The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a disappointing start to the week and declines are being seen across the board. In afternoon trade the benchmark index is down 0.8% to 6,233.5 points.
Four shares that have defied the market and climbed higher today are listed below. Here’s why they are starting the week on a high:
The Afterpay Touch Group Ltd (ASX: APT) share price has been a strong performer again and is up 7.5% to $15.45. The payment solutions company’s shares were the subject of another favourable broker note this morning. According to a note out of Ord Minnett, it has retained its buy rating and almost doubled its price target to $18.50. The broker has suggested that its shares would look cheap at this level if its U.S. expansion is a success.
The Mayne Pharma Group Ltd (ASX: MYX) share price has risen 3% to 89.2 cents. As well as announcing a small acquisition this morning, the pharmaceutical company’s shares were upgraded to an outperform rating from neutral by analysts at Credit Suisse. They have also lifted the price target on its shares to $1.00 on the belief that two new product releases could create significant value.
The Nearmap Ltd (ASX: NEA) share price has continued its impressive run and is up over 5% to $1.55. Investors have been fighting to get hold of the geospatial map technology company’s shares after its recent trading update revealed strong growth across its business. I was impressed with the growth exhibited by the company’s business in the massive U.S. market.
The Yancoal Australia Ltd (ASX: YAL) share price has climbed 3.5% to 14.5 cents. After the market closed on Friday the coal miner released a strong quarterly report for the period ending June 30. According to the release, Yancoal saw sales volumes increase 96% on the previous corresponding period, with saleable coal production up 102% in the same time.
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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 Nearmap Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.