Why 4DMedical, A2 Milk, QBE, and Zip shares are charging higher today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decent gain. At the time of writing, the benchmark index is up 0.6% to 7,465.8 points.

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

4DMedical Ltd (ASX: 4DX)

The 4DMedical share price is up 4% to 64.5 cents. This morning, the respiratory imaging technology company announced a commercial agreement with leading global healthcare company, Koninklijke Philips N.V. (NYSE: PHG). The two parties will establish a strategic collaboration to advance solutions to evaluate Veterans with deployment-related respiratory disease (DRRD), interstitial lung disease (ILD), and other respiratory illnesses in North America.

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 4% to $4.50. This appears to have been driven by a positive broker note out of Citi this morning. Its analysts are feeling positive about the infant formula company’s upcoming half-year results. So much so, it sees upside risk to sales expectations. Citi has a buy rating and $4.81 price target on its shares.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price is up 2% to $15.60. This morning, Goldman Sachs retained its buy rating and $18.52 price target on this insurance giant’s shares. The broker highlights that industry peer Travelers Companies Inc (NYSE: TRV) smashed expectations during the fourth quarter. It believes this bodes well for QBE’s performance during the quarter.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 13% to 71.7 cents. Investors have been buying this buy now pay later provider’s shares after it delivered a strong quarterly update. Zip reported an 8.5% lift in transaction value over the prior corresponding period to $2.8 billion. And thanks to an improvement in its revenue margin to 8.2%, Zip’s revenue was up 26.1% to $225.6 million for the quarter. Management also revealed that first half group cash EBTDA is expected to be between $29 million and $33 million.

The post Why 4DMedical, A2 Milk, QBE, and Zip shares are charging higher today appeared first on The Motley Fool Australia.

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More reading

• Leading brokers name 3 ASX shares to buy today
• Zip shares rocket 17% on ‘outstanding’ quarter
• Here are the top 10 ASX 200 shares today
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• 3 ASX dividend stocks to boost your income portfolio in 2024

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Zip Co. The Motley Fool Australia has recommended A2 Milk. 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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