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Why Aristocrat Leisure, Afterpay, Corporate Travel, and Sydney Airport are pushing higher

In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. The benchmark index is currently down 0.5% to 5,522.9 points.

Four shares that have not let that hold them back are listed below. Here’s why they are pushing higher:

The Aristocrat Leisure Limited (ASX: ALL) share price is up 2% to $26.60. The catalyst for this gain appears to be a broker note out of Citi this morning. Although the gaming technology company fell short of its expectations in the first half, it remains positive on its future prospects. So much so, it has retained its buy rating and lifted the price target on its shares to $30.10.

The Afterpay Ltd (ASX: APT) share price is up almost 2% to $44.75. Investors have been buying this payments company’s shares this week after it revealed very strong customer growth in the United States. According to its update, two years after launching in the country, it has 5 million active U.S. customers on its platform. Impressively, 1 million of these customers were added in the last 10 weeks during the pandemic.

The Corporate Travel Management Ltd (ASX: CTD) share price is up 5.5% to $11.69. Investors have been buying a number of travel booking shares on Friday despite there being no news out of them. Investors may be hopeful that the potential development of a successful vaccine could unlock global borders and accelerate the recovery of international tourism.

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is up 1.5% to $5.67. This follows the release of its virtual annual general meeting presentation this morning. That presentation revealed that the airport operator has no plans to raise equity in the near future. The company also confirmed there will be no interim distribution in FY 2020. Looking ahead, it will be waiting for clarity on the path to recovery before confirming future distribution plans.

These 3 stocks could be the next big movers in 2020

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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 owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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