In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing the index is up 0.15% to 5,329.4 points.
Four shares that are climbing more than most today are listed below. Here's why they are pushing higher:
The Accent Group Ltd (ASX: AX1) share price is up 5% to $1.10. Investors have been buying the footwear retailer's shares this week following an update which revealed that its Digital sales have exploded over the last few weeks. One broker that was impressed was Morgan Stanley. This morning it slapped an overweight rating and $1.40 price target on the company's shares.
The Aristocrat Leisure Limited (ASX: ALL) share price is up almost 4% to $22.86. This gain appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has retained its add rating and trimmed the price target on its shares to $31.88. This price target implies substantial upside for its shares over the next 12 months.
The MNF Group Ltd (ASX: MNF) share price has climbed 3% to $4.85. Investors have been buying the telecommunications and unified communication technologies provider's shares after the release of a positive update. MNF revealed that the coronavirus pandemic is creating greater demand for voice and collaboration technology. This has driven strong demand for its core products and a significant increase in usage. As a result, the company has reaffirmed its guidance for EBITDA in the range of $36 million to $39 million for FY 2020. This represents year on year growth of 32% to 43.4%.
The Westpac Banking Corp (ASX: WBC) share price is up 2% to $14.97. This morning the banking giant announced that its impairment charges in the first half of FY 2020 are expected to be $2,238 million (pre-tax). However, management said it was "well positioned to absorb this increase and respond to future developments in the environment."
