Why Boss Energy, Cooper Energy, Judo Capital, and Polynovo shares are racing higher

The S&P/ASX 200 Index (ASX: XJO) is having another positive session on Tuesday. At the time of writing, the benchmark index is up 0.6% to 7,521.2 points.

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

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is up 1.5% to $5.37. Investors have been buying this uranium developer’s shares following the release of drilling results from the Honeymoon Project. Management notes that more strong drilling results highlight scope for growth in production, mine life, and cashflow.

Cooper Energy Ltd (ASX: COE)

The Cooper Energy share price is up 9% to 12 cents. This morning, analysts at Macquarie upgraded the energy company’s shares to an outperform rating with an 18 cents price target. The broker believes a selloff on Monday relating to a cost blowout has created a buying opportunity for investors. The broker feels that other positive news also released offset the cost blowout news.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo Capital share price is up almost 18% to $1.10. Investors have been snapping up this small business lender’s shares after it revealed strong profit growth in the first half of FY 2024. Unaudited profit before tax (PBT) is expected to be $67 million for the first half, which is up 24% on the prior corresponding period.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is up 8% to $1.88. This appears to have also been driven by a bullish broker note out of Macquarie. In response to the medical device company’s first half sales update on Monday, the broker has retained its outperform rating with an improved price target of $2.90. Polynovo’s first half sales were comfortably ahead of the broker’s expectations.

The post Why Boss Energy, Cooper Energy, Judo Capital, and Polynovo shares are racing higher appeared first on The Motley Fool Australia.

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More reading

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• Here are the top 10 ASX 200 shares today
• Why Appen, Baby Bunting, Cooper Energy, and Liontown shares are sinking today
• If I’d invested $20,000 in Boss Energy shares one month ago here’s what I’d have today
• Would I be crazy to buy Boss Energy shares at $5.50?

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, Macquarie Group, and PolyNovo. The Motley Fool Australia has positions in and has recommended Macquarie Group. 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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