Why these ASX 200 shares could surge in 2024
The first ASX 200 share earning a broker upgrade is medical device developer Polynovo Ltd (ASX: PNV).For its half-year results (1H FY 2024) Polynovo reported a 54.9% year on year increase in sales to $42.2 million. That represents a new half-year record for the healthcare stock.Meanwhile, revenue soared 65.6% from 1H FY 2023 to $48.8 million. And net profit after tax (NPAT) came in at $2.7 million, up from a loss of $3.8 million.The Polynovo share price closed down 1.7% yesterday. But investor sentiment has turned sharply bullish today, with Polynovo shares up 9.3% in afternoon trade at $2.17.Wilsons sees further upside potential even after that big boost. The broker raised Polynovo to an overweight rating with a $2.44 price target. That represents a potential 12% gain from current levels.
Posted via motley fool
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Last
$2.33 |
Change
0.030(1.30%) |
Mkt cap ! $1.609B | |||
| Open | High | Low | Value | Volume |
| $2.29 | $2.34 | $2.27 | $2.949M | 1.276M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 19139 | $2.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.34 | 14111 | 3 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| PNV (ASX) Chart |