It has been another positive day of trade for the S&P/ASX 200 index. In afternoon trade it has continued its positive run and is up a sizeable 1.1% to 6,641 points.
Four shares that have climbed even more than most today are listed below. Here’s why they have raced notably higher:
The Bravura Solutions Ltd (ASX: BVS) share price is up 3% to $5.42 after the financial technology company announced that it has increased its takeover offer for GBST Holdings Limited (ASX: GBT). Bravura has revised its offer to $2.72 per share from $2.50 per share, which some investors appear to believe might just be enough to get it across the line.
The Coles Group Ltd (ASX: COL) share price has continued its push higher and is up a further 4.5% to $13.79. The supermarket giant’s shares have been on fire since the release of its refreshed strategy at its investor day on Tuesday. One broker that liked what it saw was Goldman Sachs. This morning its analysts retained their buy rating and lifted the price target on its shares to $14.10.
The Nanosonics Ltd (ASX: NAN) share price has continued its charge and is up a further 7.5% to $5.70. The infection control specialist’s shares have been on fire this week after being recommended by a fund manager at the weekend. Not even a downgrade to a hold rating by Morgans this morning has been able to stop its positive run.
The Rhipe Ltd (ASX: RHP) share price has rocketed 16% higher to $2.81 after the leading cloud channel company upgraded its full year guidance again. Rhipe now expects its full year operating profit to be at least $12.5 million in FY 2019. Looking ahead, the company is confident that its growth can continue and has provided preliminary FY 2020 operating profit guidance of approximately $16 million.
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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 Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd and COLESGROUP DEF SET. The Motley Fool Australia has recommended GBST Holdings Limited and Nanosonics 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.