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Why Beach, Domain, Domino’s, & Pro Medicus shares are storming higher

These ASX shares are having a strong day…
The post Why Beach, Domain, Domino’s, & Pro Medicus shares are storming higher appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up slightly to 7,515.2 points.

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

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is up 7% to $1.11. This appears to have been driven by a broker note out of Citi. According to the note, the broker has upgraded the energy producer’s shares to a buy rating with a $1.27 price target. Citi believes FY 2022 will be the bottom for the company’s production and expects its growth to resume in FY 2023.

Domain Holdings Australia Ltd (ASX: DHG)

The Domain share price is up 3% to $5.04. This morning analysts at UBS upgraded this property listings company’s shares to a buy rating with an improved price target of $5.70. This follows the release of a full year result that was ahead of expectations. UBS is positive on its medium term outlook.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price has stormed 6.5% higher to $135.26. Investors have been fighting to get hold of the pizza chain operator’s shares after it delivered stellar sales and profit growth in FY 2021. Domino’s reported a 14.6% increase in network sales to $3.74 billion and a 29.2% jump in net profit after tax to $188.2 million. Positively, FY 2022 has started strongly. Network sales are up 7.7% year to date.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price has jumped 7.5% to $60.82 following the release of its full year results. In FY 2021, the healthcare technology company achieved a 19.5% increase in revenue to $67.9 million and a 33.7% jump in net profit after tax to $30.9 million. This was driven partly by a number of major multi-year contract wins during the year.

The post Why Beach, Domain, Domino’s, & Pro Medicus shares are storming higher appeared first on The Motley Fool Australia.

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More reading

Beach Energy (ASX:BPT) share price jumps 7% on broker upgrade
ASX 200 midday update: BHP sinks, CSL outperforms guidance, Coles rises

Pro Medicus (ASX:PME) share price jumps after FY21 result
Domino’s (ASX:DMP) share price jumps 4% following FY21 results
5 things to watch on the ASX 200 on Wednesday

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 Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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