When analysts put price targets on a company's shares, it indicates where they believe they could be trading in 12 months.
And while they don't always get it right, it can be a useful guide to understanding the potential rewards on offer from a particular share.
With that in mind, listed below are three ASX 200 growth shares that analysts have price targets implying returns of 20%+ for investors from current levels. Here's what you need to know:
CSL Limited (ASX: CSL)
Analysts at Citi see major upside potential for this ASX 200 growth share after a period of weakness. The broker currently has a buy rating and a $325 price target on the biotherapeutics giant's shares.
Based on the latest CSL share price of $263.12, this implies a potential upside of almost 24% for investors over the next 12 months.
IDP Education Ltd (ASX: IEL)
Over at Goldman Sachs, its analysts believe that this language testing and student placement company's shares can rise strongly over the next 12 months.
The broker currently has a buy rating and a $29.65 price target on the ASX 200 growth share. This suggests a potential upside of 29% for investors between now and this time next year. It commented:
We believe IEL's premium valuation is justified given the medium-term earnings potential driven by: (1) Structural growth in multi-destination placements, supplemented by an ongoing Australian recovery; (2) Ability to grow market share in the highly fragmented Canadian and UK SP markets; (3) Reinvestment in digital capabilities to increase competitive moat and generate new earnings streams.
Treasury Wine Estates Ltd (ASX: TWE)
Morgans thinks this wine giant's shares can rise even more than the others. It has an add rating and a $14.15 price target on Treasury Wine's shares, which implies a potential upside of 34% for investors.
Its analysts highlight that "on an FY25F PE of 17.5x, TWE is trading at a material discount to its 5-year average of ~25x." Morgans also points out that a potential "key near term catalyst is China removing the tariffs on Australian wine imports."