Why these 4 ASX shares have surged higher

So far it has been another disappointing day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is down by 0.1% to 5,664 points.

But not all shares have dropped lower today. In fact, four shares in particular have surged higher. Here’s why:

The HFA Holdings Limited (ASX: HFA) share price has jumped almost 4% to $2.29 today. A research note out of Ord Minnett this morning is likely to be the catalyst for today’s gain. The broker initiated coverage on the investment management company with a buy rating and $2.85 price target. According to the note, its analysts think HFA is the cheapest amongst its peers.

The Ltd (ASX: KGN) share price has climbed 4% to $1.53 after the online retailer announced that it has signed an agreement with Vodafone Hutchison Australia to launch a fixed-line NBN broadband service in 2018 and mobile broadband services in 2017. Whilst this is promising news, I am concerned about the impact Amazon will have on Kogan’s core business if it launches in Australia. For this reason I would stay clear of the retailer.

The Vocus Group Ltd (ASX: VOC) share price is up a whopping 19% to $3.41 after the fast-growing telco company advised that it had received preliminary, indicative, and non-binding takeover proposal from private equity firm KKR. The offer of $3.50 a share appears to be very cheap considering its growth prospects and I would be very surprised if shareholders accepted it.

The West African Resources Ltd (ASX: WAF) share price has rocketed 20% to 35.5 cents after the gold exploration company announced promising drilling results from its Sanbrado Gold Project in Burkino Faso. According to the release, five out of six diamond holes have now hit extremely high grades over significant widths. Great news for shareholders, but a little too high risk an investment for my liking at this point.

If you missed out on gains today I would suggest you take a look at these explosive growth shares. I'm tipping each of them for big things over the next few years. I believe this could make it an opportune time to snap them up.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Amazon. Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Vocus Communications Limited. 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.

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