Are you wanting to add some new ASX 200 shares to your portfolio next week? If you are, read on.
Two ASX 200 shares that could be worth considering are listed below. Here's what you need to know about them:
Image source: Getty Images
NextDC Ltd (ASX: NXT)
The first ASX 200 share to look at is data centre operator NextDC. Thanks to the structural shift to the cloud, demand for its world class data centre network has been growing at a rapid rate in recent years. This has underpinned strong revenue and operating earnings growth for many years.
Pleasingly, with this shift still ongoing, NextDC has been tipped to continue its positive form long into the future.
Morgans is a big fan of the company and has a buy rating and $13.01 price target on its shares. This compares favourably to the latest NextDC share price of $11.29.
The broker likes the company due to its "substantial structural growth, quality management, significant barrier to entry and, in our view, improving competitive advantage with regional/edge sites."
TechnologyOne Ltd (ASX: TNE)
Another ASX 200 share to look at is enterprise software provider TechnologyOne. It has been tipped to deliver strong earnings growth over the coming years thanks to its transition to a software-as-a-service (SaaS) focused business.
A recent note out of Bell Potter reveals that its analysts have retained their buy rating and lifted their price target on the company's shares to $14.25. This compares favourably to the latest TechnologyOne share price of $11.91.
The broker suspects that TechnologyOne could lift its growth targets in the near future thanks to its strong performance and the success of its SaaS transition. It notes that "Technology One has had an annual growth target of 10-15% growth in NPAT for a decade but we believe there is potential for the company to lift this annual target to 15-20% at some stage in the next few years."
