In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. At the time of writing the benchmark index is down 0.5% to 6,011.7 points.
Four shares that are not letting that hold them back are listed below. Here's why they are storming higher:
The Coca-Cola Amatil Ltd (ASX: CCL) share price is up 2% to $8.51. Investors have been buying the beverage company's shares after they were upgraded by analysts at Goldman Sachs. According to the note, the broker has upgraded Coca-Cola Amatil's shares to a buy rating with a $9.30 price target. Goldman made the move largely on valuation grounds, noting that it trades at a significant discount to some consumer staples peers.
The REA Group Limited (ASX: REA) share price is up 3% to $114.55. This follows the release of a robust full year result by the property listings company this morning. REA Group battled through very difficult trading conditions to deliver revenue of $820.3 million and EBITDA of $492.1 million. This was a 6% and 5% year on year decline. Pleasingly, the company's EBITDA was ahead of the analyst consensus estimate of $468 million.
The Redbubble Ltd (ASX: RBL) share price has zoomed 11% higher to $3.30. This morning the ecommerce company revealed that strong face mask demand had helped drive stellar revenue growth in FY 2020 and early in FY 2021. Redbubble recorded full year marketplace revenue of $368 million, up 43% on FY 2019's marketplace revenue. Pleasingly, this strong form has continued in the first quarter. Redbubble's marketplace revenue was $49 million in July, up a massive 132% on the prior corresponding period.
The Sezzle Inc (ASX: SZL) share price is up 5% to $7.53. This morning the buy now pay later provider announced the successful completion of its share purchase plan. Sezzle raised the $7.2 million it was targeting, but revealed valid applications totalling over $78 million. Combined with its placement, the company believes it is now well capitalised to accelerate its growth strategy.
