Are you wanting to add some ASX 200 growth shares to your portfolio this month?
If you are, then it could be well worth checking out the four buy-rated options listed below. Here's what you need to know about these high-quality stocks:
NextDC Ltd (ASX: NXT)
Goldman Sachs thinks that NextDC is an ASX 200 growth share to buy. It is one of the region's leading colocation service providers from its growing collection of world-class data centres.
It likes the company due to "the rapid growth in cloud adoption, which has been supported by the continued evolution of the enterprise telecommunications market, and the significant demand by both public and private investors for digital infrastructure assets."
Goldman currently has a buy rating and an $18.59 price target on its shares.
ResMed Inc. (ASX: RMD)
Another ASX 200 growth share that could be a buy in June is ResMed. It is a sleep treatment-focused medical device company with an industry-leading portfolio of hardware and software solutions.
It has been tipped to grow strongly over the long term. This is thanks largely to the quality of its products and huge market opportunity. In respect to the latter, management estimates that there are 1 billion people impacted by sleep apnoea worldwide. However, only ~20% of these sufferers are believed to have been diagnosed.
Macquarie is bullish on ResMed and has an outperform rating and a $34.85 price target on its shares.
Treasury Wine Estates Ltd (ASX: TWE)
A third ASX 200 growth share that could be a buy is Treasury Wine. It is one of the world's largest wine companies and the owner of a collection of very popular brands. The jewel in the crown is of course Penfolds.
Morgans rates the wine giant highly and believes its recent US acquisition could prove to be a great addition. It notes that the addition of DAOU Vineyards "is in line with TWE's premiumisation and growth strategy and will strengthen a key gap in Treasury Americas (TA) portfolio."
The broker currently has an add rating and a $14.03 price target on its shares.
Xero Limited (ASX: XRO)
A final ASX 200 growth share that could be a buy in June is Xero. It is a cloud accounting platform provider with ~4.16 million subscribers globally.
But if you thought this number was close to peaking, think again. Management estimates that its addressable market is 45 million subscribers, which means it has only captured a small slice of its market so far.
Goldman Sachs thinks its market opportunity could be even larger. Its analysts "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$100bn TAM."
The broker has a buy rating and a $164.00 price target on Xero's shares.
