Coca-Cola Amatil Ltd (ASX:CCL) and Qantas Airways Limited (ASX:QAN) shares are two of four storming higher on Monday…
The post Why Coca-Cola Amatil, CSR, Link, & Qantas shares are storming higher appeared first on Motley Fool Australia. –
In morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week in a positive fashion. At the time of writing, the benchmark index is up 0.4% to 6,190.1 points.
Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:
Coca-Cola Amatil Ltd (ASX: CCL)
The Coca-Cola Amatil share price has jumped 15% to $12.37 after receiving a takeover approach from Coca-Cola European Partners. The largest independent bottler of soft drinks has tabled an offer of $12.75 cash per share. This values the company at approximately $9,282 million and represents an 18.6% premium to its last close price. A committee has reviewed the proposal and believes it is in the best interests of shareholders that Coca-Cola European Partners be granted due diligence.
CSR Limited (ASX: CSR)
The CSR share price is up 3.5% to $4.75. Investors have been buying the building products company’s shares after they were upgraded by analysts at Credit Suisse. According to the note, the broker has put an outperform rating and $5.30 price target on CSR’s shares. It believes industry data is pointing to big improvements in non-residential construction.
Link Administration Holdings Ltd (ASX: LNK)
The Link Administration share price is up 2% to $5.00. This morning the administration services company revealed that a consortium comprising Pacific Equity Partners, Carlyle Group, and their affiliates have returned with another takeover offer. The consortium has increased its non-binding indicative proposal by 20 cents to a cash price of $5.40 per share. This follows the rejection of its previous approach last week.
Qantas Airways Limited (ASX: QAN)
The Qantas share price has ascended 1.5% to $4.62. Positive COVID-19 data out of Victoria and a broker note out of Morgan Stanley appear to be the drivers of this gain. In respect to the latter, this morning the broker reiterated its overweight rating and $4.90 price target on the airline operator’s shares. This implies potential upside of 6% from here.
Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
*Returns as of 6/8/2020
- 5 major ASX 200 events this week
- Coca-Cola Amatil (ASX:CCL) in $10 billion takeover bid
- ASX 200 Weekly Wrap: ASX snaps winning streak… just
- 5 things to watch on the ASX 200 on Monday
- These were the best performing ASX 200 shares last week
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 Link Administration Holdings Ltd. The Motley Fool Australia has recommended Link Administration Holdings 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 Coca-Cola Amatil, CSR, Link, & Qantas shares are storming higher appeared first on Motley Fool Australia.