I'm a big fan of growth shares and feel lucky to have so many at my disposal on the ASX.
But with so many to choose from, it can be hard to decide which ones to buy over others.
The good news is that brokers have done the hard work, so we don't have to. For example, two ASX 200 growth shares that have been given the thumbs up recently are listed below.
Here's why brokers think we should be snapping them up right now:
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Cochlear Limited (ASX: COH)
The first ASX 200 growth share that has been named as a buy is hearing solutions company, Cochlear.
Goldman Sachs is the broker that is bullish on the company. Its analysts currently have a buy rating and $265.00 price target on its shares.
The broker is recommending Cochlear shares as a buy due to its belief that improving trading conditions could see Cochlear outperform its guidance in FY 2023. It commented:
We believe Cochlear screens well on these fundamental factors, and largely avoids the margin uncertainties prevalent across other verticals. We expect a sequential improvement in momentum through 2H23 (further elective volume improvement and new processor launch momentum, potentially tempered by some moderation in Acoustics). We forecast above guidance in FY23E (GSe: $306m vs. $290-305m) and believe shares will now be further supported by a newly announced multi-year buyback program (GSe: $75m/year).
Treasury Wine Estates Ltd (ASX: TWE)
Another ASX 200 growth share that has been named as a buy is Treasury Wine. It is the wine giant behind popular brands including 19 Crimes and Penfolds.
Morgans is a big fan of the company and has an add rating and $15.05 price target on its shares.
Its analysts are tipping Treasury Wine to deliver strong earnings growth in the coming years. This is expected to be underpinned by its strong management team and popular brands. In addition, Morgans believes its shares are cheap compared to global peers. It explains:
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 […] 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.
