These 4 ASX shares have started the week with a bang

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to start the week with a disappointing decline. At the time of writing the index is down over 0.9% to 5,662.7 points.

Four shares that have defied the market decline today are listed below. Here’s why they have started the week with a bang:

The Afterpay Touch Group Ltd (ASX: APT) share price is up 4% to $11.76 despite there being no news out of the payments company. However, with its shares sinking notably lower again this month, I suspect that bargain hunters may be swooping in today. I’m a big fan of Afterpay Touch and think it could be a great buy and hold option. Though, it certainly is a high risk one.

The Accent Group Ltd (ASX: AX1) share price is up 3% to $1.28. Today’s gain is likely to be attributable to a broker note out of Morgans this morning. Its analysts were impressed with the footwear retailer’s recent trading update and upgraded its shares to an add rating with a $1.46 price target. At one stage Accent Group’s shares were up as much as 8% to $1.35 today.

The Ltd (ASX: KGN) share price has raced 8% higher to $3.05. This morning announced that it is launching a credit card with Citigroup. The multi-year agreement will see Citigroup issue the card, provide system infrastructure, servicing, back office processing, and branded digital platforms. Whereas, will market and distribute the credit cards and provide loyalty fulfilment.

The Super Retail Group Ltd (ASX: SUL) share price is up 4.5% to $7.51. This morning Super Retail was named as a share to buy from one of Australia’s leading brokers. According to a note out of UBS, the broker has upgraded Super Retail’s shares to a buy rating with an $8.65 price target. Although the broker believes that Christmas will be challenging for retailers and there are risks to forecasts, it sees value in Super Retail’s shares at these levels. I agree with this view. After all, its shares are currently priced at under 10x the broker’s full year earnings estimate of 77 cents per share.

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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 AFTERPAY T FPO and Super Retail Group Limited. The Motley Fool Australia has recommended Accent Group and ltd. 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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