Are these 3 S&P/ASX 50 stars in the buy zone?

As the name implies, the S&P/ASX 50 (Index: ^AXFL) (ASX: XFL) is home to 50 of Australia’s biggest listed companies.

Three shares on the index which have gone gangbusters this year are listed below. Should you invest in them?

This year the Aristocrat Leisure Limited (ASX: ALL) share price has risen a remarkable 49%. The gaming machine maker smashed expectations last month when it posted a 56.9% jump in half-year profit from ordinary activities after tax to $249.6 million. A key driver of the strong result was its growing digital segment. Segment profit increased 53.3% to $77.7 million due largely to the sustained popularity of its Heart of Vegas game. While I would prefer to wait for a pullback in its shares, I still feel patient buy and hold investors will do well buying in at the current share price.

The Qantas Airways Limited (ASX: QAN) share price has taken off and is up 65% since the turn of the year. Despite this massive gain, I still see significant upside potential for the airline’s shares. Low oil prices, improving demand, cost savings, and new routes are all reasons to be bullish on Qantas in my opinion. Whilst there is a risk that oil prices could rise and spoil the party, at this point in time I think there is more chance of the oil price sinking lower than climbing higher.

The Treasury Wine Estates Ltd (ASX: TWE) share price is the laggard of the group with its 27% gain in 2017. I’ve been very impressed with the work management has done with its portfolio premiumisation. The shift in its product mix to the premium end of the market has resulted in its first-half EBITS margin widening to 17.5% from 14% a year earlier. With demand in Asia and Americas growing strongly, I expect the company will deliver strong profit growth over the next few years. Whilst it shares may appear to be reasonably expensive, given its current growth outlook I think they are about fair value now.

As well as Aristocrat, Qantas, and Treasury Wine, I think investors would do well with an investment in one of these high-flying growth shares.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Bruce Jackson.

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