If you have room for some new portfolio additions, then it could be worth considering the ASX 200 growth shares listed below.
Here's what you need to know about these buy-rated shares:
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Corporate Travel Management Ltd (ASX: CTD)
Corporate Travel Management could be an ASX 200 growth share to buy right now.
That's the view of analysts at Morgans, which believe the corporate travel booker is well-positioned for strong growth. This is thanks to acquisitions made during the pandemic, its cost reductions, and its market-leading technology offering. Its analysts said:
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).
Morgans has an add rating and a $24 price target on its shares. Based on the current Corporate Travel Management share price, this implies a potential upside of approximately 34%.
TechnologyOne Ltd (ASX: TNE)
Another ASX 200 growth share that could be a buy is enterprise software provider TechnologyOne.
Goldman Sachs thinks it could be a top option for investors due to its successful transition to a software-as-a-service focused business and its defensive earnings. The broker explains:
We highlight the defensiveness of TNE's core end markets of Local Government (35% of 1H23 ARR) and Education (25%), and the public sector more broadly (>75%), with growing IT spending supported by revenue streams including council rates and government funding. We see TNE's +10-15% FY23E PBT growth guidance as conservative, and believe that TNE can grow PBT >15% p.a. across FY23-25E driven by its strong ARR outlook (+18% FY22-25E CAGR) and modest margin expansion (+220bps FY22-25E).
Goldman Sachs has a buy rating and a $18.30 price target on Technology One's shares. This implies a potential upside of approximately 17% for investors.
