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3 top growth shares I would buy in July

This week marks the start of a new financial year for investors, which I think is a great time to look at new additions to portfolios.

If you’re a fan of growth shares then the three listed below could be worth a look in FY 2019. Each delivered strong returns for their respective shareholders in the last financial year and I expect more of the same this time around,

Here’s why I like them:

A2 Milk Company Ltd (ASX: A2M)

This infant formula and dairy company may have lost a bit of its shine over the last few weeks after its full-year sales guidance came in a little softer than expected, but there’s no denying that there is incredible demand for its premium products in China. So much so, some supermarkets have had to put its infant formula out of reach behind the counter. I believe a2 Milk is perfectly positioned to capture this demand and deliver earnings growth that justifies the lofty earnings multiple its shares trade on.

Aristocrat Leisure Limited (ASX: ALL)

This gaming technology company remains my favourite growth share on the Australian share market for a number of reasons. These include its reasonable valuation for its current growth profile, its fast-growing digital segment, and the sizeable recurring revenues this segment produces. And with the company generating a significant amount of its revenue in the United States, it could benefit greatly if the Australian dollar continues to weaken. Overall, I feel Aristocrat Leisure could grow earnings at an above-average rate for the next few years at least.

CSL Limited (ASX: CSL)

Another top growth share that I would buy today is this biotherapeutics company. Although it has provided stellar returns for its shareholders over the last 12 months, one leading broker doesn’t think it is too late to invest. Yesterday Goldman Sachs initiated coverage on CSL with a buy rating and $231.00 price target. I agree with this view and think it is destined to deliver strong profit growth for the foreseeable future thanks to the quality of its core operations, its strong pipeline of new products in development, and the success of its fledgling influenza business.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. 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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