Whilst the current market volatility can be very unnerving, one positive way to look at it is that it has brought a number of quality shares down to attractive prices.
In light of this, here are two ASX shares that I would consider buying next week when the market re-opens.
Collins Foods Ltd (ASX: CKF)
I think this KFC-operator is well worth considering as a buy and hold investment due to the long runway for growth it has thanks to its European expansion. Furthermore, unlike its industry peer Domino's Pizza Enterprises Ltd (ASX: DMP), Collins Foods shares change hands on an undemanding earnings multiple of just 18x trailing earnings.
I'm not alone in thinking Collins Foods is attractive. A broker note out of Morgans today reveals that its analysts have initiated coverage on the company with an add rating and $5.90 price target. This price target implies potential upside of 11.5% for its shares over the next 12 months.
Ramsay Health Care Limited (ASX: RHC)
This week's market volatility has led to this private hospital operator's shares losing 3.5% of their value. This has left them trading within sight of their 52-week low and at a level which I think is a very attractive entry price.
While FY 2018 may not be a stellar year for the company, I believe that ageing populations and increased chronic disease burden means that demand for its services will remain strong for decades to come. This could lead to above-average earnings growth for the foreseeable future, making it a great candidate for a buy and hold investment. Especially given the fact that its strong balance sheet gives it the opportunity to accelerate its growth through acquisitions or expansions. In light of this, I would choose it ahead of its industry peer Healthscope Ltd (ASX: HSO).
