Business
Why Megaport, Netwealth, PointsBet, & Zip shares are racing higher
In morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning streak. At the time of writing, the benchmark index is up 0.6% to 6,810.6 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:
The Megaport share price is up 3.5% to $12.52. Investors have been buying the global elastic interconnection services provider’s shares after Goldman Sachs upgraded them to a buy rating with a $15.00 price target. The broker expects Megaport to benefit from growing demand for public cloud infrastructure and the broadening of its product suite. Goldman also has increased confidence on its path to generating positive free cash flow.
The Netwealth share…
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