In afternoon trade on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 7,486.3 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are surging higher:
Ardent Leisure Group Ltd (ASX: ALG)
The Ardent Leisure share price is up 10% to $1.39. Investors have been buying this entertainment company’s shares since the release of its better than expected full year results. One broker that was particularly pleased with its improving performance was Ord Minnett. This morning its analysts upgraded Ardent Leisure’s shares to a buy rating with a $1.75 price target.
Blackmores Limited (ASX: BKL)
The Blackmores share price is up 6% to $97.68. This appears to have been driven by a broker note out of Credit Suisse this morning. According to the note, the broker has upgraded its shares to a buy rating with a $100.00 price target. Credit Suisse notes that Blackmores’ bold medium term growth targets are ahead of its estimates.
Clinuvel Pharmaceuticals Limited (ASX: CUV)
The Clinuvel share price has jumped 17% to $34.35. Today’s gain appears to have been driven by the release of a bullish broker note in response to yesterday’s full year results. According to a note out of Jefferies, its analysts have upgraded the biopharmaceutical company’s shares to a buy rating with a $36.80 price target.
Qube Holdings Ltd (ASX: QUB)
The Qube share price has climbed 4% to $3.17. This morning analysts at Credit Suisse upgraded the logistics solutions company’s shares to an outperform rating with an improved price target of $3.30. Credit Suisse was pleased with its strong FY 2021 result and believes a major share buyback could be announced with its half year results in FY 2022.
The post Why Ardent Leisure, Blackmores, Clinuvel, & Qube shares are surging higher appeared first on The Motley Fool Australia.
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