Do you have room in your portfolio for some new ASX 200 growth shares in February? If you do, then it could be worth checking out the two listed below.
They have recently been named as buys by brokers and tipped to rise 40%+ over the next 12 months.
Here's what you need to know about these top growth shares:
Megaport Ltd (ASX: MP1)
The first ASX 200 growth share that could be a buy according to analysts is Megaport.
It is a technology company aiming to change how businesses connect their infrastructure, with one smart and simple platform to manage every connection. It allows users to build secure, scalable, and agile networks in just a few clicks, accessing global endpoints and creating private paths in minutes.
Megaport currently partners with global service providers, data centre operators, systems integrators, and managed services companies, and operates in 930+ enabled locations worldwide.
Morgans is very positive on the company. This is due to its belief that Megaport stands to benefit greatly from the artificial intelligence (AI) megatrend. It said:
Megaport is a global cloud connection network and the leading Network as a Service provider. It operates the largest data centre connection business in the world, connecting to 850 data centres through a fully automated, on-demand telco network. We think it is uniquely placed to help business move data globally and benefit from the growth of data related to both cloud computing and AI.
The broker has an add rating and $12.50 price target on its shares. This implies potential upside of 40% for investors over the next 12 months.
Web Travel Group Ltd (ASX: WEB)
Another ASX 200 growth share that could be a buy according to analysts is Web Travel Group.
It is a global business to business (B2B) organisation servicing the travel industry. It connects hotels and other travel sellers to a diverse network of travel buyers all over the world through its trade only digital travel marketplace brand – WebBeds.
Goldman Sachs is positive on the company's outlook and feels that recent weakness has left its shares trading at an attractive level. The broker said:
WEB is the second largest Hotel Bed wholesaler globally with <10% of the global hotel wholesale market. We are Buy rated on WEB as we have confidence that WEB will be able to grow TTV in line with its FY25/30 targets of A$5bn/A$10bn respectively. In particular, we believe WEB is well placed to continue to grow in key US/APAC growth markets, though expect revenue margin to lower towards ~6.3% over time as the company expands into lower margin US/APAC markets. WEB is trading below fair value, on our estimates.
Goldman has a buy rating and $7.00 price target on its shares. Based on its current share price of $4.93, this suggests that upside of 42% is possible for investors.
