Looking for ASX 200 growth shares to buy? Listed below are three that are rated as buys by analysts.
Here's why they could be top options for investors right now:
NextDC Ltd (ASX: NXT)
The first ASX 200 growth share that has been tipped as a buy is NextDC. It is a leading data centre operator with a growing portfolio of world class centres across Australia. The company is also looking at expanding into the Asian market in the near future, which could provide it with significant long term growth opportunities. Morgans is very positive on the company's outlook and is expecting another strong result in FY 2023 thanks to "structural demand for cloud and colocation [which] remains incredibly strong."
The broker has an add rating and $13.30 price target on the company's shares.
ResMed Inc. (ASX: RMD)
ResMed could be another ASX 200 growth share to buy. It is a medical device company with a focus on the sleep disorder treatment market. ResMed has been growing at a strong rate over the last decade thanks to the quality of its products and its large and growing market opportunity. The latter is estimated to comprise almost one billion people with sleep apnoea globally and a little under half a billion people suffering from chronic obstructive pulmonary disease (COPD). And with the majority of these people undiagnosed, ResMed has a long runway for growth.
Macquarie is bullish on ResMed and has an outperform rating and $37.75 price target on its shares.
Xero Limited (ASX: XRO)
A final ASX 200 growth share that has been named as a buy is Xero. It is a provider of a cloud-based accounting solution used by millions of small businesses globally. From these subscribers, the company is generating significant recurring revenue. However, this revenue could still grow materially in the future. With 3.3 million subscribers and a total addressable market of 100 million according to Goldman Sachs, Xero has a huge growth runway over the next decade or two.
It is for this reason that Goldman Sachs has a buy rating and $115.00 price target on its shares.
