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Why BHP, Fisher & Paykel Healthcare, Northern Star, & Next Science are racing higher

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The S&P/ASX 200 Index (ASX: XJO) has bounced back from yesterday’s heavy decline and is pushing higher in late morning trade. At the time of writing the benchmark index is up 1% to 5,054.6 points.

Four shares that are climbing more than most today are listed below. Here’s why they are on form:

The BHP Group Ltd (ASX: BHP) share price is up almost 6% to $26.65. Investors have been buying the mining giant’s shares today following the release of a broker note out of Citi. According to the note, the broker has upgraded BHP’s shares to a buy rating with a trimmed price target of $35.00. The broker believes its shares are trading at a very attractive level following a recent sharp decline.

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price has jumped 9% to $27.31. This strong gain has been driven by an update out of the healthcare company this morning which revealed a further upgrade to its guidance for FY 2019. Due to favourable currency movements and strong demand, management expects operating revenue to be approximately NZ$1.24 billion and net profit after tax to be in the range of NZ$275 million to NZ$280 million. This compares to previous guidance of $1.2 billion and NZ$260 million to NZ$270 million, respectively.

The Northern Star Resources Ltd (ASX: NST) share price has stormed 14.5% higher to $10.53. A rebound in the gold price this morning has given the gold miners a major lift on Tuesday. It isn’t just Northern Star racing higher. At the time of writing the S&P/ASX All Ordinaries Gold index is up a sizeable 6.6%.

The Next Science Ltd (ASX: NXS) share price has climbed over 6.5% to $1.55. Investors have been buying the medical technology company’s shares after it provided a coronavirus update. Although the company has experienced a slowdown in sales because of the outbreak, it revealed that it has products in its pipeline that are effective in the removal of COVID 19-like viruses.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

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In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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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