In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 1.6% to 7,471.6 points.
Four ASX shares that have managed to avoid the selloff are listed below. Here’s why they are pushing higher:
Bellevue Gold Ltd (ASX: BGL)
The Bellevue Gold share price is up 3% to $1.02. This morning the gold explorer released its quarterly activities update. The company stated that it has made outstanding progress on both the geological and project development fronts during the quarter. This has culminated in a host of strong infill drilling results and the award of a mining contract.
CSL Limited (ASX: CSL)
The CSL share price is up 1.5% to $270.81. This appears to have been driven by a broker note out of Morgan Stanley. According to the note, the broker sees a pathway for the CSL share price to reach $400 by 2025. This would be an increase of almost 50% from current levels. Morgan Stanley sees the acquisition of Swiss biotech giant Vifor Pharma as key to driving the company’s shares materially higher. In the meantime, the broker has an overweight and $310 price target on its shares.
Endeavour Group Ltd (ASX: EDV)
The Endeavour share price is up over 1% to $7.72. This alcohol retailer’s shares were given a boost today from a broker note out of Goldman Sachs. In response to its trading update, the broker has retained its conviction buy rating and lifted its price target to $8.30. Goldman said: “We continue to believe that EDV is unrivaled in its capability to deliver a seamless omni-channel experience to consumers and can manage well through short-term cost volatilities with a less price-sensitive portfolio and high consumer loyalty.”
Serko Ltd (ASX: SKO)
The Serko share price is up 4% to $4.26. This is despite there being no news out of this travel technology company. However, its shares have failed to rebound like many of its travel sector peers recently. So, some investors may believe they are due for a rerating and have been picking them up today.
The post Why Bellevue Gold, CSL, Endeavour, and Serko shares are pushing higher today appeared first on The Motley Fool Australia.
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More reading
- Why Morgan Stanley says the CSL share price can hit $400 by 2025
- Why this broker says Endeavour shares are a conviction buy
- 5 things to watch on the ASX 200 on Friday
- Why Australian Ethical, BHP, Endeavour, and Megaport shares are tumbling today
- CSL share price lifts amid US$4b debt raise
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. owns and has recommended CSL Ltd. and Serko Ltd. The Motley Fool Australia has recommended Serko Ltd. 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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