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.
5 stocks under $5
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
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!
*Extreme Opportunities returns as of June 5th 2020
More reading
- Earnings: News Corp share price up 5% today despite posting major loss
- Earnings preview: What to expect from the Coca-Cola Amatil half year result
- Redbubble share price on watch after COVID face mask demand drives sales surge
- REA Group share price on watch after robust FY 2020 result
- 5 things to watch on the ASX 200 on Friday
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia has recommended REA Group Limited and Sezzle Inc. 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 Coca-Cola Amatil, REA Group, Redbubble, & Sezzle shares are storming higher appeared first on Motley Fool Australia.
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