If you're looking for big returns for your portfolio and have a penchant for ASX 200 growth shares, then look no further!
That's because the two ASX 200 shares listed below have been named as buys and tipped to rise over 40% from current levels.
Here's what analysts are saying about these shares this month:
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ResMed Inc (ASX: RMD)
Analysts at Morgans believe the Ozempic-induced sell-off of this ASX 200 growth share has created a compelling buying opportunity.
At the end of last month, the broker retained its add rating on the sleep treatment company's shares with a $32.74 price target. This suggests a potential upside of 47% for investors over the next 12 months.
Commenting on the threat of weight loss drugs. The broker said:
Management presented an epidemiological model of global OSA [obstructive sleep apnoea] prevalence through 2050, suggesting while weight-loss drugs could shave up to c15% off TAM (worst case) the market would remain large (1.2bn) and underpenetrated (<10%).
It also recently stated:
[N]othing changes our view that the company remains well placed and uniquely positioned as it builds a patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.
Xero Limited (ASX: XRO)
Goldman Sachs remains bullish on this cloud accounting platform provider following its half-year results and appears to see last week's selloff as a buying opportunity.
The broker has put a buy rating and $141.00 price target on the ASX 200 growth share. This implies a potential upside of 41% from current levels. Goldman commented:
We see Xero as very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$76bn TAM.
