If you have room for some new portfolio additions, then it could be worth considering the three ASX 200 growth shares listed below.
Here's what you need to know about these buy-rated shares:
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. 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 $22.70 price target on its shares.
Lovisa Holdings Limited (ASX: LOV)
Another ASX 200 growth share that could be a buy is fast-fashion jewellery retailer Lovisa. It could be a top long term option due to the popularity of its affordable offering and its huge global expansion plans. In respect to the latter, analysts at Morgans have suggested that "LOV may just prove to be one of the biggest success stories in Australian retail. LOV is showing every sign of becoming a global brand."
Morgans has an add rating and $28.50 price target on its shares.
TechnologyOne Ltd (ASX: TNE)
A final ASX 200 growth share that could be a buy is enterprise software provider TechnologyOne. It could be a top option thanks to its ongoing and highly successful transition to a software-as-a-service focused business. This transition has been going very well and management expects this positive trend to continue in the coming years. In fact, it is aiming to almost double its annual recurring revenue (ARR) to $500 million by FY 2026. However, the team at Bell Potter believes it will get there a year earlier than planned and is expecting a guidance upgrade in the near future.
Bell Potter has a buy rating and $17.00 price target on Technology One's shares.
