Big returns could be coming for these ASX 200 growth shares in 2024

Analysts have buy ratings on these growth shares for a reason.

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If you have room for some ASX 200 growth shares in your portfolio, then it could be worth looking at the three listed below.

Here's what you need to know about these buy-rated shares:

Flight Centre Travel Group Ltd (ASX: FLT)

Flight Centre could be an ASX 200 growth share to buy according to analysts at Morgans.

The broker highlights that "with confidence that the travel recovery has much further to go and the benefits of FLT's transformed business model emerging, we think the company is well placed over coming years."

Morgans has an add rating and a $26 price target on its shares. This implies a potential upside of 31% for investors from current levels.

Lovisa Holdings Limited (ASX: LOV)

Another ASX 200 growth share that has been given the thumbs up is fashion jewellery retailer Lovisa.

Once again, it is analysts at Morgans that are feeling particularly bullish. They believe it could be a top long-term option due to its store expansion plans. The broker has previously noted 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 a $27.50 price target on its shares. This suggests an upside of almost 15% from where its shares currently trade.

TechnologyOne Ltd (ASX: TNE)

A final ASX 200 growth share that has been named as a buy is enterprise software provider TechnologyOne.

Goldman Sachs highlights that "on an earnings multiple basis we show that TNE trades at a discount to SaaS peers when adjusting for its growth outlook, and we believe TNE's dominant market position, defensive end markets and mission-critical systems can command a premium valuation."

Goldman has a buy rating and $18.05 price target on Technology One's shares, which implies a potential upside of 19% for investors.

Motley Fool contributor James Mickleboro has positions in Lovisa. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Lovisa, and Technology One. The Motley Fool Australia has recommended Flight Centre Travel Group, Lovisa, and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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