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Three stocks that surged on ASX - Amaysim, JB Hi-Fi & Beach Energy

Jul 19, 2016 | Team Kalkine
Three stocks that surged on ASX - Amaysim, JB Hi-Fi & Beach Energy

Amaysim Australia Ltd


AYS Details
  • Positive broadband strategy: Amaysim Australia Ltd (ASX: AYS) stock surged over 6.2% on July 19, 2016 as investors reacted positively to the group’s accelerated broadband strategy. The group intends to extend their disruptive technology-led approach even for broadband market. AYS made an agreement to buy Australian Broadband Services and developed a distinct and feature-rich platform for ADSL and NBN provisioning and subscriber management. Under the takeover agreement, AYS will acquire all the shares in AusBBS’ holding company Australian Broadband Services while paying $1 million in cash and $1.5 million in shares upon the expected completion of the deal in late August. Management believes that they would be able to penetrate the broadband market in the coming 12 months by leveraging the likely customer switching behavior which would come from the ongoing NBN rollout.
  • Recommendation: We give a “Buy” recommendation on the stock at the current price of $1.975
 
JB Hi-Fi Limited


JBH Details
  • More upside potential: JB Hi-Fi Limited (ASX: JBH) stock surged over 2% on July 19, 2016. JBH reported that they are in talks with The Good Guys and market expects JBH for a bidding proposal. The growing penetration of the “Pokemon Go” game is also indirectly driving the stocks related to this game. JBH is considered to be one among such stocks which could benefit from this app. Meanwhile, JBH stock has delivered over 8.6% in the last three months (as of July 18, 2016) as the stock was able to meet the performance expectations and taking initiatives to get back to its growth track.
  • Recommendation: We give a “Hold” at the current price of $24.76
 
Beach Energy Ltd


BPT Details
  • Positive prospects: Beach Energy Ltd (ASX: BPT) stock rallied over 3.3% on July 19, 2016 driven by the oil prices. The group has been delivering positive exploration results as well, wherein its South Australian Gas project’s second and third wells of the campaign, Tirrawarra?92 and Tirrawarra?91, respectively, were also cased and suspended as future producers. Queensland Gas project’s two out of the three?wells were also cased and suspended as prospect producers after identification of gas pay in the Toolachee Formation, which was in line with pre?drill estimates. In fact, gas production at Udacha gas field (PRL 26), which is operated by BPT while Rawson Resources Ltd has 10% interest, has also commenced.
  • Recommendation: We maintain our bullish stance on the stock and put a “Buy” recommendation at the current price of  $0.635

Disclaimer
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