Why these 4 ASX shares climbed higher today

It has been a bit of a mixed day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index has slipped lower and is down over 0.1% to 6,015.3 points.

Four shares that have defied the market and pushed higher are listed below. Here’s why they are climbing higher today:

The Air New Zealand Limited (ASX: AIZ) share price has risen almost 3% to $2.98 following the airline’s investor day. According to its investor day presentation, despite a sharp rise in fuel costs management has reaffirmed that the airline expects FY 2018 earnings before tax to be higher than in FY 2017.

The Orocobre Limited (ASX: ORE) share price has raced over 5% higher to $5.21. Today’s gain appears to be related to a change of director’s interest notice filed yesterday. That notice revealed that non-executive chairman Robert Hubbard has been buying shares on market this week. Mr Hubbard bought 5,000 shares for just under $25,000, lifting his holding to 70,293 shares. This may have quashed concerns that the lithium miner could be struggling with its production targets,

The Telstra Corporation Ltd (ASX: TLS) share price has pushed 3.5% higher to $2.86 after the telco giant was upgraded by Ord Minnett. According to the note, the broker has upgraded Telstra’s shares to an accumulate rating with a $3.30 price target. The broker appears to believe that its investor day next week will be a positive affair and could provide catalysts to drive its share price higher.

The Webjet Limited (ASX: WEB) share price has climbed 4% higher to $13.56. This morning the online travel agent’s shares were upgraded by Morgan Stanley to an equal-weight rating with an improved price target of $12.60. The broker previously had an underweight (sell) rating on Webjet’s shares. I would go one further than Morgan Stanley and suggest Webjet as a buy. I think its solid long-term growth prospects make it one of the best growth shares on the ASX.

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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 Telstra Limited. The Motley Fool Australia has recommended Webjet Ltd. 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 Scott Phillips.

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