With so many quality growth shares on the Australian share market, it can be difficult for investors to decide which to invest in.
To give you a hand I have picked out three of my favourite growth shares which I think are in the buy zone today. They are as follows:
The a2 Milk Company Ltd (Australia) (ASX: A2M) share price may have rocketed 43% so far this year, but I believe there are still significant long-term gains ahead for shareholders. Especially now the Chinese government has delayed new cross border e-commerce laws indefinitely. These laws had threatened to impact the sales of exporters into China like a2 Milk. Whilst there is always a risk that the laws will return, for now it is business as usual for the company. Because of this I think the the dairy company is a great buy and hold option.
The Altium Limited (ASX: ALU) share price has tumbled 13% in the last six months, leaving its shares changing hands at 28x trailing earnings. Whilst this is still a premium over the market average, I believe this is great value for a company with such strong growth prospects. Due to the rise of the Internet of Things, I think demand for Altium's printed circuit board software will continue to grow strongly. Management certainly expects this to be the case as well and has targeted the doubling of revenue to US$200 million by 2020.
The Mayne Pharma Group Ltd (ASX: MYX) share price has fallen approximately 27% in the last six months due largely to the company being investigated by the U.S. Department of Justice for price fixing. But as management has stated its belief that any penalties imposed will not be material to earnings, I believe this fast-growing pharmaceutical company could be a bargain buy. Especially as its shares are changing hands at under 14x annualised earnings.
