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.
