The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down a disappointing 0.3% to 5,820 points in afternoon trade.
Four shares which have gone against the grain and pushed higher are listed below. Here's why they have started the week with a bang:
The Aventus Retail Property Fund (ASX: AVN) share price has climbed 2% to $2.12 following the release of the property group's half-year results. Aventus delivered a 3.4% increase in funds from operations (FFO) on the corresponding period to $45 million. Based on its guidance for 2% to 3% growth in full-year FFO and its distribution policy, I estimate that its shares provide a full-year 7.7% yield at this price.
The Breville Group Ltd (ASX: BRG) share price is 2% higher at $11.99. I suspect that today's gain can be attributed to a broker note out of Credit Suisse this morning. Although the broker has retained its neutral rating, it increased its price target from $11.25 to $12.70 ahead of its earnings release later this week. The broker believes the appliance maker will benefit from tax reform in the United States.
The Galaxy Resources Limited (ASX: GXY) share price has risen 5% to $3.19. The lithium miner was given a boost today from a broker note out of Citi which revealed that its analysts have upgraded it to a buy rating with a $4.60 price target. The broker appears to believe that the recent sell-off has been overdone and that potential lower future lithium prices have already been factored into its share price.
The Nextdc Ltd (ASX: NXT) share price is up 4.5% to $6.00 amid more speculation that the data centre operator could be a takeover target. According to the News Limited press, Singapore-based investment company Temasek could have its eyes on NEXTDC. At the start of the month the same media outlet speculated that US private equity giant Blackstone was planning to launch a takeover bid.
