The S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory but has fallen just short. In afternoon trade, the benchmark index is down slightly to 7,808.1 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:
Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is up over 5% to $1.83. This appears to have been driven by a broker note out of Morgans this morning. According to the note, its analysts have upgraded the energy producer’s shares to an add rating with an improved price target of $2.15.
Elders Ltd (ASX: ELD)
The Elders share price is up 4% to $9.31. This may have been driven by a broker note out of UBS this morning. Although the broker has only retained its neutral rating on the agribusiness company’s shares, it has boosted its valuation materially. UBS has lifted its price target by 35% to $9.70.
Lake Resources N.L. (ASX: LKE)
The Lake Resources share price is up 3% to 6.8 cents. This morning, this lithium developer announced that it has submitted its Production Environmental Impact Assessment for the Kachi lithium project to the Catamarca Ministry of Mining. Its CEO, David Dickson, said: “Kachi stands as a testament to our adoption of a prudent and groundbreaking approach to lithium brine extraction, aiming for the advancement of sustainable and responsible lithium production.”
Premier Investments Limited (ASX: PMV)
The Premier Investments share price is up 2.5% to $31.40. This follows the release of the retail giant’s half-year results this morning. Premier Investments reported a 2.8% decline in sales to $879.5 million and a 0.9% reduction in profit before tax to $241.8 million. The latter was ahead of the market’s expectations. The company also announced plans to demerge its Smiggle and Peter Alexander businesses in 2025.
The post Why Beach Energy, Elders, Lake Resources, and Premier Investments are rising today appeared first on The Motley Fool Australia.
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More reading
- Lake Resources share price surges on sustainable lithium news
- Premier Investments share price jumps 9% on results and demerger plans
- 5 things to watch on the ASX 200 on Tuesday
- Here are the top 10 ASX 200 shares today
- If I were Warren Buffett, I’d buy these ASX shares in a heartbeat
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 recommended Elders and Premier Investments. 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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