In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the day notably higher. At the time of writing the benchmark index is up a solid 0.7% to 5,860.9 points.
Four shares that have climbed more than most today are listed below. Here's why they are climbing higher:
The Bellamy's Australia Ltd (ASX: BAL) share price is up 6% to $8.23 despite there being no news out of the organic infant formula company. But with its shares down heavily over the last few weeks, I wouldn't be surprised if bargain hunters are swooping in today. I think Bellamy's Australia is a great long-term investment option, though it may remain volatile in the short term.
The BWX Ltd (ASX: BWX) share price has pushed 5.5% higher to $2.72. Much like Bellamy's Australia, BWX's shares have fallen significantly over the last few weeks. This has been caused by a disappointing trading update and guidance for the year ahead. While I do think that its shares look to be good value now, I would suggest investors wait for its half year results before deciding.
The CSR Limited (ASX: CSR) share price has pushed 4% higher to $3.34. Today's gain is likely to be attributable to a broker note out of Deutsche Bank this morning. That note revealed that the broker has upgraded the building supplies company's shares to a buy rating with a $3.70 price target. The move was made largely on valuation grounds. CSR's shares are trading at a meaningful discount to its peers.
The Incitec Pivot Ltd (ASX: IPL) share price is up 4.5% to $4.20. A positive broker note out of Credit Suisse appears to have been the catalyst to this share price gain. A note out of the investment bank reveals that its analysts have upgraded Incitec Pivot's shares to an outperform rating with an increased price target of $4.33 ahead of its full year results next week.
