3 shares I'd buy with £5,000 for 2017

Deciding which stocks to buy for 2017 can be a tough task. After all, the outlook for the stock market is decidedly uncertain and next year could prove to be a volatile year. As such, finding stocks that have a wide margin of safety could be crucial. These three companies offer just that, as well as upbeat growth prospects.

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A fast-growing retailer

While the supermarket sector is facing an uncertain future, Morrisons(LSE: MRW) has significant growth appeal. For example, in the 2017 financial year it's forecast to increase its bottom line by 35%, followed by further growth of 10% in the 2018 financial year. This indicates that its current strategy is working well, with customers returning to Morrisons now that it has refocused on its core offering of good quality products at low prices.

Morrisons has also made use of its status as a major food producer through a tie-up with Amazon on its grocery delivery offering. Furthermore, Morrisons is also returning to convenience stores via its retired Safeway brand. This allows it to access what remains a fast-growing space without large capital expenditure. As such, now could be an excellent time to buy it for 2017 and beyond.

A rapidly growing online play

Still with food, online takeaway delivery specialist Just Eat(LSE: JE) continues to offer growth at a very reasonable price. It's expected to record a rise in its bottom line of 69% this year, followed by growth of 50% next year. This puts it on a price-to-earnings growth (PEG) ratio of 0.7, which indicates that it has a wide margin of safety.

As well as high potential rewards, Just Eat also has a low risk profile. Its operations are becoming increasingly geographically diversified and this should provide it with a more resilient income stream. It also has the financial firepower to expand further and also to reinvest in its product. This may aid with improving customer loyalty and provide the business with a wider economic moat over the coming years.

An improving consumer stock

The last few years have been tough for consumer goods company PZ Cussons (LSE: PZC). Weakness in its most important market, Nigeria, has contributed to a decline in earnings in the last two years, with 2016 forecast to make it a third in a row. Despite this, it's expected to make a comeback in 2017 with growth of 7%. This is in line with the wider index's growth rate, as well as a number of the company's sector peers.

Despite this, PZ Cussons trades on a price-to-earnings (P/E) ratio of 16.7. This is relatively inexpensive given its geographic diversity and long-term growth prospects in the emerging world. Although the near term could prove volatile if key markets remain unstable, investor sentiment could pick up in 2017 if PZ Cussons is able to deliver on its potential.

But will any of the three stocks make you a millionaire?

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Peter Stephens owns shares of Morrisons. The Motley Fool UK owns shares of PZ Cussons. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.