Why Appen, Endeavour, Imugene, and Treasury Wine shares are pushing higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. At the time of writing, the benchmark index is down 0.7% to 7,436.9 points.

Four ASX shares that aren’t letting that stop them from climbing today are listed below. Here’s why they are pushing higher:

Appen Ltd (ASX: APX)

The Appen share price is up 12% to $3.31. Investors have been buying this artificial intelligence data services company’s shares despite there being no news out of the company. However, investors appear to be betting that significant investment in artificial intelligence from tech giants in response to the emergence of ChatGPT could underpin increased demand for Appen’s services.

Endeavour Group Ltd (ASX: EDV)

The Endeavour share price is up 2% to $6.79. This may have been driven by a broker note out of UBS. Its analysts have taken their sell rating off the drinks company’s shares and upgraded them to a neutral rating with a $6.75 price target. UBS believes regulatory risks are now adequately priced in.

Imugene Limited (ASX: IMU)

The Imugene share price is up 11% to 15 cents. This follows news that the biotech company has been granted a patent in the United States. The patent relates to the company’s B-cell activating immunotherapy PD1-Vaxx. It is currently in development for the treatment non-small cell lung cancer.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is up 2% to $14.41. A broker note out of Morgan Stanley appears to have given this wine giant’s shares a boost. Its analysts highlight China’s reopening and the easing of trade tensions as potential positives for Treasury Wine. In respect to the latter, Chinese officials have suggested that they could revisit at tariffs imposed on Australian wines.

The post Why Appen, Endeavour, Imugene, and Treasury Wine shares are pushing higher appeared first on The Motley Fool Australia.

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More reading

• Treasury Wine share price climbs on China tariff hopes
• Guess which ASX 200 healthcare share is surging 5% on a new US patent?
• Appen share price soars again, up 29% since Monday
• Here are the top 10 ASX 200 shares today
• Beaten-up ASX 300 tech share Appen is booming 10% today

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 Appen. The Motley Fool Australia has recommended Treasury Wine Estates. 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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