The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decent gain. In afternoon trade, the benchmark index is up 0.35% to 7,494 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Liontown Resources Ltd (ASX: LTR)
The Liontown share price is up 6% to $1.63. This is despite there being no news out of the lithium developer. However, a number of lithium shares are rising today. This may be due to optimism that lithium prices will stay higher for longer. This would be particularly good news for Liontown, which is expected to commence production next year.
Megaport Ltd (ASX: MP1)
The Megaport share price is up almost 6% to $7.33. Investors have been buying this network as a service operatorâs shares after Morgans upgraded them to an add rating with a $9.00 price target. It commented: âValuations for quality tech are now back to 20 year / long run averages (fair value). Interest rates should normalise and, assuming this occurs, investors may reassess the fact that we are back into a no growth world.â
Origin Energy Ltd (ASX: ORG)
The Origin Energy share price is up 1.5% to $7.43. This morning, this energy company upgraded its Energy Markets earnings guidance for FY 2023. It now expects underlying EBITDA to be between $600 million and $730 million. This is up from $500 million to $650 million and excludes the potential impact of the introduction of the legislated coal price cap.
Tyro Payments Ltd (ASX: TYR)
The Tyro share price is up 3.5% to $1.55. This has been driven by news that Tyro has offered due diligence access to Potentia. This follows the recent non-binding takeover offer of $1.60 per share from the private equity company. While that offer was rejected, Tyro appears to be hoping that a better offer will be made once Potentia has done its due diligence.
The post Why Liontown, Megaport, Origin, and Tyro shares are pushing higher today appeared first on The Motley Fool Australia.
FREE Guide for New Investors
Despite what some people may say – we believe investing in shares doesn’t have to be overwhelming or complicated…
For over a decade, we’ve been helping everyday Aussies get started on their journey.
And to help even more people cut through some of the confusion “experts’” seem to want to perpetuate – we’ve created a brand-new “how to” guide.
Yes, Claim my FREE copy!
*Returns as of January 5 2023
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- Why is this ASX 200 tech share racing 6% higher today?
- Origin share price higher on earnings guidance upgrade
- Which ASX lithium share executive just invested $1.5 million in his company?
- Here are the top 10 ASX 200 shares today
- Here are the 3 most heavily traded ASX 200 shares on Tuesday
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 Megaport and Tyro Payments. The Motley Fool Australia has recommended Megaport and Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/NqIG5yR
Leave a Reply