If you’re on the lookout for ASX 200 shares to add to your portfolio, then the two listed below could be worth a closer look.
Here’s what you need to know about these shares right now:
The first ASX 200 share to look at is Altium. It is an electronic design software provider that is best-known for its industry-leading Altium Designer and Altium 365 platforms. The company also has a parts search engine called Octopart that is performing exceptionally well thanks to supply chain disruption.
All in all, Altium appears well-placed for growth over the next decade. Particularly given the growing internet of things and artificial intelligence markets, which are driving strong demand for electronic design software.
Bell Potter currently has a buy rating and $34.00 price target on Altium’s shares. Its analysts “believe the company is on track to achieve its FY22 guidance and expect much better subscriber growth in 2HFY22 relative to 1HFY22.”
Another ASX 200 share that could be a top option for investors next week is Xero.
It is a cloud accounting platform provider with ~3.3 million subscribers globally. And while this is a large number and Xero is generating material recurring revenue from these subscribers, it is still only a fraction of its addressable market. Management estimates that to be 45 million subscribers, which means it has only captured 7.3% of its market so far.
Goldman Sachs is a big fan of Xero. Its analysts believe the company is “well-placed to navigate this uncertainty given the stickiness & importance of its software.”
The broker has a buy rating and $113.00 price target on Xero’s shares.
Source: Read More