S&P/ASX 200 Index (ASX: XJO) shares can be some of the leading names in their industry. Companies that can achieve good growth during this difficult period ahead may be able to outperform the market.
Wilson Asset Management (WAM) is one of the fund managers that likes to look for undervalued ASX growth shares. The investment team usually tries to identify a catalyst, or an event, that could boost the share price of the business.
In an update for investors, WAM named these two ASX 200 shares as opportunities.
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Webjet Limited (ASX: WEB)
The fund manager describes Webjet as a global travel booking business spanning both wholesale and retail markets.
Last month, Webjet revealed its FY23 half-year result, which included its performance of generating $72.5 million of earnings before interest, tax, depreciation, and amortisation (EBITDA), which beat market expectations.
WAM put the performance down to WebBeds, which is Webjet's business-to-business travel wholesaler division. WebBeds' bookings and EBITDA margins beat pre-COVID levels.
The business-to-business segment benefited from a return to travel over the northern hemisphere's summer and the "substantial" market share it gained during the summer.
Webjet shares have risen 13% since 16 November 2022.
Seven Group Holdings Ltd (ASX: SVW)
Another ASX 200 share that the fund manager currently likes is this diversified company that has both operations and stakes in other businesses. It's exposed to industrial services, media, and energy.
Last month, the company held its 2022 annual general meeting (AGM). At the meeting, it maintained its earnings guidance for 2023, which can be a positive sign considering some areas of the economy may see more uncertainty.
The fund manager said Seven's businesses of WesTrac and Coates Hire are "outperforming previous guidance" presented in the FY22 result in August. Management upgraded the guidance for underlying earnings before interest and tax (EBIT).
In concluding its optimistic views on the business, WAM said:
We see further potential for growth for Seven Group Holdings' portfolio of industrial businesses driven by a favourable outlook for mining and civil infrastructure spending in Australia.
Over the last month, the Seven Group Holdings share price has risen by around 10%.
