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Why Aristocrat Leisure, AusCann, AVITA Medical, & Xero shares jumped higher today

The S&P/ASX 200 index has continued its positive run and pushed higher again on Thursday. In afternoon trade the benchmark index is up 0.25% to 6,300.4 points.

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

The Aristocrat Leisure Limited (ASX: ALL) share price has raced 4.5% higher to $26.77. This morning the gaming technology company was the subject of a positive broker note out of Ord Minnet. According to the note, the broker has retained its buy rating and lifted its price target on the company’s shares to $33.25 ahead of its half year results release next week.

The AusCann Group Holdings Ltd (ASX: AC8) share price has jumped almost 7% to 39.5 cents despite there being no news out of the medicinal cannabis company. However, prior to today the company’s shares were down 41% year to date. Some investors may believe that the selling has been overdone and has created a buying opportunity.

The AVITA Medical Ltd (ASX: AVH) share price has stormed almost 11.5% higher to 49 cents after the regenerative medicine company announced that the health economic model of the U.S. burn care pathway has been published in the peer-reviewed journal, Advances in Therapy. The model demonstrates that utilising AVITA Medical’s RECELL System for the treatment of in-patient burns is cost-saving or cost-neutral and results in a reduced length of hospital stay as compared to the current standard of care.

The Xero Limited (ASX: XRO) share price is up a massive 12% to $60.90 following the release of the business and accounting software company’s full year results. In FY 2019 Xero posted a 36% increase in operating revenue to $552.8 million and a 32% lift in Annualised Monthly Recurring Revenue (AMRR) to $638.2 million. This was driven by a 31% jump in total subscribers to 1.818 million and a modest rise in average revenue per user.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia has no position in any of the stocks mentioned. 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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