In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a sizeable decline. At the time of writing, the benchmark index is down 1.4% to 6,662.8 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:
Baby Bunting Group Ltd (ASX: BBN)
The Baby Bunting share price is up over 2% to $2.74. This appears to have been driven by a broker note out of Morgans today. According to the note, the broker believes that recent share price weakness has created a buying opportunity. Morgans has retained its add rating with a reduced price target of $3.60.
Brickworks Limited (ASX: BKW)
The Brickworks share price is up 2.5% to $22.25. Investors have been buying this building products company’s shares after it was the subject of a bullish broker note. According to a note out of UBS, its analysts have upgraded Brickworks’ shares to a buy rating with a $25.30 price target. The broker made the move after increasing its earnings estimates materially for FY 2023.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 5% to $1.21. This morning Core Lithium revealed that its managing director Stephen Biggins will step down with immediate effect. With the recent official opening of the Finniss Lithium Mine and appointment of Gareth Manderson as CEO, Biggins has decided it is the appropriate time to exit. Rising lithium prices have also given its shares a boost.
Dreadnought Resources Ltd (ASX: DRE)
The Dreadnought Resources share price is up 5% to 10 cents. This follows the release of an update on drilling activities at the 100% owned Mangaroon project. According to the release, the company has intersected thick rare earth mineralisation in both fresh and weathered material. Managing Director, Dean Tuck, commented: “We are already off to a good start so the next few months should be extremely exciting.”
The post Why Baby Bunting, Brickworks, Core Lithium, and Dreadnought Resources are pushing higher appeared first on The Motley Fool Australia.
More reading
- Why are these ASX 200 lithium shares smashing it on Monday?
- Leading brokers name 3 ASX shares to buy today
- Why is Core Lithium share price outperforming the ASX 200 today?
- Dividend beasts: Experts name 3 ASX dividend shares that could deliver 50% returns next year
- What’s the outlook for ASX battery metals shares in Q2?
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 positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool Australia has recommended Baby Bunting. 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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