Earlier today CSL Limited (ASX: CSL) demonstrated why it is regarded as one of the best buy and hold options on the Australian share market when it upgraded its full-year profit guidance. But CSL isn’t the only share on the market that would be a great buy and hold investment. Here are three more top shares that I think investors ought to consider buying with a long-term view: Altium Limited (ASX: ALU) This software-as-a-service company has been growing at an exceptionally strong rate thanks to the increasing popularity of its printed circuit board (PCB) design software. Due to the…
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But CSL isn’t the only share on the market that would be a great buy and hold investment.
Here are three more top shares that I think investors ought to consider buying with a long-term view:
Altium Limited (ASX: ALU)
This software-as-a-service company has been growing at an exceptionally strong rate thanks to the increasing popularity of its printed circuit board (PCB) design software. Due to the tailwinds of the fast-growing Internet of Things (IoT) market, I think Altium will see demand for its award-winning software continue to rise. I expect that this could lead to Altium achieving strong top line growth for many years to come.
Bingo Industries Ltd (ASX: BIN)
This waste management company could be a great buy and hold investment due to its long-term expansion plans. The company predominantly operates within New South Wales at present but plans to expand nationwide over the next decade. I believe this could fuel its growth for many years to come. In addition to this, I like the waste management industry for its defensive qualities, high barriers of entry, and solid long-term prospects due to population growth.
Xero Limited (ASX: XRO)
Xero is an accounting software provider on the rise. I have been very impressed at the way the company continues to grow its market share in the key UK and ANZ markets. While its U.S. expansion has been a touch slower than many had expected, I think investors need to be patient. Due to the quality and stickiness of its product, I remain confident that the company will eventually win a decent share of the lucrative market. But it won’t be a sprint, it will be a marathon.
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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 Altium and Xero. 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.