The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is having a solid day and in afternoon trade is up 0.2% to 5,725 points.
Four shares which have done a lot of the heavy lifting today are listed below. Here's why they have climbed higher:
The Collins Foods Ltd (ASX: CKF) share price has jumped almost 9% to $5.54. Today's gain appears to be related to a broker note out of UBS. That note revealed that its analysts have upgraded the KFC operator to a buy rating with a $6.00 price target following its full-year result and acquisition news. I agree with UBS and believe Collins Food is a great investment option.
The Insurance Australia Group Ltd (ASX: IAG) share price has climbed 4.5% to $6.83 today. This morning the insurance giant advised that its preliminary review of prior period reserve releases has resulted in an upgrade to its full-year margin guidance. Its margin guidance range has increased from between 10.5% and 12.5%, to 13.5% and 15.5%.
The Sims Metal Management Ltd (ASX: SGM) share price has jumped 7.5% to $15.03 after Goldman Sachs added the metals and electronics recycler to its conviction buy list. Goldman expects strong demand for ferrous scrap metal will lead to strong earnings growth for Sims Metal over the next few years. If Goldman's forecasts are accurate then it could be a great investment option. However, predicting ferrous metal demand is no easy feat.
The Sirtex Medical Limited (ASX: SRX) share price has rocketed 13.5% to $15.30 after the medical device company announced write-downs to its R&D assets and confirmed its guidance for the full year. The market appears less interested in the write-downs and more in its full-year dose growth guidance which is expected to be around 5.5%.
