Why AGL, Genetic Signatures, Liontown, and Novonix shares are charging higher

Concept image of a businessman riding a bull on an upwards arrow.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.1% to 7,447.7 points.

Four ASX shares that have not let that hold them back are listed below. Here’s why they are charging higher:

AGL Energy Limited (ASX: AGL)

The AGL Energy share price is up 8% to $6.80. Investors have been buying this energy company’s shares after they were upgraded by analysts at Credit Suisse. According to the note, the broker has upgraded the AGL shares to an outperform with a lofty price target of $8.50.

Genetic Signatures Ltd (ASX: GSS)

The Genetic Signatures share price is up 5% to $1.75. This morning the diagnostics company announced that the Therapeutic Goods Administration has registered a saliva-based protocol to collect and test patients for COVID-19 using its flagship 3base EasyScreen SARS-CoV-2 (COVID-19) Detection Kit. Management believes this style of collection will be particularly helpful with Omicron strain.

Liontown Resources Limited (ASX: LTR)

The Liontown Resources share price is up 2% to $1.57. This follows news that the lithium developer has awarded a key contract to Metso-Outotec for the design, fabrication, and delivery of a Semi Autogenous Grinding (SAG) Mill for its flagship Kathleen Valley Lithium Project in Western Australia. Management notes that this puts it on course to achieve its target of first production of lithium concentrate in 2024.

Novonix Ltd (ASX: NVX)

The Novonix share price has jumped 11% to $10.38. This morning the battery materials company announced plans for a secondary listing on the Nasdaq index on Wall Street. Novonix hopes that listing on the famous stock exchange will allow US investor and fund managers the opportunity to invest in the growing company.

The post Why AGL, Genetic Signatures, Liontown, and Novonix shares are charging higher appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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