If you have a penchant for ASX 200 growth shares, then you might want to look at the three listed below.
That's because all three have recently been named as buys by analysts with meaningful upside potential. Here's what you need to know about them:
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Altium Limited (ASX: ALU)
The first ASX 200 growth share to look at is Altium. It is the leading printed circuit board (PCB) design software provider behind the Altium Designer and Altium 365 platforms.
Altium has been growing its sales and earnings at a consistently strong rate for years thanks to favourable tailwinds and the popularity of its platform with some of the biggest companies and organisations in the world.
The good news is that these tailwinds, which are being underpinned by the AI and the IoT megatrends, show no signs of slowing. This bodes well for the company's growth over the remainder of the decade. It also explains why management is aiming to more than double its revenue to US$500 million by 2026.
Analysts at Morgan Stanley currently have an overweight rating and $43.50 price target on its shares.
Pilbara Minerals Ltd (ASX: PLS)
Another ASX 200 growth share to consider buying is lithium giant Pilbara Minerals.
Although lithium prices have been softening, they are still at extremely high levels compared to just a few years ago. Combined with Pilbara Minerals' major production expansion plans and downstream activities, it has been tipped to continue posting bumper profits for the foreseeable future.
It is for this reason that Macquarie currently has an outperform rating and $7.70 price target on Pilbara Minerals' shares.
ResMed Inc. (ASX: RMD)
A final ASX 200 growth share that has been named as a buy is ResMed. It is a medical device company with a focus on the sleep treatment market.
This is a huge (and growing) market to be in, with the company estimating that 1 in 5 people suffer from sleep apnoea. And with the majority of people still undiagnosed, this gives ResMed a huge growth runway over the next decade and beyond.
Morgans is very positive on the company. So much so, it has ResMed on its best ideas list with an add rating and $37.80 price target.
