FBU, GQG and PLS: Three ASX stocks making strides on Friday

2 min read | February 16, 2024 04:39 PM AEDT | By Team Kalkine Media

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FBU, GQG and PLS: Three ASX stocks making strides on Friday — Image source: shutterstock

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On 16 February 2024, the S&P/ASX 200 Index is making noteworthy gains, showcasing a 0.69% surge to reach 7,658.3 points. Let's delve into the key performers driving this upward momentum.

Fletcher Building Ltd (ASX: FBU)

The Fletcher Building share price is experiencing a robust upswing, marking a nearly 5% increase to AU$3.35. Following a recent downturn, the building products company is rebounding, and experts at Ord Minnett see this as an opportune moment. The broker maintains a buy rating on the company's shares, setting an ambitious AU$5.70 price target.

GQG Partners Inc (ASX: GQG)

Investors are flocking to the GQG share price, witnessing an impressive almost 3.29% climb to AU$2.20. This surge follows the release of GQG Partners' full-year results, revealing an 18.5% surge in revenue to US$517.6 million and a substantial 15.7% increase in net operating income to US$384.4 million. Bolstered by these figures, the company announces a 30% boost in its final dividend to 2.6 US cents per share.

Pilbara Minerals Ltd (ASX: PLS)

With an impressive surge of almost 7.23% to AU$3.71, the Pilbara Minerals share price is capturing attention. Investors are diving into ASX lithium shares following reports of a potential multibillion-dollar initiative by the Albanese government. The aim is to compete with the United States Inflation Reduction Act, fostering the domestic development of clean energy technology.

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