The S&P/ASX 200 Index (ASX: XJO) has followed Wall Streetâs lead and is on course to end the week with a decline. In afternoon trade, the benchmark index is down 0.4% to 7,335.4 points.
Four ASX shares that are not letting that hold them back today are listed below. Hereâs why they are pushing higher:
Link Administration Holdings Ltd (ASX: LNK)
The Link share price is up 2.5% to $2.19. This morning, analysts at Citi upgraded this administration services companyâs shares to a buy rating with a $2.45 price target. The broker was pleased with news that Link has agreed a deal to sell its LFS business to Waystone and settle with the FCA. Citi feels this is a big positive and has been surprised by the marketâs muted response.
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas share price is up 5% to $6.86. This follows the release of the rare earths producerâs quarterly update. Lynas reported a 9% quarter on quarter increase in sales revenue to $237.1 million. This was underpinned by strong neodymium and praseodymium (NdPr) production.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price is up almost 2% to $9.99. Investors have been buying this pharmaceutical companyâs shares this week following the release of its quarterly update. Telix reported first quarter revenue of $100.1 million, which was up from $3.7 million a year earlier and 27% from $79 million in the fourth quarter of FY 2022.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 6% to $7.38. This has been driven by the release of the coal minerâs quarterly update. As expected, Whitehaven Coal reported a 12% reduction in production to 4.3 million tonnes and a 24% decline in its average coal price. The company also maintained its recently revised guidance for FY 2023.
The post Why Link, Lynas, Telix, and Whitehaven Coal shares are pushing higher today appeared first on The Motley Fool Australia.
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More reading
- Lynas share price gains despite quarterly revenue taking a 28% dive
- Whitehaven share price lifts as production tumbles 12%
- How to mine $100 a month in passive income from 2 ASX 200 coal stocks
- Here are the top 10 ASX 200 shares today
- Why Bank of Queensland, Link, Silk Laser, and Zip shares are pushing higher
Motley Fool contributor James Mickleboro has positions in Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Link Administration. 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 Scott Phillips.
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