Why these 4 ASX shares surged higher today

The Ardent Leisure Group (ASX:AAD) share price is one of four surging higher on Wednesday. Here's why…

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After a slow start to the day, in afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is pushing higher. At the time of writing the benchmark index is up slightly at 6,074 points.

Four shares climbing notably higher today are listed below. Here's why they surged higher:

The Adairs Ltd (ASX: ADH) share price is up almost 5% to $1.67 after the release of a positive broker note out of UBS. The broker retained its buy rating and increased its price target on the homewares retailer to $2.10. Its analysts believe Adairs could be having a strong December and have increased their half-year sales growth forecast to 7%.

The Ardent Leisure Group (ASX: AAD) share price has jumped almost 10% to $1.90 after announcing the sale of its Bowling & Entertainment division to The Entertainment and Education Group for $160 million. Management intends to use the funds on the expansion of its Main Event brand and the recovery of its theme parks.

The Orocobre Ltd (ASX: ORE) share price has climbed 6.5% to $7.06 thanks to a broker upgrade by Morgans. The broker made the move following Orocobre's recent pricing update. It expects the lithium miner to command a price of US$13,750 a tonne during the next half and beyond. This could possibly lead to bumper profit growth and high levels of free cash flow.

The Villa World Ltd (ASX: VLW) share price is up 5.5% to $2.67 after the property developer provided a trading update. Management has reaffirmed its net profit after tax guidance of at least $41.6million in FY 2018, up from $37.8 million the previous year.

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.

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