If you have room to add a growth share or two to your portfolio, then I think the three listed below could be worth considering.
I believe all three have earnings on upwards trajectories and could provide investors with strong returns over the next decade. Here’s why I would invest $3,000 into them:
a2 Milk Company Ltd (ASX: A2M)
The first growth share I would suggest investors consider buying is this fresh milk and infant formula company. It has consistently grown its earnings at a very strong rate over the last few years thanks to increasing demand for its infant formula in China. The good news is that although it is generating material sales in the key market, it still only has a relatively small market share. I believe this gives it a long runway for growth over the coming years.
Aristocrat Leisure Limited (ASX: ALL)
It has been a difficult few months for Aristocrat Leisure because of casino closures during the pandemic. However, with casinos around the world slowly reopening, demand for its industry-leading pokie machines looks set to rebound again. Combined with its fast-growing digital business, which is has been thriving during lockdown, I believe the future is very bright for this gaming technology company.
Nanosonics Ltd (ASX: NAN)
Another growth share to consider buying is Nanosonics. It is the infection control specialist behind the industry-leading trophon EPR disinfection system for ultrasound probes. The system has been growing its market share at a rapid rate in recent years, but has still only captured a relatively modest amount of it. In light of this, I expect the company to continue to grow its market share in the coming years, underpinning strong earnings growth. This should be supported by the launch of several potentially lucrative new products.
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More reading
- 3 timeless investing lessons from 2020 (so far!)
- 2 ASX shares to buy with $5000 today
- Why didn’t Warren Buffett buy more shares in the recent bear market?
- Where to invest $5,000 in ASX growth shares today
- 3 ASX 200 shares to watch this week
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nanosonics Limited. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Nanosonics Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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