If you're looking for growing ASX 200 stocks to buy, then look no further. That's because Morgans has recently named a couple that it rates very highly.
Here's why it is very bullish on them:
Lovisa Holdings Limited (ASX: LOV)
The first ASX 200 stock that could be a buy is Lovisa. It is a fast-fashion jewellery retailer with a rapidly growing global store network.
Morgans is very positive on the company due to the aforementioned store rollout. It also feels that its affordable offering leaves it well-placed in the tough economic environment. It explains:
LOV continues to impress us with the rate at which it opens new stores and expands into new markets. As we have said before, 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. Investment will be needed to expand LOV's network in the US and Europe and to take it into new markets, but the company has the balance sheet capacity to fund this and the returns could be stellar.
Morgans has an add rating and a $26 price target on its shares.
Another ASX 200 stock that Morgans rates as a buy is Webjet. It is a leading online travel agent with B2B and B2C offerings.
Morgans believes that Webjet exited the pandemic as a significantly stronger company and is well-placed for the future thanks to potential market share gains. It said:
WEB has clearly come out of COVID with a materially lower cost base, consolidated systems and a large business in the US. With plenty of market share still to win, we maintain an Add rating on this high quality growth stock.
Morgans has an add rating and price target of $8.97 on Webjet's shares.