Why I would buy CSL and 2 more ASX growth shares

I’m a big fan of growth shares and feel spoilt for choice with the amount of quality options listed on the Australian share market.

Three that I think are among the best on offer right now are listed below. Here’s why they could be worth considering this month:

CSL Limited (ASX: CSL)

This global biotech company could be a great option for growth investors this month. Although its shares have been on a solid run over the last four weeks and climbed over 11%, I don’t believe it is too late to make an investment if you’re prepared to hold onto its shares for the long-term. Thanks to strong immunoglobulin demand, its expanding plasma collection network, a pipeline of lucrative products, and its fast-growing influenza business, I believe CSL is well-positioned to achieve above-average earnings growth over the coming years.

IDP Education Ltd (ASX: IEL)

IDP Education is a provider of international student placement services and English language testing services. A note out of the Macquarie equities desk this week revealed that the latest student visa data shows that strong growth trends have continued. This should put the company in a great position to build on its impressive result last year. In FY 2018 IDP Education posted a 24% increase in revenue to $487 million and a 30% lift in EBITDA to $89 million thanks to growth from all sides of its business.

Reliance Worldwide Corporation Ltd (ASX: RWC)

Reliance Worldwide is plumbing parts company best known for its push to connect SharkBite products. Although it is hardly the most exciting business to invest in, I believe it could be a very rewarding one over the long-term. Especially if its $1.2 billion acquisition of the UK-based John Guest business proves to be a success. Management believes the acquisition has a strong strategic fit and is aligned with its strategy to add complementary products and expand its market presence.

And here are three more top shares that have similarly strong growth potential as CSL.

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