3 buy and hold shares to snap up after today's selloff

CSL Limited (ASX:CSL) shares are one of three that I would consider snapping up after the market selloff…

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It certainly has been a disappointing day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). The benchmark index followed the lead of Wall Street and finished the day lower by a sizeable 2.7% on Thursday.

While the tech sector felt the brunt of the selloff, every single sector on the ASX posted a decline for the day.

But they say that every cloud has a silver lining and even this big dark cloud does.

Three top shares that I think would be great long-term buy and hold investments have just been pulled down to even more attractive prices.

While it may be best to let the dust settle before making a move, I'll certainly be looking at buying these shares in the coming weeks.

They are as follows:

Appen Ltd (ASX: APX)

Appen is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence. It was caught up in the tech selloff today and sank 10.5% lower to $11.25. This means that its shares are now changing hands at 34x estimated FY 2018 earnings and 28x estimated FY 2019. While this is still a premium to the market average, I think it is reasonable for its growth profile.

Aristocrat Leisure Limited (ASX: ALL)

This gaming technology company's shares fell over 2% to $27.31 on Thursday. When things calm I think this is a buying opportunity for patient long-term investors. As mentioned here, Goldman Sachs expects EPS growth of 40% this year and 26% next year. Based on this forecast the company's shares are now changing hands at under 18x estimated FY 2019 earnings. In my opinion, very few growth shares on the Australian share market offer a more compelling risk/reward than Aristocrat Leisure.

CSL Limited (ASX: CSL)

I think CSL is the ultimate buy and hold investment option on the Australian share market. It shares dropped a further 3.3% to $185.50 today, meaning they have now fallen over 20% from their all-time high of $232.69. I think its strong long-term earnings growth potential, outstanding management team, high quality business, and attractive share price make it hard to ignore CSL.

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