Why Clover, Select Harvests, Whitehaven Coal, and Woodside shares are storming higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has returned to form and is pushing higher. At the time of writing, the benchmark index is up 0.25% to 6,844.9 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Clover Corporation Limited (ASX: CLV)

The Clover share price is up almost 8% to $1.26. This follows the release of a bullish broker note out of UBS relating to the specialist ingredients company. According to the note, the broker has responded to Clover’s FY 2022 results by upgrading its shares to a buy rating with a $1.35 price target. It sees opportunities for the company to grow in China and through increasing omega-3 demand.

Select Harvests Limited (ASX: SHV)

The Select Harvests share price is up 13% to $5.56. Investors have been buying this almond producer’s shares following the release of a market update. Although that update revealed a softer than expected crop in 2022, it was still up year over year. Furthermore, it expects a price per pound which is better than forecast. Management also spoke about favourable market conditions and its expectation for higher crop volumes in 2023.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is up 5% to $8.89. A number of coal miners are charging higher today amid another rise in coal prices overnight. In addition, this morning the team at Morgan Stanley retained its overweight rating and lifted its price target on the company’s shares to a sizeable $11.20.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up almost 4% to $33.58. This follows a decent rise in oil prices overnight amid supply concerns. In addition, the release of a bullish broker note out of Citi has caught the eye of investors. In respect to the latter, this morning the broker upgraded Woodside’s shares to a buy rating with a $36.50 price target.

The post Why Clover, Select Harvests, Whitehaven Coal, and Woodside shares are storming higher appeared first on The Motley Fool Australia.

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More reading

• How this fundie is beating the ASX 300 without fossil fuels
• Up 18% today, why this ASX 300 share is going nuts
• Why is the Woodside share price surging 4% on Thursday?
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today

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 positions in and has recommended Clover Corporation Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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