The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a high and is up 0.4% to 5,839 points in afternoon trade.
Four shares that are climbing more than most today are listed below. Here’s why they are ending the week with a bang:
The Aristocrat Leisure Limited (ASX: ALL) share price has risen 3% to $24.22. With no news out of the gaming technology company, I suspect today’s gain is a delayed reaction to a broker note out of Goldman Sachs on Thursday. That note revealed that Goldman had reinstated coverage on Aristocrat Leisure with a conviction buy rating and a $30.70 price target. I would agree with Goldman on this one and think it would be a great investment.
The Fletcher Building Limited (ASX: FBU) share price has jumped 10% to $6.10 after a report in the Sydney Morning Herald speculated that Wesfarmers Ltd (ASX: WES) was looking at acquiring the New Zealand-based construction and industrial materials company. According to the report, sources have told the news outlet that Wesfarmers may have recently bought a 3% to 4% stake in the company. Fletcher Building isn’t aware of any investment by the conglomerate.
The Primary Health Care Limited (ASX: PRY) share price has pushed 6.5% to $3.89. Today’s gain is likely to be attributable to a broker note out of Ord Minnett which reveals that its analysts have upgraded its shares to an accumulate rating from hold. The broker has also raised the price target on its shares to $4.30 from $3.50.
The Seven West Media Ltd (ASX: SWM) share price has surged 9% to 56.2 cents after announcing that it has been informed by Cricket Australia that it is the successful bidder with Foxtel for the cricket rights previously held by Nine Entertainment Co Holdings Ltd (ASX: NEC). Contracts are being finalised but are not yet signed and a full announcement will be made on signing later this afternoon.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers 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 Scott Phillips.