If you have room for some new portfolio additions in October, then it could be worth considering the three ASX 200 shares listed below.
Here's what you need to know about these buy-rated shares:
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Lovisa Holdings Limited (ASX: LOV)
The first ASX 200 share to look at is fast-fashion jewellery retailer Lovisa. It could be a top long term option due to the popularity of its affordable offering (potentially important in the current environment) and its bold global expansion plans. In respect to the latter, analysts at Morgans see huge potential in the US market. They highlight that in Australia there are 6 stores per million people. Whereas in the US, Lovisa only has 0.25 stores per million people. In light of this, the broker feels that this could be "the start of a period of remarkable expansion."
Morgans has an add rating and $24.50 price target on its shares.
ResMed Inc. (ASX: RMD)
Another ASX 200 share to look at is ResMed. It is a medical device company which has a focus on sleep treatment solutions. This is a great market to be in. With education around sleep disorders improving, the company's addressable market continues to increase. This bodes well for demand for ResMed's industry-leading hardware and software solutions in the coming years. Particularly given how management estimates that only 20% of sufferers have been diagnosed.
Credit Suisse is a fan of ResMed and currently has an outperform rating and $40.00 price target on its shares.
TechnologyOne Ltd (ASX: TNE)
A final ASX 200 share to look at is enterprise software provider TechnologyOne. It could be a top option thanks to its ongoing transition to a software-as-a-service (SaaS) focused business. This transition has been going very well and management expects this positive trend to continue in the coming years. In fact, it is aiming to almost double its annual recurring revenue (ARR) to $500 million by FY 2026. This also bodes well for its profit growth, given it is higher margin revenue.
The team at Bell Potter is very positive on Technology One and currently has an add rating and $14.25 price target on its shares.
