It has been a very disappointing start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index has fallen 0.4% to 6,242.5 points.
Four shares that have defied the market and pushed higher are listed below. Here's why they have started the week on a high:
The Domino's Pizza Enterprises Ltd (ASX: DMP) share price has pushed 2.5% higher to $49.00 after the release of a positive broker note out of Morgan Stanley. According to the note, the broker has retained its buy rating and lifted the price target on the pizza chain operator's shares to $65.00 from $55.00. The broker is particularly bullish on the long-term growth potential of its European business.
The G8 Education Ltd (ASX: GEM) share price has risen 5% to $2.50. Investors have been fighting to get hold of the childcare centre operator's shares amid speculation that it could be a target of private equity. I would suggest investors stay clear of the company because if a takeover bid fails to materialise, its shares could come crashing lower.
The Liquefied Natural Gas Ltd (ASX: LNG) share price has stormed a further 6% higher to 62 cents. Last week the liquefied natural gas company's shares raced higher after two of its directors bought a large number of shares through on-market trades. This could be a sign that these insiders see a lot of value in the company at this level.
The Select Harvests Limited (ASX: SHV) share price is up 3% to $5.89 after announcing plans to launch its Lucky nuts brand in China through PepsiCo China. According to the release, the products will be produced and supplied by Select Harvests, with PepsiCo China responsible for marketing, sales, and distribution. Management believes this is a remarkable opportunity for the brand. While I agree, I think its shares are fully valued now and would suggest investors wait for a better entry point.
