In afternoon trade the the S&P/ASX 200 Index (ASX: XJO) is off its lows but still deep in the red. At the time of writing the benchmark index is down 1.9% to 5,943 points.
Four shares that have not let that hold them back are listed below. Here’s why they are pushing higher:
The Lendlease Group (ASX: LLC) share price is up 2.5% to $11.88. Investors have been buying the international property and infrastructure company’s shares after brokers responded positively to its strategy update. One broker that liked what it saw was Goldman Sachs. This morning it retained its conviction buy rating and lifted the price target on its shares to $16.37.
The Redbubble Ltd (ASX: RBL) share price has jumped 6% to $4.16. This is despite there being no news out of the ecommerce company. However, last week analysts at Morgans upgraded the company’s shares from a reduce rating to an add rating with an improved price target of $4.33. It was impressed with its full year results and believes it is in the right place at the right time.
The Sealink Travel Group Ltd (ASX: SLK) share price is up over 4% to $4.95. Investors have been buying the travel and transport company’s shares since the release of its full year results on Monday. One broker that was pleased with its results was Ord Minnett. This morning its retained its buy rating and lifted the price target on its shares to $6.08. It likes the way the company is transforming into a defensive business with growth options.
The Starpharma Holdings Limited (ASX: SPL) share price has jumped 11.5% higher to $1.69. The catalyst for this was the announcement of the development of a slow release soluble DEP remdesivir nanoparticle. According to the release, Starphrma has applied its novel DEP drug delivery technology to create a long-acting, water soluble version of remdesivir. Remdesivir is an antiviral drug which is currently being developed by US giant Gilead to treat COVID-19.
These stocks could rocket in a Post-COVID world (FREE STOCK REPORT)
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
Find out the names of our 3 Post COVID Stocks – For FREE!
*Returns as of 6/8/2020
More reading
- Starpharma share price rockets to record high on DEP remdesivir COVID-19 news
- ASX 200 edges higher: Fortescue sinks, NAB sells MLC Wealth, Costa jumps
- Sealink share price jumps higher after delivering strong profit growth in FY 2020
- Starpharma share price rockets to 52-week high on full year update
- This ASX dividend share offers a 9% fully franked yield
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Why Lendlease, Redbubble, SeaLink, & Starpharma shares are pushing higher appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/3bljoSn
Leave a Reply