Why these 4 ASX shares are ending the week with a bang

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from its early declines and is higher by 0.3% to 6,109 points.

Four shares posting stronger than average gains today are listed below. Here’s why they are ending the week with a bang:

The Corporate Travel Management Ltd (ASX: CTD) share price has climbed 4.5% to $21.54 despite there being no news out of the travel company. But with its shares down over 11% from their 52-week high, I suspect bargain hunters have swooped in ahead of earnings season. I think Corporate Travel Management is still a great option even after today’s move higher.

The James Hardie Industries plc (ASX: JHX) share price is up almost 6% to $23.41 following the release of its third-quarter update. According to the release, the company delivered an adjusted net operating profit of US$69.9 million for the quarter and US$205.5 million for the nine months. This was an increase of 33% and 6%, respectively, compared to the prior corresponding periods.

The Nextdc Ltd (ASX: NXT) share price has raced 8% higher to $6.20 amid speculation that the data centre operator could be a takeover target of US private equity giant Blackstone. NEXTDC’s shares were given an additional boost this morning after RBC Capital increased its price target to $7.50. The broker has a conviction buy rating on its shares. Although I’m a huge fan of the company, I don’t think investors should act on this speculation.

The Nufarm Limited (ASX: NUF) share price has climbed almost 3.5% to $8.32. Today’s gain is likely to be attributable to a broker note out of Credit Suisse. That note revealed that its analysts have upgraded Nufarm to an outperform rating with a $9.21 price target. Credit Suisse appears to believe that the market under appreciates the long-term benefits that its transformation program can deliver.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management 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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