If you're looking for ASX 200 growth shares to buy, then look no further!
The team at Morgans has named a number of growth shares on its best ideas list for March.
Three growth shares that have been given the thumbs up are listed below. Here's why it is bullish on them:
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Treasury Wine Estates Ltd (ASX: TWE)
Morgans is a fan of this wine giant and believes it is destined to deliver strong earnings growth over the coming years. This follows its successful internal restructure and solid demand for luxury wine.
The broker has an add rating and $15.05 price target in its shares. It commented:
TWE owns much loved iconic wine brands, the jewel in the crown being Penfolds. We rate its management team highly. The foundations are now in place for TWE to deliver strong earnings growth from the 2H22 over the next few years. Trading at a material discount to our valuation and other luxury brand owners, TWE is a key pick for us.
Webjet Limited (ASX: WEB)
This online travel agent could be an ASX 200 growth share to buy according to Morgans. It has an add rating and $7.20 price target on its shares.
The broker believes Webjet's shares are attractively priced based on its positive long term outlook. It said:
Based on our forecasts, WEB is trading on an FY24 recovery year PE which is at a discount to its five-year average PE (pre-COVID). Its WebBeds (B2B) business is highly leveraged to the northern hemisphere summer holiday season which is forecast to be strong. Webjet OTA is leveraged to ANZ domestic and international travel. Management also wasted a crisis and cost reduction initiatives will reduce its cost base by 20% across the group once the business returns to scale.
Xero Limited (ASX: XRO)
Finally, this cloud accounting platform provider could also be an ASX 200 growth share to buy this month. Morgans believes the company's shares are great value and that this is a rare buying opportunity for investors.
It has an add rating and $97.00 price target. The broker commented:
XRO is a high quality cash generative business with impressive customer advocacy and duration. Over the last 12 months rising interest rates and competition have made things harder for Xero. However, we see the current shortterm weakness as a rare opportunity to buy a high quality global growth company at a discount to the life time value of its current customer base.
