In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is rebounding strongly from recent declines. At the time of writing, the benchmark index is up 2.3% to 6,994.7 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are charging higher:
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Champion Iron Ltd (ASX: CIA)
The Champion Iron share price is up 7% to $6.25. This follows a positive reaction to the iron ore producer's quarterly update from a number of brokers. One of those brokers is Citi. This morning the broker retained its buy rating and lifted its price target on the company's shares to $6.50. Citi was pleased with its quarterly update and has adjusted its estimates to reflect stronger iron ore prices.
Dusk Group Ltd (ASX: DSK)
The Dusk share price is up 14% to $2.70. Investors have been buying the retailer's shares following the release of a bullish broker note out of Shaw & Partners. According to the note, the broker has retained its buy rating and lifted its price target on the company's shares to $3.70.
Hipages Group Holdings Ltd (ASX: HPG)
The Hipages share price is up 7.5% to $3.00. Investors have been buying the tradie marketplace provider's shares after Goldman Sachs reaffirmed its buy rating on them following a disappointing quarterly update. The broker believes the soft quarter was a one-off due to COVID impacts and nothing structural. Goldman has a $3.60 price target on its shares.
Imugene Limited (ASX: IMU)
The Imugene share price is up 9% to 31.2 cents following the receipt of a patent. According to the release, the immuno-oncology company has received a notice of grant from the European Patent Office for its HER-Vaxx immunotherapy. This is currently in development for HER-2 positive gastric cancer.
