If you’re interested in investing in mid cap shares, then you’re in luck.
At present I believe there are a good number of mid cap shares that have the potential to grow strongly over the next 10 years.
Two mid cap ASX shares that I think are worth considering are listed below. Here’s why I like them:
BINGO Industries Ltd (ASX: BIN)
While waste management may not be the most exciting industry to invest in, I believe the potential returns on offer with BINGO shares over the next decade could be exciting. While the pandemic is likely to weigh on its near term performance, I believe its long term outlook remains very positive.
This is thanks largely to its expansion plans and the game-changing acquisition of rival Dial a Dump Industries. This acquisition has allowed BINGO to be fully vertically integrated from collections to landfill. It also makes it the largest player in building and demolition waste in Sydney and provides it with some much-needed diversification.
Megaport Ltd (ASX: MP1)
Another mid cap ASX share that I would buy with a long term view is Megaport. It is an elasticity connectivity and network services company which has been growing at an astonishing rate. Its service allows users to increase and decrease their available bandwidth in response to their own demand requirements.
This is instead of being tied to fixed service levels on long-term and expensive contracts. Due to the popularity of its service, its growing footprint in data centres globally, its first-mover advantage, and the accelerating shift to the cloud, I’m confident that Megaport’s strong growth can continue for a long time to come. Overall, I feel this could make it one of the best buy and hold options on the ASX right now.
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
More reading
- 5 of the worst performing ASX shares from last week
- ASX 200 Weekly Wrap: Blue chip shares pull ASX 200 back over 6,000 points
- These were the worst performing ASX 200 shares last week
- Why these are the top performing ASX 200 shares over the past year
- Pointerra share price soars 77% on $2.5 million placement to tech entrepreneur
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 MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. 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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