNE)

A final ASX 200 growth share that has been named as a buy is enterprise software provider TechnologyOne. Analysts at Bell Potter are very positive on the company thanks to its shift to a SaaS business model. The broker expects this to result in higher margin revenue and drive strong earnings growth over the coming years. It has also suggested that in FY 2022 “[b]oth SaaS and total ARR could positively surprise (guidance is SaaS ARR growth of >40%, we forecast 43%.”

Bell Potter has a buy rating and $14.25 price target on its shares.

The post Analysts say investors should buy these ASX 200 growth shares appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• 5 things to watch on the ASX 200 on Friday
• Analysts say these ASX 200 shares are buys in October
• These are the 10 most shorted ASX shares
• Morgans names 2 ASX 200 shares to buy with 50%+ upside

Motley Fool contributor James Mickleboro has positions in NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended TechnologyOne Limited. 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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