The S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory today but keeps falling short. In early afternoon trade the benchmark index is down 0.2% to 6,644.8 points.
Four shares that have not let that hold them back today are listed below. Here’s why they are pushing higher:
Amaysim Australia Ltd (ASX: AYS)
The Amaysim share price has risen 3.5% to 75.5 cents. This morning the junior telco received a takeover approach from WAM Capital Limited (ASX: WAM). The fund manager has offered a number of options for shareholders to consider. One being 1 new WAM share for every 2.7 Amaysim shares. This represents an offer of 83.3 cents. WAM has also offered cash of 69.5 cents per share or a combination of the two.
Orocobre Limited (ASX: ORE)
The Orocobre share price has climbed 3.5% higher to $4.26. This is despite there being no news out of the lithium miner. However, investors could be responding to a broker note out of UBS late last week. Its analysts have a buy rating and an improved $4.90 price target on Orocobre’s shares. UBS believes the company is well-placed to benefit from rising lithium prices.
Pacific Smiles Group Ltd (ASX: PSQ)
The Pacific Smiles share price is up a further 4.5% to $2.50. Investors have been buying the dental practice operator’s shares after the release of a strong trading update on Monday. One broker that was impressed is Morgan Stanley. This morning its analysts retained their overweight rating and lifted their price target on the company’s shares to $3.00.
Xero Limited (ASX: XRO)
The Xero share price has pushed a further 3.5% higher to $149.19. The cloud-based business and accounting software provider’s shares were given a boost this week when they were added to the illustrious ASX 50 index at the next quarterly rebalance. The Xero share price hit a record high $149.58 just after lunch.
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Returns as of 6th October 2020
More reading
- Amaysim (ASX: AYS) announces takeover as it prepares to delist
- Here’s why Bubs (ASX:BUB) and this ASX share are underperforming in 2020
- Why ASX oil stocks could replace the ASX tech boom in 2021
- Why the Webjet (ASX: WEB) share price is climbing higher
- Why the Xero (ASX:XRO) share price just hit a new record high
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 Xero. 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 Bruce Jackson.
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