3 stellar growth shares that could be quality buy and hold investments

Although last week’s market selloff has been disappointing for investors, one positive is that it has pulled down the shares of a number of popular companies to attractive levels.

Three growth shares that I think are worth considering after the market selloff are listed below. Here’s why I like them:

A2 Milk Company Ltd (ASX: A2M)

I think that a2 Milk Company could be well worth considering next week. Although there have been concerns of slowing growth in the China market, this doesn’t appear to have been the case. During the first quarter of FY 2019 the infant formula and dairy company made significant market share gains in China. Its share grew to 6.1%, demonstrating that demand for its a2 Platinum infant formula remains very strong despite increasing competition. Due to its strong brand and the rising middle class, I expect this trend to continue for the next few years, potentially making a2 Milk Company a good buy and hold investment.

CSL Limited (ASX: CSL)

Another quality buy and hold option could be CSL. The biopharmaceutical company has a long track record of creating wealth for its shareholders and I don’t expect this to change any time soon. Especially given the strength of its core business, the expansion of its plasma collection network, and its pipeline of lucrative drugs that are under development. While its shares are certainly on the expensive side, I believe the quality of the company, its management team, and growth potential more than justifies this.

Webjet Limited (ASX: WEB)

This online travel agent’s shares have come under pressure in recent weeks after it launched a capital raising to acquire Destinations of the World. This acquisition is expected to boost its B2B business which is already growing at many times the industry rate. In light of this and the inbound and outbound tourism boom that Australia is experiencing, I think Webjet has the hallmarks of being a great buy and hold investment.

Looking for more growth shares to buy? Check out these hot stocks that have been tipped for big things.

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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 A2 Milk. The Motley Fool Australia has recommended Webjet 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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