In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 1.8% to 6,762.8 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:
Jumbo Interactive Ltd (ASX: JIN)
The Jumbo share price is up almost 5% to $12.21. This morning Goldman Sachs initiated coverage on the lottery ticket seller’s shares with a buy rating and $15.30 price target. Goldman is forecasting earnings growth ahead of consensus estimates in the coming years. This is thanks partly to its Powered by Jumbo business, which it believes is well-placed to grow its market share at home and overseas.
Origin Energy Ltd (ASX: ORG)
The Origin share price is up 5% to $5.74. This could have been driven by a bullish broker note out of UBS this morning. According to the note, the broker has retained its buy rating on the energy company’s shares with an improved price target of $7.40. UBS likes Origin due to its APLNG business.
Qantas Airways Limited (ASX: QAN)
The Qantas share price is up 10% to $5.68. Investors have continued to buy this airline operator’s shares following the release of a market update on Thursday. A number of brokers have responded very positively to the update today. For example, the team at UBS has retained its buy rating and lifted its price target on the company’s shares to $7.20.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside share price is up 4% to $33.96. The catalyst for this has been a solid rise in oil prices during overnight trade. It isn’t just the Woodside share price that is rising today. A number of energy shares are recording solid gains along with it. This has led to the S&P/ASX 200 Energy index rising a sizeable 3.8% on Friday.
The post Why Jumbo, Origin, Qantas, and Woodside shares are racing higher appeared first on The Motley Fool Australia.
More reading
- Brokers name 3 ASX shares to buy today
- Why is the Woodside share price smashing it on Friday?
- Is the Qantas share price fully valued following this week’s surge?
- Qantas flying; Chalmers and Biden disagree on recession. Scott Phillips on Nine’s Late News
- 5 things to watch on the ASX 200 on Friday
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 Jumbo Interactive Limited. The Motley Fool Australia has recommended Jumbo Interactive Limited. 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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