In late morning trade the S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory. At the time of writing the benchmark index is down 0.2% to 5,980.7 points.

Four shares that have not let that hold them back are listed below. Here’s why they are racing higher:

The Kogan.com Ltd (ASX: KGN) share price has jumped 9% to $12.42. Investors have been buying the ecommerce company’s shares after it released a business update. That update revealed that Kogan’s impressive customer, sales, and profit growth continued during the month of May. The company added 126,000 active customers during May. This helped more than double its sales and triple its operating earnings quarter to date.

The National Australia Bank Ltd (ASX: NAB) share price is up 2% to $19.28. The banking giant’s shares were given a big boost this morning by a broker note out of UBS. It has upgraded NAB’s shares to a buy rating with a $20.50 price target. It doesn’t feel that NAB’s outlook is as bleak as first feared.

The Qantas Airways Limited (ASX: QAN) share price has continued its positive run and is up a further 3% to $4.63. Investors have been buying the airline operator’s shares after it announced an increase in domestic flights for June and July. By the end of July, subject to demand, Qantas’ domestic capacity could be 40% of pre-pandemic levels. This morning Morgan Stanley responded to the news by retaining its buy rating and $5.20 price target. 

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has pushed over 4% higher to $6.36. This gain appears to have been driven by the aforementioned news out of Qantas. A quicker than expected recovery in domestic tourism would be a big positive for Sydney Airport and limit the cash burn it is currently experiencing.

More reading

• The Kogan share price is surging higher following another positive business update
• Is today’s BHP, NAB or Afterpay share price a good investment?
• Why today might be a good day to buy NAB and Westpac shares
• Qantas share price soars on plans to increase domestic flights
• These top ASX dividend shares could be perfect for income investors

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. 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 Kogan, NAB, Qantas, & Sydney Airport shares are racing higher appeared first on Motley Fool Australia.

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The Vocus Group Ltd (ASX: VOC) share price has been an impressive performer over the last two and a half months.

Since the specialist fibre and network solutions provider’s shares fell to a 52-week low of $1.80 in late March, they have rallied a massive 73% to trade at $3.13 today.

Is it too late to buy Vocus shares?

The Vocus share price can still go a lot higher from here according to one leading broker.

A note out of Goldman Sachs this morning reveals that its analysts have reiterated their buy rating and $3.85 price target on the company’s shares.

This price target implies potential upside of 23% for its shares over the next 12 months.

Why is Goldman Sachs bullish?

According to the note, the broker was pleased to see Vocus reiterate its FY 2020 guidance and announce the refinancing of its debt on Thursday.

Vocus revealed that it expects its FY 2020 earnings before interest, tax, depreciation, and amortisation (EBITDA) to be in the range of $359 million to $369 million.

This compares to the EBITDA of $356 million that Goldman was expecting. It believes this is reflective of the resilience of telecom earnings.

Overall, the broker remains positive on its outlook and also on its valuation in comparison to rival TPG Telecom Ltd (ASX: TPM).

Goldman commented: “We stay Buy on Vocus with this update removing two key investor issues (i.e. refinancing & lack of guidance commentary) and helping to de-risk our positive investment view.”

“This is based on: (1) improving Enterprise earnings outlook, with a meaningful opportunity to partner with NBN Co.; (2) favorable valuation (vs. TPM and history); (3) significant infrastructure asset base, which we see as attractive in a low-rate environment,” it concluded.

Should you buy Vocus shares?

While my preference in the telco space remains Telstra Corporation Ltd (ASX: TLS), I think Vocus is a great option as well.

Times have been hard for the company over the last few years, but it finally appears to be on track now to deliver solid growth over the coming years. This could lead to the Vocus share price outperforming over the medium term.

More reading

• 5 things to watch on the ASX 200 on Friday
• The 10 shares that significantly move the ASX 200 index
• Telstra shares and 2 other ASX companies to buy in a low-interest rate world
• Why I would buy these outstanding ASX 50 shares right now
• ASX 200 hits 6,000 points: Westpac provide AUSTRAC update, Vocus reaffirms guidance

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra 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 Top broker tips the Vocus share price to zoom higher appeared first on Motley Fool Australia.

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