On Wednesday the S&P/ASX 200 index returned to form and pushed higher.
Whilst a good number of shares pushed higher with it, some managed to climb to 52-week highs or better. Here's why these ASX 200 shares have just hit new highs:
Cochlear Limited (ASX: COH)
The Cochlear share price surged higher on Wednesday and hit a record high of $251.55. Whilst investors have been bidding the hearing solutions company's shares higher for some time due to its strong performance in FY 2019 and its positive long-term outlook, this latest gain appears to have been driven by a broker note. Yesterday analysts at Macquarie upgraded Cochlear's shares all the way from an underperform rating to an outperform rating. The broker also lifted the price target on its shares materially to $250. It made the move following news that a rival has recalled a key competing product. It expects this to lessen competition in the industry.
CSL Limited (ASX: CSL)
The CSL share price continued its positive run and reached a record high of $341.00 on Wednesday. Investors have been fighting to get hold of the biotherapeutics company's shares following the release of another strong half year result. CSL delivered an 11% lift in net profit after tax to almost US$1.25 billion during the first half. This was driven by strong demand for immunoglobulin products and a solid performance by its Seqirus influenza vaccines business.
Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's share price was on fire on Wednesday and zoomed to a multi-year high of $66.19. Investors were scrambling to buy the pizza chain operator's shares after it delivered a stronger than expected half year result. For the six months ended December 31, Domino's reported a 10.6% increase in global food sales to $1.58 billion. This was driven by the opening of 85 new stores and a solid 4.1% increase in same store sales. Also growing at a solid rate was the company's EBITDA. It grew 10% over the prior corresponding period to $151 million. Pleasingly, management revealed that the second half has started strongly and same store sales are now up 4.6% financial year to date.
