The S&P/ASX 200 index is on course to finish the week on a very positive note. In afternoon trade the benchmark index is up a sizeable 0.7% to 6,779.9 points.
Four shares that are climbing more than most today are listed below. Here’s why they are ending the week on a high:
The Bapcor Ltd (ASX: BAP) share price is up almost 3% to $7.47. This gain appears to have been driven by a broker note out of Morgan Stanley. According to the note, its analysts have retained their overweight rating and lifted the price target on its shares to $8.10. The broker appears pleased with Bapcor’s recent acquisitions which give it exposure to the truck industry.
The GrainCorp Ltd (ASX: GNC) share price has surged over 8% higher to $8.36. This morning the Australian Competition and Consumer Commission revealed that it will not oppose the proposed sale of its Australian Bulk Liquid Terminals business to ANZ Terminals. The company believes the sale will release capital and unlock significant value for its shareholders.
The Link Administration Holdings Ltd (ASX: LNK) share price is up 4% to $6.02 following the release of its annual general meeting presentation. Investors appear pleased that the company reaffirmed its guidance for FY 2020 at the event. This was for FY 2020 Operating EBITDA from continuing operations (excluding CPCS and LMS South Africa) to be broadly in-line with FY 2019 for the full year. The result is expected to be weighted towards the second half.
The NEXTDC Ltd (ASX: NXT) share price has climbed 4% to $6.93 thanks to a broker note. According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted the price target on its shares to $7.70. This follows reports that the data centre operator has won a major contract from the Bureau of Meteorology.
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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 Link Administration Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended Link Administration Holdings Ltd. 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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