The S&P/ASX 200 index is on course to post a disappointing decline for the second day in a row. At the time of writing the benchmark index is down 0.7% to 6,396.1 points.
Four shares that have not let that hold them back are listed below. Here’s why they have stormed higher:
The Blackmores Limited (ASX: BKL) share price has climbed over 4% higher to $97.23. Today’s gain appears to be attributable to a broker note out of Morgan Stanley this morning. According to the note, its analysts have upgraded the health supplements company’s shares to an equal-weight rating from underweight. The broker believes that Blackmores could benefit from increasing demand for its products due to the severe flu season Australia is experiencing.
The Lynas Corporation Ltd (ASX: LYC) share price has continued its impressive run and is up a further 3.5% to $2.86. At one stage today the rare earths producer’s shares were up as much as 12% to a 52-week high of $3.09. Investors have been snapping up its shares due to speculation that China could block rare earths exports to the United States.
The Syrah Resources Ltd (ASX: SYR) share price has rocketed 10% higher to $1.23 despite there being no news out of the graphite miner. Earlier this week analysts at Credit Suisse retained their outperform rating and lofty $3.30 price target. This price target implies potential upside of almost 170% even after today’s strong share price gain.
The Thorn Group Ltd (ASX: TGA) share price has risen 5.5% to 48.5 cents following the release of an update on its strategic review. The company advised that its “strategic review is ongoing and while some parties have expressed interest, no decisions have been made by Thorn as to the course of action that will maximise value for shareholders.” It also reminded shareholders that on Friday the company will be releasing its FY 2019 results.
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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 and has recommended Blackmores 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.