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Why a2 Milk, Automotive Holdings, Cochlear, & Nearmap shares stormed higher today

The Motley Fool logo The Motley Fool 4/16/2019 James Mickleboro
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The benchmark S&P/ASX 200 index has rebounded from a weak start to the day and is notably higher in afternoon trade. At the time of writing the benchmark index is up 0.4% to 6,275 points.

Four shares climbing more than most on Tuesday are listed below. Here’s why they have stormed higher:

The A2 Milk Company Ltd (ASX: A2M) share price has continued its strong run and is up a further 2.5% to $14.95. Earlier today the infant formula and fresh milk company’s shares hit an all time high of $15.13. This latest gain means the a2 Milk Company’s share price has risen a staggering 44% since the start of the year.

The Automotive Holdings Group Ltd (ASX: AHG) share price has risen 3.5% to $2.40 following the release of a positive broker note out of the Macquarie equities desk. According to the note, the broker has upgraded the auto retailer’s shares to an outperform rating and lifted the price target on them to $2.65. Macquarie believes the proposed merger with industry rival AP Eagers Ltd (ASX: APE) is compelling for shareholders.

The Cochlear Limited (ASX: COH) share price has stormed 6.5% higher to $178.53 after the hearing solutions company announced the launch of the Nucleus Profile Plus Series cochlear implant. The implant has been designed for routine 1.5 and 3 Tesla magnetic resonance imaging scans without the need to remove the internal magnet. Commercial availability commences in Germany with other European countries to follow over the coming months. After which, the product will be launched across other developed markets over the coming months, subject to the timing of regulatory approvals.

The Nearmap Ltd (ASX: NEA) share price has zoomed 5% higher to $3.44 after the aerial imagery technology company was named as the replacement for the soon to be acquired and delisted MYOB Group Ltd (ASX: MYO) in the benchmark S&P/ASX 200 index. Nearmap’s shares will join the index on April 25.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.


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