I think there are a large number of quality shares for growth investors to choose from on the Australian market right now.
Three that have recently pulled back to attractive levels are listed below. Here's why I like them:
CSL Limited (ASX: CSL)
This global biotech company's shares have fallen 16% since peaking at $232.69 in September. I believe this is a great opportunity to pick up CSL shares with a long-term view. After all, with its growing plasma collection network and fledgling influenza business, I believe CSL can continue its strong profit growth for many years to come. Last year CSL released yet another stellar full year result when it posted a 15% increase in revenue to US$7,600 million and a 29% jump in net profit after tax to US$1,730 million.
Kogan.com Ltd (ASX: KGN)
Due to a lack of guidance for the year ahead and heavy insider selling, the Kogan.com share price has tumbled a massive 46.1% from its 52-week high. I think this has left the ecommerce company's shares trading at a level that offers a compelling risk/reward. In FY 2018 Kogan.com posted revenue of $412.3 million and a net profit after tax of $14.1 million. This was a year-on-year increase of 42.4% and 110.4%, respectively. If it can deliver another strong result this year then I expect its shares will not be trading at their current level for long.
Webjet Limited (ASX: WEB)
The recent underperformance of its UK partner, Thomas Cook, has led to a selloff of this online travel agent's shares. Its shares have now fallen 21% from their 52-week high, wiping out all their post-earnings gains. I think this selloff has been overdone given how little Thomas Cook contributes to its earnings and believe now is an opportune time to pick up shares. Especially given how the outbound and inbound tourism boom continues to gather pace and more and more travel bookings are being made online.
