The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced off its lows but is still down 0.1% to 6,030 points in afternoon trade.
Four shares that have not let this hold them back are listed below. Here’s why they are ending the week with a bang:
The Aristocrat Leisure Limited (ASX: ALL) share price is up 4.5% to $31.37 after brokers responded positively to the gaming company’s half-year results release on Thursday. Analysts at Deutsche Bank were clearly impressed with the first-half that Aristocrat Leisure delivered. They bumped their price target up to a massive $38.75. The broker was pleased to see its Digital segment outperform its expectations. I would agree with Deutsche that this is a share to buy right now.
The Champion Iron Ltd (ASX: CIA) share price has raced 12.5% higher to $1.50 after the iron ore miner announced the shipment of its millionth tonne of quality iron ore. According to the release, its Quebec Iron Ore business has produced and shipped its first one million tonnes of high-grade 66% iron concentrate ahead of schedule after the successful restart and ramp up of Bloom Lake. Management anticipates that the mine will reach its annual full capacity of 7.4 mtpa by the end of June.
The Greencross Limited (ASX: GXL) share price has risen over 5.5% to $4.27 after the AFR speculated that private equity firms could be interested in launching a takeover of the integrated pet care company. While I do think that the report makes valid points, I wouldn’t rush into an investment purely on speculation. Especially with the company underperforming at present.
The Telstra Corporation Ltd (ASX: TLS) share price has pushed 3% higher to $2.87 after it was upgraded to a buy rating with a $3.00 price target by UBS. I would agree with UBS on this one and think that Telstra is attractive at the current share price given that a future dividend cut looks to be completely priced in now. Though it is worth remembering that it is a riskier investment than normal given the tough trading conditions being experienced in the telco space.
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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 Greencross Limited and Telstra 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.