Why these 4 ASX shares climbed higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to end its winning streak on Wednesday. At the time of writing the benchmark index has followed international markets lower and is down 0.6% to 6,021 points.

Four shares that have defied the market and made notably solid gains today are listed below. Here’s why they have climbed higher:

The Costa Group Holdings Ltd (ASX: CGC) share price is up over 5% to $7.20 a day after the release of its half-year results. One broker that was particularly impressed with the horticulture company’s results and guidance increase was Macquarie. A note out of the broker reveals that its analysts have retained their outperform rating and increased the price target on its shares to $7.60.

The Noni B Limited (ASX: NBL) share price has climbed 6.5% to $2.28 following the release of the retailer’s half-year results. For the six months ended December 31, Noni B delivered revenue growth of 35.1% to $193.2 million. This led to profit growth of 379.5% to $11.8 million, allowing the company to resume its interim dividend. Noni B declared a fully franked interim dividend of 9 cents per share, bringing its trailing yield to a generous 5.7%.

The Pilbara Minerals Ltd (ASX: PLS) share price is up 12.5% to 93.2 cents after the lithium developer announced that it has entered into a broad-based strategic relationship with leading South Korean industrial conglomerate POSCO. As per the agreement, POSCO has made an immediate upfront A$79.6 million direct equity investment at a premium of 97 cents per share.

The Speedcast International Ltd (ASX: SDA) share price has bounced back from yesterday’s decline and is up 5% to $5.48. The provider of satellite-based communication networks and services was given a lift this morning after the release of a favourable broker note out of UBS. According to the note, the broker has retained its buy rating and lifted the price target on Speedcast’s shares to $5.80.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. 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.

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