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Are these mid cap growth shares in the buy zone?

If you’re a fan of growth shares like I am then I think the mid cap side of the market is a great place to look for investment options.

Three mid cap growth shares that I think have a lot of potential are listed below. Here’s why I like them:

Bellamy’s Australia Ltd (ASX: BAL)

One of my favourite growth shares in the mid cap space is this organic infant formula company. Although its growth in FY 2019 will be well below average, management remains confident that things will accelerate over the next couple of years. It is targeting sales of $500 million in FY 2021, up from $329 million in FY 2018. The key driver of this growth is expected to be the launch of Chinese label products in the massive market in 2019.

Collins Foods Ltd (ASX: CKF)

Collins Foods is best-known as one of Australia’s largest operators of KFC restaurants. As well as operating these restaurants in Australia, Collins Foods also has a growing network of restaurants in the European market. I believe there is a massive market opportunity for the brand in Europe, which potentially gives the company a long runway for growth. This should also be supported by the company’s decision to expand the Taco Bell brand in the Australian market.

Megaport Ltd (ASX: MP1)

Megaport is a provider of elastic interconnection services in data centres across the world. This service is growing in popularity and looks set to continue doing so for the foreseeable future thanks to the cloud computing boom. While its shares are certainly high up on the risk scale, I think they could be worth considering if your risk profile allows. In FY 2018 Megaport delivered an 85% increase in annual revenue thanks to growing demand and its expanding footprint.

And here are more mid cap tech stars that have been tipped for big things in 2019

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia has recommended Collins Foods Limited. 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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