If you have a penchant for ASX 200 growth shares like I do, then keep reading!
That's because listed below are two shares that analysts are bullish on and believe could be destined for big things in the future. Here's why they are rated as buys:
Telix Pharmaceuticals Ltd (ASX: TLX)
The first ASX 200 growth share for investors to look at is Telix Pharmaceuticals.
It is a biotechnology company that specialises in radiopharmaceuticals. The company explains that using targeted radiation to combine therapeutic and diagnostic modalities, its technology is designed to deliver focused doses of radiation with precision, regardless of where the cancer or disease is in the body.
Its flagship product is Illuccix, which is already approved by regulators and generating strong sales in the US for prostate cancer imaging. But there is more than just that. The company is advancing a deep pipeline of new radiopharmaceutical candidates targeting kidney, brain, and other cancers.
Each of these has the potential to open multi-billion-dollar global markets, which means Telix has a long growth runway if everything goes to plan and approvals are received.
Bell Potter remains very positive on Telix. It has a buy rating and $23.00 price target on its shares. Based on its current share price, this implies potential upside of approximately 65% for investors over the next 12 months.
Xero Ltd (ASX: XRO)
Another ASX 200 growth share that could be a great option for Aussie investors is Xero.
It is one of the world's leading providers of cloud-based accounting solutions for small and medium-sized enterprises (SMEs). Its easy-to-use platform is growing in popularity with businesses globally, and today serves over 4.6 million subscribers.
While Australia and New Zealand remain core markets, Xero has made big strides in the United Kingdom, North America, and Asia. Its expansion into payments, payroll, and third-party app integrations also creates multiple new revenue streams, making it more than just accounting software.
This expansion was bolstered recently with a game-changing agreement to acquire leading US based bill pay platform provider Melio for US$2.5 billion. The company believes it will help to create a market-leading accounting and payments offering in a market estimated to total 100 million SMEs.
The team at Macquarie remains bullish on the company. It recently put an outperform rating and $204.00 price target on its shares. Based on its current share price, this suggests that there is more than 100% upside between now and this time next year.
