Why these 4 ASX shares are surging higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is having a bit of a mixed day today and is currently down slightly by around 0.1% to 5,367 points.

But four shares in particular have been trying their hardest to push the market into positive territory. Each has defied the market declines and posted strong gains so far today. Here’s why:

a2 Milk Company Ltd (Australia) (ASX: A2M) shares have leapt up by over 7% to $1.40 today. The jump comes on the back of news that Bell Potter initiated coverage on the company with a buy rating and a $1.81 price target. Based on yesterday’s close price of $1.31, Bell Potter’s price target offers 38% upside for investors. Analysts appear to be bullish on growing demand for its infant formula brands a2 Platinum and Aptamil from Australia-based Chinese consumers.

a2 Milk’s shares are up by around 169% in the last 12 months.

Liquefied Natural Gas Ltd (ASX: LNG) has skyrocketed once again, this time by 22% to $1. Today’s gains mean the share price has now doubled in value since Monday of last week despite there being no news out of the company. These massive gains caught the eye of the ASX, which issued a speeding ticket to Liquefied Natural Gas. Interestingly its management team said it was not aware of any reason for the recent rally in its share price. There’s more on this curious incident here.

Liquefied Natural Gas shares are still down by 73% in the last 12 months despite these gains.

Metcash Limited (ASX: MTS) shares have climbed higher today by almost 4% to $2.06. This continues the good run which has seen its share price rise by 15% in the last 30 days. Whilst no news has been released to the market, the shares have been trading at a considerable discount to rivals Wesfarmers Ltd (ASX: WES) and Woolworths Limited (ASX: WOW) for some time. I believe bargain hunters may have been snapping up shares ahead of Metcash’s full year results next week.

Metcash’s share price has now jumped by 84% since this time last year.

Webjet Limited (ASX: WEB) shares have come out of a trading halt with a bang. Its share price is up 11% to $7.03 after a two-day hiatus relating to the NZ$85 million acquisition of travel company Online Republic. New Zealand-based Online Republic specialises in car rentals, motorhome rentals and cruise packages. Which I believe makes it a great acquisition that adds both value and diversity to Webjet’s business.

Webjet shareholders have seen the value of their shares increase by 125% in the last 12 months.

Finally, if you missed out on these fantastic gains today don't worry. I would recommend this top dividend share instead. A strong yield and potential share price gains make this a great investment idea in my opinion.

Our Top Dividend Stock for 2016

Our resident dividend expert names his Top Dividend Share for 2016. Not only are the shares dirt cheap, the company is trading on a fat fully franked dividend yield. Simply click here to gain access to this comprehensive FREE investment report, including the name of this fast growing ASX dividend share. No credit card required!

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Bruce Jackson. I contribute to The Motley Fool as a freelance writer and the thoughts and opinions in this post are my own, not that of The Motley Fool’s.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.