In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down almost 0.1% to 5,983 points due largely to declines in the telco sector.
Four shares which haven’t let that stop them from climbing higher are listed below. Here’s why they have posted solid gains today:
The Carsales.Com Ltd (ASX: CAR) share price is up 2.5% to $14.77 despite there being no news out of the car listings company. Last week brokers responded positively to the company’s decision to take full control of its Korean affiliate SK Encar. This led Morgans to increase the price target on its shares to $14.99.
The Impedimed Limited (ASX: IPD) share price has climbed almost 4% to 93.5 cents after Morgans spoke positively about its future prospects. The broker believes there are a number of positive announcements in the pipeline that could be the catalyst to taking the medical device company’s shares higher. It is, however, classed as a high risk investment.
The National Storage REIT (ASX: NSR) share price is up 4.5% to $1.63 following the release of the storage company’s annual general meeting presentation. According to the release, National Storage expects underlying earnings growth of between 8.3% and 13.8% in FY 2018.
The Origin Energy Ltd (ASX: ORG) share price has climbed 2.5% to $8.80 after one leading economist stated his belief that oil prices could be above US$80 a barrel by the end of 2018. According to Barron’s, Jim O’Neill believes that robust global economic growth and geopolitical risk emanating from Saudi Arabia could be the catalyst to take oil prices significantly higher.
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Motley Fool contributor James Mickleboro has no position in any of the 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.