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Why Afterpay, Bellamy’s, Carsales, & Harvey Norman shares stormed higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a positive note. In afternoon trade the benchmark index is up over 0.6% to 6,209.3 points.

Four shares that have climbed more than most today are listed below. Here’s why they have stormed higher:

The Afterpay Touch Group Ltd (ASX: APT) share price has continued its rebound and is up 6.5% to $19.66. The catalyst for this gain could have been a number of positive broker notes that were released this week. One of those came out of Goldman Sachs. The investment bank’s analysts have a conviction buy rating and $21.00 price target on the payments company’s shares.

The Bellamy’s Australia Ltd (ASX: BAL) share price is 8% higher at $8.81. As with Afterpay Touch, investors may be responding to the recent release of positive broker notes. One of those notes was from Morgan Stanley which has held firm with its overweight rating and $10.00 price target on the infant formula and baby food company’s shares despite its weak first half.

The Carsales.Com Ltd (ASX: CAR) share price has pushed 3% higher to $13.11 despite there being no news out of the auto listings company. This latest gain means that its shares have rallied almost 15% in the space of two weeks. One person that has been buying its shares during this time is its director Kee Wong. Last month the director picked up 4,395 shares through an on-market trade for a total consideration of $50,000.

The Harvey Norman Holdings Limited (ASX: HVN) share price has climbed 4% to $3.74. This morning a note out of the Macquarie equities desk revealed that its analysts have retained their outperform rating and $4.10 price target on the retailer’s shares following its half year results release. Although the result fell a touch short of its expectations, overall it appeared pleased with the half and particularly the performance of its offshore operations.

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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. The Motley Fool Australia has recommended carsales.com 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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