Following an initial slump after Britain voted to leave the European Union, the FTSE 100 has rebounded strongly and currently stands at a 10-month high. However, not all stocks have regained all their earlier losses, with many big banks and housebuilders still trading at a 20%-30% discount to their pre-referendum levels. On the other hand, companies with large overseas earnings have massively outperformed this week, amid a fall in the value of the pound, which will no doubt boost the sterling value of their foreign earnings.

With this in mind, I believe these three growth stocks still have room to run following the Brexit vote.

Huge US dollar exposure

Shares in Shire (LSE: SHP) have already gained 16% this week, but I believe further gains may be in store for the biotech firm.

With demand significantly higher outside of the UK for the kind of expensive therapies that Shire develops to treat rare and speciality diseases, Shire earns over 95% of its earnings outside the UK, with almost three-quarters coming from the US alone. This exposes the company to the substantial fall in the pound this week, particularly against the dollar, which has gained 12% in value against sterling since the referendum.

Underlying fundamentals for Shire are attractive too. With a strong pipeline of new treatments for rare diseases, city analysts expect Shire to report robust earnings growth over the next two years. Even before we adjust for the fall in the value of sterling, underlying EPS was forecast to grow 90% this year, to £2.94. This gives shares in Shire a very tempting forward P/E of 13.5, which is exceptional value for the sector.

Impressive margins

Like Shire, over 90% of Smith & Nephew’s (LSE: SN) revenues come from outside of the UK. The medical equipment manufacturer is a market leader in endoscopy, artificial hips and advanced treatments of difficult wounds, and its competitive advantage is demonstrated by its impressive 14% operating margins.

With a forecast 5% increase in earnings this year, Smith & Nephew’s shares trade at a forward PE of 18.1. Although not necessarily cheap, its shares are reasonably priced for the company given its wide economic moat.

The shares currently offers a modest dividend yield of 2%. But, given that the payout is covered nearly three times by earnings, there’s plenty of room for dividend growth further down the line.

Dividend growth potential

Coca Cola HBC (LSE: CCH) stands out because of its massive dividend growth potential. The Coca-Cola bottling company operates across eurozone and Eastern European markets, and reports its earnings in euros, which means it too stands to benefit from the falling value of sterling. But on top of this, demand for its products is rather non-cyclical, which should mean any potential economic slowdown in Europe would have a limited impact on its sales and earnings.

A recent trading update from the company may be cause for optimism. Growth in volumes remains strong in emerging markets, and the effect on earnings has only been offset by adverse currency movements. But, as currencies have moved in the opposite direction, the underlying strong trend in volumes should now lead to improved earnings.

Furthermore, with the company paying out just 46% of its earnings as a dividend, there’s plenty of scope for further increases in shareholder payouts. Shares in Coca Cola HBC currently yield 2.2%, and are forecast to rise to 2.4% this year.

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Jack Tang has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.