Why these 4 ASX shares are charging higher today

It has been a positive day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index has followed the lead of U.S. markets and climbed 0.4% to 5,747.2 points.

Four shares that are climbing more than most today are listed below. Here’s why they are charging higher:

The Afterpay Touch Group Ltd (ASX: APT) share price is up 9% to $13.90 despite there being no news out of the fintech company. Investors may be responding positively to a note out of Goldman Sachs yesterday which revealed that the broker has held firm with its buy rating and $26.15 price target after ASIC released its review of the buy now, pay later industry. Goldman believes the review to be “benign but pragmatic”.

The Collins Foods Ltd (ASX: CKF) share price has climbed 4% to $7.22. This morning a note out of UBS revealed that it has retained its buy rating and lifted the price target on the quick service restaurant operator’s shares to $7.80 following its half year results release. Collins Foods result came in ahead of the broker’s estimates.

The Freedom Foods Group Ltd (ASX: FNP) share price has pushed over 4.5% higher to $5.13 on the day of the food company’s annual general meeting. At the meeting management reaffirmed FY 2019 net sales revenue guidance of $500 million to $530 million. This compares to sales of $353 million last year and is based on increasing demand for its products in local and international markets and expected increases in capacity from its capital investment program.

The PMP Limited (ASX: PMP) share price has rocketed 16% higher to 21.5 cents. Investors have responded well to news that the commercial printing company’s director, Michael Hannan, picked up over $2.3 million worth of its shares through an on-market trade this week. PMP’s shares have fallen 56% since the start of the year.

5 Companies we like better than Afterpay Touch

When ace stock picker Scott Phillips has a buy recommendation, history suggests it can pay to listen.

Scott recently revealed what he believes are the five best ASX stocks for investors to buy right now… and Afterpay Touch wasn’t one of them! That’s right — he thinks these 5 stocks are even better buys.

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Collins Foods Limited and Freedom Foods Group 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.

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