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Why these 4 ASX shares have climbed higher today

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has unfortunately given back a lot of yesterday’s gains and finds itself down 0.3% to 6,056 points.

Four shares which haven’t let that hold them back are listed below. Here’s why they have climbed higher today:

The G8 Education Ltd (ASX: GEM) share price is up 3.5% to $3.40 following the release of a positive broker note out of Morgan Stanley. According to the note, the broker has initiated coverage on G8 Education with an overweight rating and a $4.25 price target. I would suggest investors hold off buying the childcare centre operator’s shares until it releases its full-year results next month.

The InvoCare Limited (ASX: IVC) share price is up 2% to $15.14 despite there being no news out of the funerals company. I suspect that today’s increase is likely to be down to bargain hunters swooping in after a sharp drop in its share price over the last couple of months. Its shares would have to fall a little bit more before I’d be a buyer, though.

The Livetiles Ltd (ASX: LVT) share price has climbed 6% to 63.5 cents following the release of its second-quarter update. That update revealed that annualised subscription revenue (ASR) has reached $6.9 million as of December 31 2017. This is an impressive year-on-year increase of 245% and was driven by a strong increase in customer numbers. I think LiveTiles is one to watch.

The MMJ Phytotech Ltd (ASX: MMJ) share price is up 6% to 53.5 cents after emerging from a trading halt. This morning the medicinal cannabis company advised that it plans to invest C$2.5 million in Dosecann by way of convertible debentures at a valuation of C$11.5 million. Dosecann is a consumer healthcare company focused on developing a suite of cannabis-based health and wellness products for supply to key markets globally.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended G8 Education Limited and LIVETILES FPO. 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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