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Why these 4 ASX shares are ending the week on a high

Although it has given back some of its early gains, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week with a gain. In afternoon trade the benchmark index is up 0.1% to 6,126 points.

Four shares that are climbing more than most today are listed below. Here’s why they are ending the week on a high:

The Pendal Group Limited (ASX: PDL) share price has climbed a further 5% to $10.26. The shares of Pendal, formerly known as BT Investment Management, have been on a tear since the release of its half-year results on Thursday. One broker that was impressed was Macquarie. A note out of its equities desk reveals that its analysts have retained their outperform rating and lifted the price target on its shares to $11.00.

The Perpetual Limited (ASX: PPT) share price has pushed 5% higher to $42.75 after the fund manager announced the appointment of a new CEO. According to the release, Rob Adams will join the company as its new managing director and CEO on September 24. Adams is currently the Head of Pan-Asia at Janus Henderson Group (ASX: JHG).

The REA Group Limited (ASX: REA) share price is up 5% to $88.66 after the real estate listings company released its quarterly update. Investors appear to be pleased with the company’s 19% jump in earnings before interest, tax, depreciation and amortisation (EBITDA) before non-recurring transactions. Management advised that the impressive result was driven by the strength of the company’s residential and commercial businesses and the inclusion of the financial services business.

The Super Retail Group Ltd (ASX: SUL) share price is up 2% to $7.87 thanks to the release of a positive broker note out of Ord Minnett. According to the note, the broker has upgraded Super Retail’s shares to a buy rating with an increased price target of $9.00. I would agree with Ord Minnett and think investors ought to consider buying shares.

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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 Super Retail Group Limited. The Motley Fool Australia has recommended REA Group 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.

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