There are plenty of ASX 200 growth shares for investors to choose from on the Australian share market. But which ones could be buys in January?
Three growth shares that analysts are tipping as buys are named below. Here's what you need to know about them:
Life360 Inc (ASX: 360)
The first ASX 200 growth share that could be a buy is location technology company Life360.
Goldman Sachs is a big fan of the company due partly to its "US$12bn global TAM with a large opportunity to expand its product suite." It also highlights that it is "reaching a volume/pricing inflection point, with potential structural profitability tailwinds on the horizon."
Goldman Sachs has a buy rating and a $10.50 price target on its shares.
Lovisa Holdings Ltd (ASX: LOV)
Another ASX 200 growth share that has been named as a buy is fashion jewellery retailer Lovisa.
The team at Bell Potter is bullish on the company. This is partly because of its "large global roll-out opportunity" and being "relatively better immune to consumer spend pressures given the accessibility of the product from a price point perspective."
Bell Potter has a buy rating and a $25 price target on its shares.
TechnologyOne Ltd (ASX: TNE)
Goldman Sachs also thinks that enterprise software provider TechnologyOne could be an ASX 200 growth share to buy in January.
The broker highlights that "on an earnings multiple basis we show that TNE trades at a discount to SaaS peers when adjusting for its growth outlook." In addition, it believes "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.
