The S&P/ASX 200 Index (ASX: XJO) is out of form again on Monday. In afternoon trade, the benchmark index is down 0.5% to 7,138.6 points.
Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are rising:
Corporate Travel Management Ltd (ASX: CTD)
The Corporate Travel Management share price is up 3% to $20.77. This gain appears to have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has retained its overweight rating and lifted its price target on the corporate travel specialist’s shares to $28.00. Morgan Stanley believes the company is one of the best reopening plays for investors.
Goodman Group (ASX: GMG)
The Goodman share price is up 3.5% to $23.40. Investors have been buying this property company’s shares following the release of a broker note out of Macquarie. Its analysts have retained their outperform rating and lifted their price target to $26.63. Macquarie believes Goodman could upgrade its guidance for FY 2022 when it releases its half year results.
Lendlease Group (ASX: LLC)
The Lendlease share price is up 2.5% to $10.42. Macquarie also spoke positively about Lendlease. In fact, the broker upgraded its shares to an outperform rating with a $12.64 price target. Its analysts believe that Lendlease’s shares could rerate to higher multiples in the future once it starts to become apparent that it will meet its FY 2024 targets.
Uniti Group Ltd (ASX: UWL)
The Uniti share price is up 10% to $4.16. This morning the telco revealed that it has received takeover approaches from more than one company in recent months. However, no names were given, nor was the company able to provide details relating to timing, price, or conditions. It also warned that there is no guarantee that such approaches will result in any substantive proposals emerging.
The post Why Corporate Travel Management, Goodman, Lendlease, and Uniti shares are rising today appeared first on The Motley Fool Australia.
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More reading
- Here are the latest broker updates from Macquarie. It’s not all pretty for ASX shares.
- Why is the Uniti (ASX:UWL) share price up 10% on Monday?
- Leading brokers name 3 ASX shares to buy today
- 3 ASX growth shares to buy after the market meltdown
- 2 strong ASX shares profiting from the e-commerce boom
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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Corporate Travel Management Limited and Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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