It has been a reasonably mixed day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). After a strong start the benchmark index has fallen into the red and is down slightly to 5,667 points in afternoon trade.
Four shares which are bucking the trend and shooting higher are listed below. Here's why they have posted strong gains today:
The Blackmores Limited (ASX: BKL) share price has continued to climb higher and is up 9% to $106.77. The health supplements full-year report appears to have impressed one broker in particular. According to a note out of Ord Minnett this morning, the broker has upgraded Blackmores to an accumulate rating with a $115.00 price target.
The Graincorp Ltd (ASX: GNC) share price has climbed 6% to $8.68 despite there being no news out of the agribusiness company. Today's gain is likely to be attributable to a note out Credit Suisse this morning. That note reveals that its analysts have upgraded Graincorp's shares to an outperform rating with a $9.42 price target.
The Syrah Resources Ltd (ASX: SYR) share price has jumped almost 8% to $2.93 after the graphite miner announced that it had finalised its mining agreement with the Ministry of Mineral Resources and Energy of the Republic of Mozambique. This brings production at its massive Balama project one step closer. Whilst the news is positive, I would hold of an investment until production has commenced and the company is generating sales.
The Updater Inc (ASX: UPD) share price has surged 10% to $1.43 following the release of a business update. According to today's release, the technology company has set a new market penetration goal of 35%. Furthermore, as a result of its strong performance this year, the company has accelerated its business plan and will begin to sell insurance products by the end of the calendar year.
