Why Judo, Paladin Energy, Virgin Money, and WA1 shares are racing higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to close the week at a record high. At the time of writing, the benchmark index is up 0.8% to 7,827.3 points.

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

Judo Capital Holdings Ltd (ASX: JDO)

The Judo Capital share price is up 4% to $1.34. This may have been driven by a broker note out of Goldman Sachs yesterday. It put a buy rating and $1.66 price target on the bank stock. Goldman said: “We think the market’s skepticism around the at-scale NIM focuses on the lending spread assumption of mid-4%, given the 1H24 spread was <4%.”

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price is up 5% to $1.26. This is despite there being no news out of the uranium miner today. However, it is worth noting that most ASX uranium shares are racing higher today. Investors may believe recent weakness in the industry has created a buying opportunity.

Virgin Money UK (ASX: VUK)

The Virgin Money share price is up 33% to $4.08. Investors have been buying the UK-based bank’s shares after it received a takeover offer. Nationwide Building Society has tabled an offer of 220 British pence per share. This equates to $4.26 per share based on current exchange rates and values the bank at approximately $5.7 billion.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is up 2% to $13.20. This morning, analysts at Bell Potter initiated coverage on the niobium explorer’s shares with a speculative buy rating and $17.65 price target. The broker believes the company’s “Luni [deposit] has the potential to be a globally significant Tier-1 asset characterised by its high-grade and scale.”

The post Why Judo, Paladin Energy, Virgin Money, and WA1 shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• Virgin Money share price pops 34% on takeover bid
• Bell Potter just slapped a buy rating on this ASX mining stock
• Forget CBA and buy this ASX bank stock for big returns
• What Dutton’s nuclear push could mean for ASX uranium shares
• 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 Judo Capital. 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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