Why Coles Group Limited (ASX:COL) is among 4 shares rising today

The S&P / ASX200 (ASX: XJO is 0.6% lower today after a couple of poor months over October and November as investors continue to worry about the impact of upcoming geopolitical risks such as Brexit or the ongoing trade dispute between the US and China.

However, there are a number of well known businesses jumping higher for differing reasons. Let’s take a look at what may be behind the price action.

The Appen Ltd (ASX: WPL) share price is up 4.8% to $12.86 as the wild daily price swings suggest investors are struggling to value the business. On November 15 Appen upgraded its profit guidance for investors to expect underlying EBITDA between $62 million to $65 million for FY 2019. Appen currently has a market value around $1.306 billion, which means it trades on 20x its own forecasts for underlying EBITDA. This is  expensive valuation and exciting growth potential contribute to the volatility in the share price.

The Coles Group Limited (ASX: COL) share price is up 2% to $13.09 today perhaps as investors react to a series of new broker ratings on the newly-minted supermarkets and bottle shop business. According to reports in the News Corp (ASX: NWS) press today Morgans Financial has put a hold rating and $12.50 share price target on Coles. Elsewhere, CLSA has taken a more positive view and put a $14.20 share price target on Coles. It may be this rating lending some buyer support to Coles shares  today.

The Biotron Limited (ASX: BIT) share price is up 20% to 23 cents today, despite the speculative biotechnology and healthcare researcher releasing no specific news to the market.

Biotron is researching drugs that could help in the treatment of HIV, and it goes without saying that success in developing drugs to beat HIV could translate into huge profits. However, it remains a very speculative bet as it has no revenue and lost $606,000 for the quarter ending September 30, 2018. As at that time it also had just $896,000 cash in hand according to its 4c update. Around $6.7 million worth of shares have been traded today.

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is up 1.5% to $12.49 today after the sleep apnea treatment business posted a net profit up 20% to NZ$97 million for the financial half-year ending September 30, 2018. Revenues climbed 12% to NZ$511.3 million for the period. It guided to expect full year net profit between NZ$205 million to NZ$210 million on expected revenue around NZ$1.07 billion. This is a good result from a solid-looking healthcare business.

JUST RELEASED: Our Top 3 Dividend Bets for 2019

NEW! The Motley Fool’s team of crack analysts has just released a timely report revealing the names and codes of their top 3 dividend share recommendations for 2019. Be among the first investors to get access—FREE, for a strictly limited time. You’ll discover the names of 3 hefty dividend paying companies with what our analysts consider to be solid growth prospects for the year ahead…

The first two offer fat, fully franked yields and the third is a surprising REIT offering you the chance to become a landlord with none of the hassle! If you’re looking for hot new ideas, look no further. But you do need to hurry. Snap up your free copy now, before supplies run out!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our top 3 dividend share recommendations right away.

Motley Fool contributor Yulia Mosaleva has no position in any of the stocks mentioned. The Motley Fool Australia owns shares in Appen 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.