In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to keep its winning streak alive. At the time of writing, the benchmark index is up 0.2% to 7,103.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:
Image source: Getty Images
Breville Group Ltd (ASX: BRG)
The Breville share price is up 4% to $23.17. This appears to have been driven by a broker note out of Goldman Sachs. This morning, the broker upgraded the appliance manufacturer's shares to a buy rating with a $24.50 price target. It is "structurally positive on BRG's unique positioning in global coffee premiumisation trend."
Lithium Power International Ltd (ASX: LPI)
The Lithium Power International share price was up 19% to 41.5 cents before being paused from trade. This follows reports that the lithium explorer is close to agreeing to a takeover deal. Corporación Nacional del Cobre de Chile (also known as Codelco) is reportedly close to agreeing to a deal to acquire Lithium Power International for $315 million or 50 cents per share.
Redbubble Ltd (ASX: RBL)
The Redbubble share price is up 24% to 57 cents. This follows the release of an update from the e-commerce company. According to the release, Redbubble returned to positive underlying cash flow during the three months ended 30 September. It reported underlying cash flow of $0.7 million, which is up from a cash outflow of $17.6 million in the prior corresponding period.
Webjet Limited (ASX: WEB)
The Webjet share price is up 2% to $6.63. This also appears to have been driven by a broker note out of Goldman Sachs. The broker has upgraded the online travel agent's shares to a buy rating with an $8.30 price target. Goldman believes "the recent sell off [is] overdone."
