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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$2.32 |
Change
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Mkt cap ! $1.601B |
Open | High | Low | Value | Volume |
$2.32 | $2.34 | $2.29 | $1.042M | 450.8K |
Buyers (Bids)
No. | Vol. | Price($) |
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27 | 28716 | $2.31 |
Sellers (Offers)
Price($) | Vol. | No. |
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$2.32 | 5447 | 5 |
View Market Depth
No. | Vol. | Price($) |
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22 | 25760 | 2.310 |
25 | 107870 | 2.300 |
18 | 78988 | 2.290 |
18 | 103014 | 2.280 |
7 | 144700 | 2.270 |
Price($) | Vol. | No. |
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2.320 | 1891 | 6 |
2.330 | 51067 | 26 |
2.340 | 36318 | 18 |
2.350 | 48696 | 17 |
2.360 | 46834 | 9 |
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