Why Brambles, Challenger, Nearmap, and Super Retail shares are rising today

The S&P/ASX 200 Index (ASX: XJO) is on form again and on course to extend its winning streak. In afternoon trade, the benchmark index is up 0.2% to 7,120.9 points.

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

Brambles Limited (ASX: BXB)

The Brambles share price is up 5% to $12.38. Investors have been buying this logistic solutions company’s shares following the release of a strong full year result. For the 12 months ended 30 June, Brambles reported a profit after tax of US$593.3 million. This was an 18% year over year increase.

Challenger Ltd (ASX: CGF)

The Challenger share price is up 6% to $6.79. This morning the teams at Citi and Ord Minnett upgraded this annuities company’s shares to neutral/hold ratings. Elsewhere, analysts at Morgans retained their add rating but trimmed their price target on the company’s shares to $7.40.

Nearmap Ltd (ASX: NEA)

The Nearmap share price is up 4% to $2.00. This has been driven by the release of a solid full year result from the arial imagery company. Nearmap reported annual contract value (ACV) of $167.6 million, which is up 31% year over year. And while it posted another large loss after tax, management revealed that the company remains on track to generate positive free cash flow by FY 2024.

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price is up over 5% to $10.79. This follows the release of a full year result that materially outperformed consensus estimates. Super Retail reported a 19.9% decline in net profit after tax to $301 million, whereas the market was expecting a net profit after tax of $224 million.

The post Why Brambles, Challenger, Nearmap, and Super Retail shares are rising today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 3 ASX 300 shares having a cracking session today
• Why are ASX 200 retail shares having such a stellar run today?
• Super Retail Group share price jumps 8% on soft FY22 results
• Brambles share price soars 6% on profit and dividend boost
• Nearmap share price on watch as revenue leaps 29%

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 Nearmap Ltd. and Super Retail Group Limited. The Motley Fool Australia has positions in and has recommended Nearmap Ltd. and Super Retail Group Limited. The Motley Fool Australia has recommended Challenger Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/qTkBgOR