Blackmores shares are surging

ChinaFotoPress/Getty Images

Shares in Blackmores jumped after a broker upgraded the vitamin maker.

A short time ago, they were up 3.5% to $142.50.

CLSA moved Blackmores to outperform from sell and lifted the price target to $150.

The company yesterday posted a 28% rise in profit to $15.4 million for the first quarter of 2018, saying direct sales to China grew 28% compared to the same quarter last year.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at