3 stellar growth shares I would buy this week

I believe that the Australian share market is home to a great number of quality growth shares for investors to choose from.

Three quality growth shares that are at the top of my list right now are listed below.

Here’s why I think investors ought to consider buying them this week:

Aristocrat Leisure Limited (ASX: ALL)

Over the last decade this gaming technology company’s shares have provided an average annual total return of almost 15%. Thanks to its market leadership in the pokie machine space and its fledgling mobile and social gaming business, I believe there’s a good chance that these market-beating returns will continue over the next few years. This could make it a great option for investors today, especially as its shares are changing hands at just 23x estimated full year earnings.

Bellamy’s Australia Ltd (ASX: BAL)

This infant formula company’s shares have been on a tear over the last 12 months and risen an incredible 302%. Although this impressive gain has left them trading at a significant premium to the market average, one leading broker believes there is still meaningful upside left in the tank over the next 12 months. Thanks to strong demand in China and its belief that Bellamy’s will be able to lift the price of its products, Goldman Sachs has a $25.70 price target on Bellamy’s shares.

Cochlear Limited (ASX: COH)

The global population is getting older and few companies stand to benefit as much as this hearing solutions company in my opinion. This is because as people age, generally their hearing will become impaired. I expect this will lead to growing demand for Cochlear’s high quality products for many years to come, putting it in a position to continue delivering above average profit growth in the future.

But it isn't just those growth shares that could be destined to beat the market, these growth shares could also be market beaters over the next few years if you ask me.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Cochlear 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 Scott Phillips.

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