I think it is fair to say that the past few weeks have been difficult for investors. Particularly those that invest in ASX 200 growth shares.
The dramatic selloff has seen many shares retreating sharply from their recent highs.
While it is disappointing to see your portfolio shed value, every cloud has a silver lining.
The silver lining here is that it could have created a once-in-a-decade opportunity that investors have been waiting for – a chance to buy quality ASX 200 growth shares at a discount before they rebound and potentially rocket to new highs.
But which growth shares could be worth buying right now? Let's take a look at three that analysts are tipping as buys. They are as follows:
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Lovisa Holdings Ltd (ASX: LOV)
The first ASX 200 growth share to consider buying after the selloff is Lovisa. This fashion jewellery retailer's shares have pulled back by over 7% from recent highs.
Analysts at Morgans will see this as a buying opportunity. Following a similar pullback at the end of last year, the broker commented: "Lovisa has proven it can successfully build out its unique brand in many diverse territories around the world on its journey to becoming a truly global brand. It's at times like these that investors should be getting set to reap the rewards of this strategy over the longer term."
Morgans has an add rating and $37.00 price target on its shares.
Pro Medicus Limited (ASX: PME)
Another ASX 200 growth share that was dragged lower during the market selloff is Pro Medicus. It is a leading provider of radiology information systems (RIS), Picture Archiving and Communication Systems (PACS), and advanced visualisation solutions across the globe.
Analysts at Goldman Sachs are likely to see this pullback as a great opportunity for investors to buy this high quality company. Particularly given how the broker sees "PME as the clear incumbent technology leader in a growing market with a strong financial profile and significant AI upside."
It has a buy rating and $148.00 price target on its shares.
Xero Ltd (ASX: XRO)
A final stock that could be a top option for investors is Xero. This leading cloud-based accounting software provider is another ASX 200 growth share that has been caught up in the recent selloff.
However, despite the near-term volatility, Xero's long-term growth prospects remain very bright thanks to the structural shift to the cloud. In fact, Goldman Sachs estimates that it has a total addressable market of 100 million small to medium sized businesses. This compares to its current subscriber base of 4.2 million.
Goldman believes this gives it a multi-decade growth runway. It is no surprise then that it is tipping its shares as a buy with a $180.00 price target.
