Why JB Hi-Fi, Lynas, Praemium, & Pro Medicus shares surged higher today

The Lynas Corporation Ltd (ASX:LYC) share price and the Pro Medicus Limited (ASX:PME) share price are two of four surging notably higher today…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 index has bounced off its lows and is trading flat at 6,499 points.

Four shares that haven't let that hold them back are listed below. Here's why they have surged higher today:

The JB Hi-Fi Limited (ASX: JBH) share price is up 1.5% to $27.20 after analysts at Goldman Sachs upgraded its shares to a buy rating with a $30.00 price target. According to the note, the broker believes things have become more favourable for the retailer following the Coalition's election victory, APRA's plan to remove the 7% serviceability buffer on home loans, and the Reserve Bank's shift to a more dovish stance.

The Lynas Corporation Ltd (ASX: LYC) share price has continued its strong run and is up 5.5% to $2.42. The rare earths producer's shares have been on fire this week thanks to the announcement of its Lynas 2025 growth plan yesterday and the U.S. and China trade war. Lynas could be a big winner from the trade war as there is speculation that China will block the supply of rare earths to the United States.

The Praemium Ltd (ASX: PPS) share price has risen over 3% to 40.7 cents. A broker note out of Goldman Sachs appears to have been the catalyst for this solid gain. According to the note, the broker has upgraded the investment platform provider's shares to a buy rating with a price target of 52 cents. Goldman made the move on valuation grounds after a sharp share price decline in 2019.

The Pro Medicus Limited (ASX: PME) share price has climbed 4% to $21.27 after being the subject of a positive broker note. According to a note out of Morgans, its analysts have initiated coverage on this health imaging IT provider's shares with an add rating and $23.69 price target. Morgans believes Pro Medicus has strong growth potential thanks to its popular Visage product suite. It has forecast strong revenue growth over the coming years and expects margins to widen, bolstering its earnings and dividend growth.

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 and recommends Pro Medicus Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Praemium Limited. The Motley Fool Australia has recommended Praemium Limited and Pro Medicus 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.

More on Share Gainers

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

3 ASX All Ords shares up 50%+ in March

These ASX shares have been on fire this month. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Share Gainers

Why Mesoblast, Patriot Battery Metals, Sigma, and Zip shares are pushing higher

These shares are having a good session on hump day. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Consumer Staples & Discretionary Shares

If you'd put $20,000 in this ASX retail stock at the start of 2023, you'd have $134,000 now

This online retailer has executed a remarkable turnaround for its investors.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to earth for ASX shares this Tuesday.

Read more »