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Why these 4 ASX shares have climbed higher today

Although it has bounced off its lows, in afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down 0.3% to 5,702 points.

Four shares which have defied the market and climbed higher today are listed below. Here’s why they are higher:

The ALS Ltd (ASX: ALQ) share price has jumped 7% to $7.69 thanks to a positive research note out of Credit Suisse. According to the note, its analysts are optimistic that gold mining exploration activities will ramp up, leading to increased demand for ALS Ltd’s testing services. Whilst I like the company, I would suggest investors hold out for a pull back before investing.

The Capilano Honey Ltd (ASX: CZZ) share price has climbed 5% to $15.49 despite there being no news out of the honey producer. But with its shares down around 22% in the last 12 months, I suspect bargain hunters are swooping in today. I wouldn’t blame them either, at a little under 14x trailing earnings I think its shares are great value.

The Skydive the Beach Group Ltd (ASX: SKB) share price is up almost 5% to 66 cents. Last week the adventure company provided an update on its Skydive Wanaka operations. The business had targeted 17,000 tandem skydives in FY 2017. Pleasingly by the end of May it had already surpassed its target and has smashed last year’s 14,511 dives. I think the company could be a big winner from the tourism boom and is worth taking a closer look at.

The Whitehaven Coal Ltd (ASX: WHC) share price is up 4% to $2.85. Much like ALS, today’s gain appears to be related to a positive broker note. According to a note out of Morgan Stanley, Whitehaven’s shares have been upgraded to an overweight rating with a $3.55 price target. The investment bank believes the global outlook is favourable, supporting commodity prices.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Capilano Honey Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.