If you're looking for ASX 200 stocks with strong growth potential to buy in October, then look no further.
That's because, listed below are two top stocks that analysts are feeling bullish on and are tipping to generate big returns for investors. Here's why they think they are buys right now:
Image source: Getty Images
NextDC Ltd (ASX: NXT)
The first ASX 200 growth stock that has been named as a buy is data centre operator NextDC.
Goldman Sachs is a big fan of the company and believes it is well-placed for growth over the coming years. This is due largely to the structural shift to the cloud and the artificial intelligence (AI) boom.
In respect to the AI boom, the broker believes that the "DC industry will benefit from a 'third wave of demand', with generative AI requiring 5-10x more compute vs. traditional search." This bodes well for NextDC's growing network of world-class data centres across Australia and the Asia-Pacific region.
Goldman Sachs currently has a buy rating and $15.80 price target on the company's shares. This implies potential upside of 30% for investors over the next 12 months.
Webjet Limited (ASX: WEB)
Another highly rated ASX 200 growth stock that has been named as a buy is online travel booking company Webjet.
The team at Citi is very positive on the company. This is due partly to the broker's belief that "the macro is still more supportive than expectations." As a result, it continues to forecast very strong earnings per share growth through to at least FY 2026.
Citi currently has a buy rating and price target of $8.80 on Webjet's shares. This implies a potential upside of greater than 40% over the next 12 months.
