In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing the benchmark index is up 0.15% to 6,020.8 points.
Four shares that are climbing more than most are listed below. Here's why they are charging higher:
The Alumina Limited (ASX: AWC) share price is up over 4% to $1.80. The catalyst for this gain is likely to have been a broker note out of Credit Suisse today. Its analysts have upgraded Alumina's shares to an outperform rating with an improved price target of $2.00. It believes the company's outlook is improving greatly thanks to lower unit costs and a rebounding aluminium sector.
The BWX Ltd (ASX: BWX) share price has jumped 5.5% higher to $3.86. Investors have responded positively to the personal care products company's equity raising and trading update for FY 2020. This morning the company behind the Sukin brand raised $40 million via a placement to fund the development and construction of a game-changing, world class manufacturing facility. BWX also revealed a 25% increase in unaudited revenue to $187.6 million and a 30% lift in EBITDA (pre-AASB 16) to $27.5 million for FY 2020.
The Life360 Inc (ASX: 360) share price is up over 4% to $3.16. This morning analysts at Credit Suisse retained their outperform rating and lofty $4.80 price target on the family-focused app platform company's shares. This follows the announcement of new membership plans on Thursday. The broker believes this could be a step-change for Life360 and sees a potential significant re-rating of its shares in the future.
The Perpetual Limited (ASX: PPT) share price has climbed over 3.5% to $32.90. This appears to have been driven by a broker note out of Citi this morning. Its analysts were pleased with Perpetual's business update and upgraded its shares to a neutral rating from sell with an improved price target of $32.00. It feels that there are signs that its performance is turning around at long last.
