In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to rebound strongly from yesterday’s selloff. At the time of writing the benchmark index is up 1.55% to 5,905.9 points.
Four shares that are climbing more than most today are listed below. Here’s why they are shooting higher:
The Brickworks Limited (ASX: BKW) share price has jumped 7% higher to $15.93. Investors have been buying the company’s shares after it released an announcement relating to its joint venture with Goodman Group (ASX: GMG). According to the release, the joint venture has agreed a lease pre-commitment for 20 years with tech giant Amazon at the Oakdale West Estate in Western Sydney. The joint venture will build a new state of the art distribution facility at Oakdale West.
The Collins Foods Ltd (ASX: CKF) share price has surged over 16% higher to $9.73. The catalyst for this impressive gain was the release of its full year results this morning. The KFC and Taco Bell restaurant operator revealed an 8.9% increase in revenue and a 5.1% lift in underlying net profit after tax. The company also declared a 10.5 cents per share fully franked final dividend.
The Corporate Travel Management Ltd (ASX: CTD) share price is up over 6% to $9.98. This gain may have been driven by a broker note out of Bell Potter. It has just named the corporate travel specialist as one of its top picks in the Industrials sector for FY 2021. It has a buy rating and $13.75 price target on the company’s shares.
The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is up almost 3% to $32.56. This morning analysts at Goldman Sachs responded positively to its full year results by lifting their price target materially. Goldman Sachs has retained its buy rating and increased its price target by 22% to $33.90. The broker has also suggested that Fisher & Paykel Healthcare’s FY 2021 guidance could be conservative.
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And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
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More reading
- The top 10 performing ASX shares over the past year
- Brickworks and Goodman shares jump on Amazon deal
- Collins Foods share price rockets 14% higher on FY 2020 result
- Saracen Mineral and 2 other companies defying the ASX 200
- 5 things to watch on the ASX 200 on Tuesday
Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of and has recommended Brickworks and Corporate Travel Management Limited. The Motley Fool Australia has recommended Collins Foods Limited. 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.
The post Why Brickworks, Collins Foods, Corporate Travel, & Fisher & Paykel Healthcare are shooting higher appeared first on Motley Fool Australia.
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