Although blue-chip stocks like Telstra Corporation Ltd (ASX: TLS) or Woolworths Limited (ASX: WOW) offer a higher level of safety for your portfolio, very rarely do they possess the same potential as growth stocks to deliver you enormous capital gains in the short-to-medium terms.
Here are 3 stocks that are trading at fantastic prices which could drive your wealth much, much higher over the coming years…
Select Harvests Limited (ASX: SHV) is an almond producer which is set to benefit as the Aussie dollar drops, as highlighted here. The stock has dropped significantly in price recently due to weather issues affecting its crop, although the company should benefit from the ongoing drought in California (the world's largest producing region). The stock trades on a forward P/E ratio of 10.3 and offers a forecast 4.5% fully franked dividend yield.
Yellow Brick Road Holdings Ltd (ASX: YBR) is a wealth management company very early in its growth story. In fact, it hasn't even hit profitability yet! However, the low interest rate environment should see demand for the company's services continue to soar and it is expecting to announce its maiden profit in 2015. This could be an incredible time to climb on board with shares trading at just 65c apiece.
Veda Group Ltd (ASX: VED) is a data analytics company with an enormous competitive advantage whereby it holds records on 20 million people and 5.7 million businesses. Stricter credit reporting standards will soon be introduced and Veda is in a prime position to benefit. Remarkably, this company has also grown revenue every single year since FY1993, so you can rest easy knowing your money is in safe hands.
An even better ASX growth stock…
While each of the companies mentioned above could deliver enormous rewards to any investor who chooses to act today, there is another company which I am even more bullish on. It boasts excellent long-term growth potential and offers a fantastic fully franked dividend yield.
