These ASX shares are on form on Tuesday…
The post Why Adairs, Beach, Catapult, & Myer shares are charging higher appeared first on The Motley Fool Australia. –
in afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has fought back from an earlier decline and is pushing higher. At the time of writing, the benchmark index is up 0.2% to 7,438.9 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:
Adairs Ltd (ASX: ADH)
The Adairs share price is up 5% to $3.88. Investors have been buying the furniture and homewares retailer’s shares after it was the subject of a bullish broker note out of UBS. According to the note, the broker has retained its buy rating and lifted its price target by 23% to $5.40. The broker believes the company is well-placed for growth over the coming years.
Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is up 7% to $1.11. Investors have been buying Beach and other energy shares on Tuesday after the oil price climbed to a one-week high. This has led to the S&P/ASX 200 Energy sector rising by a solid 4% this afternoon.
Catapult Group International Ltd (ASX: CAT)
The Catapult share price is up 2.5% to $1.90. This follows the announcement of a multi-year deal with German football club VfB Stuttgart. The leading Bundesliga team has subscribed to Catapult’s wearable solution for performance insights – Vector. This follows a deal with the football club in July for the company’s MatchTracker and Focus solutions.
Myer Holdings Ltd (ASX: MYR)
The Myer share price is up 4.5% to 51.7 cents. Investors appear to be buying this department store operator’s shares in anticipation of a strong full year result this week. Last month Myer revealed that it expects to report a 5.5% increase in sales and a net profit after tax between $47 million and $50 million. This compares to a loss of $11.3 million in FY 2020 and a profit of $33.2 million in FY 2019.
The post Why Adairs, Beach, Catapult, & Myer shares are charging higher appeared first on The Motley Fool Australia.
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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 shares of and has recommended Catapult Group International Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ADAIRS FPO. The Motley Fool Australia owns shares of and has recommended ADAIRS FPO and Catapult Group International Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.