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Amidst a sluggish start for the S&P/ASX 200 Index this week, the index closed 0.83% up to 7,006.70 points. Several ASX-listed companies followed the trend and witnessing notable upticks in their share prices.
Here are three ASX shares making strides.
Boral Limited (ASX:BLD)
The Boral share price surged by 1.83% to close at AU$5.02 apiece following the building materials company's upgrade of its FY 2024 earnings guidance. Buoyed by a robust start to the financial year, Boral anticipates its earnings before interest and tax (EBIT) to fall within the $300 million to $330 million range, marking a substantial increase from the previous $270 million to $300 million projection. This revised guidance signals a remarkable 36% year-on-year growth.
Fleetpartners Group Ltd (ASX:FPR)
Fleetpartners witnessed a 3.70% surge in its share price to AU$2.80 following the release of its FY 2023 results. The fleet management company, previously known as Eclipx, reported a 21% decrease in net profit after tax and amortisation to $88 million, attributing the decline to the normalization of COVID-19 related tailwinds.
NIB Holdings Limited (ASX:NHF)
NIB's share price climbed 1.07% to close at AU$7.55 after Citi upgraded the private health insurer's shares to a buy rating with a price target of $8.35. This positive movement comes on the heels of the company's quarterly update, which showcased promising growth in its arhi division compared to the previous year, as well as steady momentum in iihi and NZ segments. Citi expressed optimism, stating, "With arhi reporting stronger growth than at this stage a year ago and decent momentum in iihi and NZ, we believe nib looks attractive."
Despite the broader market's lackluster performance, these three ASX-listed companies are riding on positive developments and outlooks, showcasing resilience and investor confidence amidst the prevailing market weakness.
