The S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a disappointing note. In afternoon trade the benchmark index is down 0.6% to 6,674.4 points.
Four shares that have not let that hold them back are listed below. Here’s why they are charging higher today:
Data#3 Limited (ASX: DTL)
The Data#3 share price has jumped 5.5% to $5.54. Investors have been buying the business technology solutions company’s shares after it provided guidance for the first half. According to the release, Data#3 expects to achieve the top end of its guidance range. This will mean a first half net profit before tax of approximately $13.7 million.
JB Hi-Fi Limited (ASX: JBH)
The JB Hi-Fi share price is up 2.5% to $52.05. Investors have been buying the retail giant’s shares after it released its guidance for the first half of FY 2021. JB Hi-Fi had a very strong half thanks to continued elevated customer demand for consumer electronics and home appliance products. In light of this, it expects to report a 23.7% increase in sales to $4,941.2 million and an impressive 86.2% lift in net profit after tax to $317.7 million for the half.
Ramsay Health Care Limited (ASX: RHC)
The Ramsay share price has jumped 5% higher to $62.26. This has been driven by the release of a broker note out of Goldman Sachs this morning. According to the note, its analysts have upgraded Ramsay’s shares to a conviction buy rating from neutral and lifted their price target on them to $70.00. Goldman believes the improvement in near-term fundamentals is not yet reflected in consensus forecasts or current trading multiples.
Zip Co Ltd (ASX: Z1P)
The Zip share price is up 2.5% to $5.75. This morning the buy now pay later provider announced the completion of its share purchase plan. According to the release, Zip raised $56.7 million from the share purchase plan. This includes over-subscriptions of $26.7 million, which it has accepted in full. Prior to this, Zip raised $120 million from its placement to new and existing institutional, sophisticated, and professional investors.
This Tiny ASX Stock Could Be the Next Afterpay
One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…
Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.
Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!
See how you can find out the name of this stock
Returns as of 6th October 2020
More reading
- ASX 200 down 0.5%: JB Hi-Fi guidance impresses, Super Retail update, Ramsay surges
- Ramsay Health Care (ASX:RHC) share price on watch after broker upgrade
- 2 exciting ASX growth shares to buy for your portfolio
- 5 things to watch on the ASX 200 on Monday
- 3 ASX dividend shares with large yields and consistent payouts
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why Data#3, JB Hi-Fi, Ramsay, & Zip shares are charging higher appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3ipfX0I
Leave a Reply