Although momentum appears to be slowing a touch, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is pushing higher for a fourth successive day. Currently the index is higher by around 0.3% to 5,404 points.
Four shares in particular have been doing their best to lift the index today. Here's why they are climbing higher:
Bellamy's Australia Ltd (ASX: BAL) shares are up over 4% to $11.73 following reports in the Australian Financial Review stating that leading broker CLSA believes its shares could be worth up to $22. The price CLSA has suggested is a result of the 40x earnings premium that Danone paid to acquire US organic food producer WhiteWave Foods last week and Bellamy's future earnings forecasts.
Bellamy's shares are still down 13% this year despite recent gains.
New Hope Corporation Limited (ASX: NHC) shares have rocketed higher by a further 11% to $1.75, bringing its weekly gains to a massive 20%. The increase in its share price coincides with reports in the Financial Times revealing the price of seaborne thermal coal for the Asian market has jumped to its highest level in more than 10 months. This is reportedly thanks to strong demand from Chinese buyers who are eager to secure supplies due to a government-led clampdown on surplus capacity.
New Hope's share price has risen almost 28% in the last 30 days.
Treasury Wine Estates Ltd (ASX: TWE) has seen its share price jump around 4% to $9.59. Its shares were hit hard following the Brexit and have almost retraced recent declines in full now. The market appeared to have concerns that the fall in the British pound was going to negatively impact its financial results. But last week the company advised shareholders that its active currency hedging strategy means it doesn't expect any material change to its FY 2017 earnings expectations.
Treasury Wine Estates' share price has risen 80% in the last 12 months.
WiseTech Global Ltd (ASX: WTC) shares have jumped over 4% to $5.38 after Bell Potter released a research note rating its shares as a buy with a $5.90 price target. The company provides software solutions to the logistics industry and is definitely worth adding to most portfolios in my opinion. I believe the company has strong growth prospects thanks to its CargoWise One software, which I see as an invaluable asset for logistics companies in an increasingly complex industry.
WiseTech Global's shares have risen nearly 40% since its IPO in April.
