The S&P/ASX 200 Index (ASX: XJO) was out of form last week and tumbled lower. The benchmark index lost 0.7% of its value over the five days to end at 7,304 points.
Four ASX 200 shares that didn’t let that hold them back are listed below. Here’s why they were the best performers on the index last week:
Nanosonics Ltd (ASX: NAN)
The Nanosonics share price was the best performer on the ASX 200 last week with a gain of 11.7%. This was despite there being no news out of the infection prevention company. This latest gain means the Nanosonics share price is now up an impressive 22% since the start of December. One broker that still thinks its shares can go higher is Morgans. It currently has an add rating and $6.97 price target on them.
WiseTech Global Ltd (ASX: WTC)
The WiseTech share price wasn’t far behind with a 10.3% gain. Once again, this was despite there being no news out of the logistics solutions company. Though, with the company’s CEO continuing to sell down his holding last week, investors could be taking this as a positive signal. The theory being that if WiseTech was not at least performing in line with guidance, he wouldn’t be able to sell shares. WiseTech is forecasting strong sales and operating earnings growth in FY 2022.
Charter Hall Group (ASX: CHC)
The Charter Hall share price was on form last week and charged 9.5% higher. Investors were buying this property company’s shares following the release of a strong update on Monday. That update saw Charter Hall upgrade its guidance for FY 2022 a second time. This went down well with the team at Macquarie. In response, the broker retained its outperform rating and lifted its price target on the company’s shares to $22.90.
Omni Bridgeway Ltd (ASX: OBL)
The Omni Bridgeway share price was a solid performer and rose 9.4% over the period. Last week the class action funder announced the completion of two investments, with expected income generation of approximately $18 million. In addition to this, Goldman Sachs recently reiterated its conviction buy rating and lofty $5.35 price target.
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
More reading
- Here are the top 10 ASX shares today
- Here are the 3 most heavily traded ASX 200 shares this Friday
- BNPL whacked! Why the Afterpay (ASX:APT) share price is down 7% to a new 52-week low today
- ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
- 5 things to watch on the ASX 200 on Friday
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Nanosonics Limited and WiseTech Global. The Motley Fool Australia owns and has recommended Nanosonics Limited and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3F6IQZZ
Leave a Reply