If you're looking for ASX 200 growth shares to buy, then look no further.
That's because Morgans has recently named some among its best ideas for the month of May.
Two that make the cut are listed below. Here's why it is very bullish on them:
Corporate Travel Management Ltd (ASX: CTD)
This corporate travel booker has been named as an ASX 200 growth share to buy by Morgans. It has the company on its best ideas list with an add rating and $24.00 price target.
The broker believes Corporate Travel Management is well-placed for growth thanks to acquisitions it made during the pandemic, cost reductions, and its focus on technology. It explains:
Taking a longer term view, CTD remains as a key pick for the travel sector. We see substantial upside in its share price as the company recovers from the COVID affected travel downturn. In fact, CTD should be a materially larger business post COVID given it has made two highly accretive acquisitions during the downturn. The company has also won a lot of new business, implemented structural cost out opportunities and continued to develop its market leading technology offering which means that it will require less staff in the future. CTD is well managed and has a strong balance sheet (no debt).
Lovisa Holdings Ltd (ASX: LOV)
When it comes to ASX 200 growth shares, there are few with a better long-term outlook than Lovisa. Thanks to its global expansion plans and the popularity of its products with young consumers, it has been tipped to grow very strongly over the coming years.
Morgans certainly expects this to be the case. It has the fast fashion jewellery retailer on its best ideas list with an add rating and $28.50 price target. The broker commented:
We think it may prove to be one of the biggest success stories in Australian retail. With ambitious and well-incentivised new leadership in place, we think now is the time LOV steps up to become a global force. […] Investment will be needed to expand LOV's network in the US and Europe and to take it into new markets, but the returns could be stellar. We think LOV's products fill an underserved niche, offering fast fashion jewellery at prices that are attainable to a resilient target demographic.
