Why Domino's, New Hope, PolyNovo, and Telstra shares are pushing higher today

These ASX shares are having positive days…

| More on:
A happy group of workers around a table raise their arms in the air as though celebrating a work achievement. One woman is on her feet with her arm raised in the air in a fist-pumping action.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is out of form on Thursday. In afternoon trade, the benchmark index is down 0.1% to 7,318.3 points.

Four ASX shares that aren't letting that hold them back today are listed below. Here's why they are pushing higher:

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's share price is up 2% to $68.35. This morning analysts at Morgans reiterated their add rating with an improved price target of $90.00. It said: "Recent positive share price movements in the global QSR sector, combined with the accretive impact of the [German joint venture] transaction, result in our target price increasing from $88 to $90. We retain an ADD rating."

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is up 2% to $5.77. Investors have been buying New Hope and other coal miner shares on Tuesday. They appear to be betting on coal prices remaining higher for longer, which is likely to underpin bumper profits and dividends in the near term.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is up over 1.5% to $1.96. This appears to have been driven by a bullish broker note out of Macquarie. According to the note, the broker has retained its outperform rating and lifted its price target on the medical device company's shares to $2.30. Macquarie believes PolyNovo is well-placed for growth following its recent capital raising.

Telstra Group Ltd (ASX: TLS)

The Telstra share price is up 1.5% to $4.07. This is despite there being no news out of the telco giant. However, it is worth noting that Morgan Stanley spoke positively about the company on Monday. According to the note, the broker has retained its overweight rating and lifted its price target to $4.75. Morgan Stanley suspects that a major share buyback could be undertaken if Telstra's restructure leads to assets being sold off.

Motley Fool contributor James Mickleboro has positions in Domino's Pizza Enterprises. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended PolyNovo. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Domino's Pizza Enterprises. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Silhouettes of nine people climbing a steep mountain to the top at sunset, and helping each other along the way.
Share Gainers

Here are the top 10 ASX 200 shares today

The markets took a turn for the worse again today.

Read more »

An executive in a suit smooths his hair and laughs as he looks at his laptop feeling surprised and delighted.
Share Gainers

Why APA, Aurelia Metals, Magnetic Resources, and ResMed shares are rising today

These shares are avoiding the market selloff on Tuesday.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a positive start to the week for ASX investors.

Read more »

Shot of a young businesswoman looking stressed out while working in an office.
Share Gainers

Why Johns Lyng, Qantas, St Barbara, and Super Retail shares are falling today

These shares are starting the week in the red. But why?

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why ALS, Life360, Nuix, and Sovereign Metals shares are pushing higher today

These shares are having a good start to the week. But why?

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a horrid end to the trading week this Friday.

Read more »

Three people jumping cheerfully in clear sunny weather.
Share Gainers

3 ASX 200 stocks rocketing higher this week even as the market dives

These three ASX 200 stocks are shrugging off the wider market sell-off this week to leap higher.

Read more »

Ecstatic man giving a fist pump in an office hallway.
Share Gainers

Why Insignia, Meteoric Resources, Qantas, and West African shares are pushing higher today

These shares are avoiding the market selloff today.

Read more »