If you are a fan of ASX 200 growth shares then you will be pleased to know that analysts are forecasting strong returns from the four listed below.
Here's what they are recommending to clients:
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Aristocrat Leisure Ltd (ASX: ALL)
The first ASX 200 growth share that analysts are tipping as a buy is Aristocrat Leisure.
It is one of the world's leading gaming technology companies with operations covering poker machines, real money gaming, and mobile games.
Bell Potter is bullish on the company and recently put a buy rating and $80.00 price target on its shares. This implies potential upside of approximately 40% for investors from current levels.
Lovisa Holdings Ltd (ASX: LOV)
Another ASX 200 growth share that has been tipped to rise strongly over the next 12 months is Lovisa.
It is a fashion jewellery retailer that is currently embarking on a major global expansion. At the last count, it was operating 1,075 stores across more than 50 markets.
Morgans is a big fan of Lovisa and has named it as one of its top picks in the retail sector. The broker has a buy rating and $40.00 price target on its shares, which suggests that upside of over 35% is possible from where they trade today.
NextDC Ltd (ASX: NXT)
Morgans also sees plenty of upside potential in NextDC shares at current levels.
It is one of Asia's most innovative data centre-as-a-service providers. It delivers critical power, security, and connectivity for global cloud platform providers, enterprise, and government markets from a growing network of centres across Australia and the Asia-Pacific.
Morgans recently upgraded the company's shares to a buy rating with a $19.00 price target. This implies potential upside of over 45% for investors.
Xero Limited (ASX: XRO)
A final ASX 200 growth share that could rise strongly from current levels according to analysts is Xero.
It is one of the world's leading cloud accounting platform providers. Since launching in 2006, it has grown from a handful of small businesses in New Zealand to 4.6 million subscribers globally and is generating huge recurring revenue and EBITDA.
The good news is that with an estimated market opportunity of 100 million small to medium sized businesses, Xero still has a significant growth runway.
Ord Minnett sees significant value in Xero shares. Last month, the broker put a buy rating and $200.00 price target on them. This implies potential upside of approximately 80% for investors.
