The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a strong start to the week and is up 0.6% to 6,099 points in afternoon trade.
Four shares that are climbing more than most today are listed below. Here’s why they are starting the week on a high:
The Accent Group Ltd (ASX: AX1) share price has risen 5% to $1.28 after the footwear retailer’s shares were the subject of a positive broker note out of Citi. According to the note, the broker has a buy rating and an increased price target of $1.40 on Accent’s shares after lifting its earnings forecasts. I would agree with Citi on this one and think Accent is a great option for investors.
The Argosy Minerals Limited (ASX: AGY) share price has climbed 3.5% to 30 cents after the junior lithium miner provided an update on its Rincon Lithium Project in Argentina. According to the release, management is targeting completion of Stage 1 processing test-works and lithium carbonate product delivery by the end of May. Further, they confirmed that preliminary off-take arrangements for Stage 1 product are advancing and work is being undertaken towards arranging potential medium and long-term off-take agreements with major battery and cathode industry participants.
The Audio Pixels Holdings Ltd (ASX: AKP) share price has pushed 4% higher to $16.81 after the audio speaker development company released an update on its progress. Management advised that its test wafer has met all mechanical and electrical criteria and specifications. It hopes that it is not far away from being able to document and publish relevant specifications and data sheets. While the technology could be game-changing, I would suggest investors give it a wide berth until a final product is functional. There have been countless issues over the last 12 months and I don’t believe we’ve seen the last of them.
The Netwealth Group Ltd (ASX: NWL) share price is up 3.5% to $7.97. With no news out of the company, the catalyst for today’s gain may have been a broker note out of UBS. Although the broker has retained its sell rating on the fintech platform provider, it has lifted the price target on Netwealth’s shares to $6.85.
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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 Scott Phillips.