After a slow start to the day, in afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is pushing higher. At the time of writing the benchmark index is up slightly at 6,074 points.
Four shares climbing notably higher today are listed below. Here's why they surged higher:
The Adairs Ltd (ASX: ADH) share price is up almost 5% to $1.67 after the release of a positive broker note out of UBS. The broker retained its buy rating and increased its price target on the homewares retailer to $2.10. Its analysts believe Adairs could be having a strong December and have increased their half-year sales growth forecast to 7%.
The Ardent Leisure Group (ASX: AAD) share price has jumped almost 10% to $1.90 after announcing the sale of its Bowling & Entertainment division to The Entertainment and Education Group for $160 million. Management intends to use the funds on the expansion of its Main Event brand and the recovery of its theme parks.
The Orocobre Ltd (ASX: ORE) share price has climbed 6.5% to $7.06 thanks to a broker upgrade by Morgans. The broker made the move following Orocobre's recent pricing update. It expects the lithium miner to command a price of US$13,750 a tonne during the next half and beyond. This could possibly lead to bumper profit growth and high levels of free cash flow.
The Villa World Ltd (ASX: VLW) share price is up 5.5% to $2.67 after the property developer provided a trading update. Management has reaffirmed its net profit after tax guidance of at least $41.6million in FY 2018, up from $37.8 million the previous year.
