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Why Accent, Bank of Queensland, Freelancer, & Zip shares are pushing higher

Bank of Queensland Limited (ASX:BOQ) and Zip Co Ltd (ASX:Z1P) are two of four ASX shares pushing notably higher on Tuesday…
The post Why Accent, Bank of Queensland, Freelancer, & Zip shares are pushing higher appeared first on The Motley Fool Australia. –

ASX shares profit upgrade chart showing growth

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is dropping lower. At the time of writing, the benchmark index is down a disappointing 0.45% to 7,033.8 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Accent Group Ltd (ASX: AX1)

The Accent share price is up 3.5% to $2.54. This is despite there being no news out of the footwear retailer today. However, earlier this month analysts at Bell Potter spoke positively about the company. According to the note, its analysts have put a buy rating and $2.65 price target on Accent’s shares.

Bank of Queensland Limited (ASX: BOQ)

The Bank of Queensland share price has pushed over 2% higher to $9.11. This follows the announcement of a correction to its earnings per share figures from its half year results earlier this month. In addition to this, this morning Morgan Stanley upgraded the bank’s shares to an overweight rating with a $10.00 price target.

Freelancer Ltd (ASX: FLN)

The Freelancer share price has surged 6% higher to 81.5 cents. Investors have been buying the freelancing marketplace provider’s shares following its first quarter update. Freelancer reported Gross Payment Volume of US$192.9 million for the quarter. This was a record quarterly high and up 39% on the prior corresponding period.

Zip Co Ltd (ASX: Z1P)

The Zip share price has risen 2% to $9.15. This morning rival Afterpay Ltd (ASX: APT) released its third quarter update and advised that it was looking into a US listing. There have been rumours swirling around that Zip was planning to do the same. Doing so could open the company up to US fund managers and give its greater access to capital markets. Investors appear to believe Zip will follow suit in the near term.

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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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Accent Group and Freelancer Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Accent, Bank of Queensland, Freelancer, & Zip shares are pushing higher appeared first on The Motley Fool Australia.

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