The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to have a strong finish to the week. In afternoon trade it is up 1.3% to 6,096.1 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 Bank of Queensland Limited (ASX: BOQ) share price has risen over 3% to $10.23 after being the subject of a positive broker note out of Credit Suisse. According to the note, the broker has upgraded the regional bank’s shares to an outperform rating with an $11.40 price target. The broker feels that its shares have fallen to an attractive level and represent value for money for investors.
The Bellamy’s Australia Ltd (ASX: BAL) share price has surged 5.5% higher to $17.11 despite there being no news out of the organic infant formula company. But with its shares down 7.5% this week prior to today’s gain, I wouldn’t be surprised if bargain hunters are swooping in to pick up shares on the cheap today.
The Class Ltd (ASX: CL1) share price has climbed 2% higher to $2.67 after being upgraded by analysts at UBS. According to the note, the broker has upgraded the fintech company’s shares to a buy rating with an improved price target of $2.95. It believes Class could benefit from a quicker-than-expected shift to cloud-based SMSF accounting software.
The Sirtex Medical Limited (ASX: SRX) share price is up 4.5% to $31.01 after the regenerative medicine company announced that it has received an acceptable takeover offer from CDH Genetech Limited. The proposal has been amended to include both CDH and its strategic partner, China Grand Pharmaceutical and Healthcare. The bidders have offered $33.60 per share and fellow suitor Varian has notified Sirtex that it will not submit a matching or superior proposal.
These 3 stocks could be the next big movers in 2020
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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 Class 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.