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Why these 4 ASX shares are surging higher today

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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.

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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

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.

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