With a new year on the horizon, now could be an opportune time to consider making some new additions to your portfolio.
To help you on your way, I've picked out three ASX 200 shares which have been tipped as buys. They are as follows:
Image source: Getty Images
Altium Limited (ASX: ALU)
The first ASX 200 share to look at is Altium. It is an award-winning printed circuit board (PCB) design software provider. Over the last few years, Altium has earned itself a leading position in a growing electronic design market. But the company isn't settling for that and is now aiming to dominate this market with its cloud-based Altium 365 product. Analysts at Jefferies are positive on its future. The broker currently has a buy rating and $48.83 price target on its shares.
IDP Education Ltd (ASX: IEL)
Another ASX 200 share to look at is IDP Education. It is a provider of international student placement and English language testing services. While IDP was hit hard by the pandemic, it has bounced back strongly and delivered impressive growth during the first quarter. And although the Omicron variant may stifle its recovery, it has been tipped to ultimately come out of the crisis in an even stronger market position. Morgan Stanley expects this to be the case. As a result, it has put an overweight rating and $40.20 price target on the company's shares.
NEXTDC Ltd (ASX: NXT)
A final ASX 200 share to look at is NEXTDC. It is a leading data centre operator with operations across Australia. It has also recently opened up offices in Singapore and Tokyo with a view to expanding into these potentially lucrative markets. This could give its already strong growth a boost, especially thanks to the increasing demand for its services due to the structural shift to the cloud. Goldman Sachs is very positive on its future and is forecasting operating earnings growth of ~20% per annum through to at least FY 2024. Goldman has a buy rating and $14.40 price target on the company's shares.
