One thing the Australian share market is not short of is growth shares.
But with a large number to choose from, it can be hard to decide which ones to buy.
Three top growth shares that I think could generate market-beating returns for investors in 2020 are listed below. Here’s why I like them:
a2 Milk Company Ltd (ASX: A2M)
I think this infant formula and fresh milk company is one of the best growth shares on the local market. It has been growing at an exceptionally strong rate in recent years and looks well-placed to continue its strong form for many years to come. This is due to the increasing demand for its infant formula in the massive China market. Also supporting this growth should be the expansion of its fresh milk footprint in the United States.
Aristocrat Leisure Limited (ASX: ALL)
Another growth share to consider buying is this gaming technology company. I think its shares are great value considering both its strong long term growth potential and the valuations of many of its sector peers. I expect Aristocrat Leisure to deliver earnings per share of $1.58 in FY 2020. This means its shares are trading at just 22x estimated FY 2020 earnings today. This is a notable discount to many growth shares exhibiting similar growth.
Bravura Solutions Ltd (ASX: BVS)
This provider of software solutions for the wealth management, life insurance, and funds administration industries is another growth share to consider. I think it is one of the best options in the mid cap space due to its increasingly popular Sonata wealth management platform. This high quality platform has a sizeable global market opportunity and looks well-placed to capture a big slice of it. In addition to this, recent acquisitions of Midwinter and FinoComp are expected to bolster its offering and open the company up to new and lucrative markets.
The post 3 top ASX growth shares to buy in 2020 for market-beating returns appeared first on Motley Fool Australia.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Bravura Solutions 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.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019