Why Beach Energy, Elders, Lake Resources, and Premier Investments are rising today

These shares are having a strong session, but why?

| More on:
A women cheers with clenched fists having read some good news on her laptop.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory but has fallen just short. In afternoon trade, the benchmark index is down slightly to 7,808.1 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is up over 5% to $1.83. This appears to have been driven by a broker note out of Morgans this morning. According to the note, its analysts have upgraded the energy producer's shares to an add rating with an improved price target of $2.15.

Elders Ltd (ASX: ELD)

The Elders share price is up 4% to $9.31. This may have been driven by a broker note out of UBS this morning. Although the broker has only retained its neutral rating on the agribusiness company's shares, it has boosted its valuation materially. UBS has lifted its price target by 35% to $9.70.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price is up 3% to 6.8 cents. This morning, this lithium developer announced that it has submitted its Production Environmental Impact Assessment for the Kachi lithium project to the Catamarca Ministry of Mining. Its CEO, David Dickson, said: "Kachi stands as a testament to our adoption of a prudent and groundbreaking approach to lithium brine extraction, aiming for the advancement of sustainable and responsible lithium production."

Premier Investments Limited (ASX: PMV)

The Premier Investments share price is up 2.5% to $31.40. This follows the release of the retail giant's half-year results this morning. Premier Investments reported a 2.8% decline in sales to $879.5 million and a 0.9% reduction in profit before tax to $241.8 million. The latter was ahead of the market's expectations. The company also announced plans to demerge its Smiggle and Peter Alexander businesses in 2025.

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Elders and Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Woman with an amazed expression has her hands and arms out with a laptop in front of her.
Share Gainers

Why GenusPlus, NIB, Superloop, and Titomic shares are racing higher today

These shares are starting the week on a positive note. But why?

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Up 99% in a year, guess which ASX 300 stock is rocketing higher again today

Investor are piling into the $1.6 billion ASX 300 company again today. But why?

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to the trading week for investors this Friday.

Read more »

A young boy points and smiles as he eats fried chicken.
Share Gainers

3 ASX All Ords shares smashing the benchmark this week

Investors are sending these three ASX All Ords shares rocketing 18% to more than 29% this week. But why?

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Alliance Aviation, BHP, Boss Energy, and Orthocell shares are racing higher

These shares are ending the week on a positive note. But why?

Read more »

Man with backpack spreading his arms out and soaking in the sun.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing session for investors today.

Read more »

Hands reaching high for a trophy with a sunset in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a nervous hump day session for ASX investors today.

Read more »

Woman with an amazed expression has her hands and arms out with a laptop in front of her.
Share Gainers

Why Collins Foods, DroneShield, Star Entertainment, and Virgin Australia shares are charging higher

These shares are having a good time on hump day. But why?

Read more »