In afternoon trade the S&P/ASX 200 index has bounced off its lows and is trading flat at 6,499 points.
Four shares that haven't let that hold them back are listed below. Here's why they have surged higher today:
The JB Hi-Fi Limited (ASX: JBH) share price is up 1.5% to $27.20 after analysts at Goldman Sachs upgraded its shares to a buy rating with a $30.00 price target. According to the note, the broker believes things have become more favourable for the retailer following the Coalition's election victory, APRA's plan to remove the 7% serviceability buffer on home loans, and the Reserve Bank's shift to a more dovish stance.
The Lynas Corporation Ltd (ASX: LYC) share price has continued its strong run and is up 5.5% to $2.42. The rare earths producer's shares have been on fire this week thanks to the announcement of its Lynas 2025 growth plan yesterday and the U.S. and China trade war. Lynas could be a big winner from the trade war as there is speculation that China will block the supply of rare earths to the United States.
The Praemium Ltd (ASX: PPS) share price has risen over 3% to 40.7 cents. A broker note out of Goldman Sachs appears to have been the catalyst for this solid gain. According to the note, the broker has upgraded the investment platform provider's shares to a buy rating with a price target of 52 cents. Goldman made the move on valuation grounds after a sharp share price decline in 2019.
The Pro Medicus Limited (ASX: PME) share price has climbed 4% to $21.27 after being the subject of a positive broker note. According to a note out of Morgans, its analysts have initiated coverage on this health imaging IT provider's shares with an add rating and $23.69 price target. Morgans believes Pro Medicus has strong growth potential thanks to its popular Visage product suite. It has forecast strong revenue growth over the coming years and expects margins to widen, bolstering its earnings and dividend growth.
