Morgans have retained their
add rating but trimmed their price target on this medical device company’s shares to $29.14. This follows the release of a third quarter result last week which the broker felt was mixed. However, Morgans believes the headwinds the company is facing are cyclical and not structural. As a result, it believes the future remains positive for ResMed. Particularly given the upcoming launch of the next generation sleep apnoea platform, AirSense 11. The ResMed share price is fetching $25.06 on Monday morning.
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Why these ASX shares just stormed to 52-week highs or better
James Mickleboro | January 22, 2021 7:11am |
More on:
The
S&P/ASX 200 Index (ASX: XJO) was on form again on Thursday and stormed higher.
While a good number of shares climbed higher with the market, some climbed so much they hit new highs.
Here’s why these ASX shares have just hit 52-week highs or better:
The Galaxy Resources share price continued its incredible run and hit a two and a half year high of $3.19 on Thursday. This means the lithium miner’s shares have now rallied 220% over the last six months. Investors have been scrambling to buy Galaxy and other lithium miners due to optimism over demand for the battery making ingredient thanks to the growing adoption of electric vehicles and US President Joe Biden’s plan to lead a transition to renewable energy. According to Metal Bulletin, China’s domestic battery-grade lithium carbonate prices rose to a 14-month high late last week.