3 top growth shares on my shopping list

Thankfully for growth investors there certainly isn’t a shortage of quality growth shares on the local share market.

But with so much to choose from it can be hard to decide which ones to buy. To help you on your way, I’ve picked out three of my favourites. They are as follows:

Appen Ltd (ASX: APX)

This exciting language data solutions and services company could be one of the best ways to gain exposure to the rapidly growing artificial intelligence market. Strong demand from the market led Appen to report a 44% increase in half-year EBITDA last year. Since then the company has acquired search relevance specialist Leapforce for $80 million. Pleasingly, this deal is expected to be at least 35% accretive to underlying earnings per share. Its shares trade at a premium, but I feel they are likely to prove to be worth every cent of it in the long-term.

Corporate Travel Management Ltd (ASX: CTD)

With this travel management company’s shares down around 16% from their 52-week high, I think investors ought to consider snapping them up today. The reason its shares are down significantly from their high appears to be related to CEO Jamie Pherous’ decision to offload almost 1.2 million shares following its AGM. While this has spooked some investors, it is worth noting that he still has a holding of 20 million shares. Clearly his interests are still firmly aligned with shareholders. In my opinion, this decline has left its shares trading at a very attractive level. Especially given the company’s strong long-term growth prospects in a highly fragmented corporate travel industry.

CSL Limited (ASX: CSL)

I think that CSL is one of the highest quality companies that Australia has to offer and well worth adding to your portfolio today. Thanks largely to the strength of its core business, I believe the biotherapeutics company is capable of growing its earnings at an above-average rate for the foreseeable future. Furthermore, its soon to be profitable influenza business could give its bottom line a real boost in FY 2019 and onwards.

Finally, here are even more growth shares which I think are capable of providing market-beating returns over the next few years.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of Appen Ltd. 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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