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Why these 4 ASX shares have climbed higher today

It has been another disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is on course to make it a third day in a row of declines with a 0.3% decline to 6,191.5 points.

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

The AMA Group Ltd (ASX: AMA) share price is up 2% to 98 cents after being touted as a takeover target. According to Bell Potter’s analysts, courtesy of the AFR, Blackstone could bid for AMA Group after its demerger plan was denied by an unfavourable Australian Tax Office ruling. The broker has a buy rating and price target of $1.25 on the crash repair company’s shares.

The Australian Pharmaceutical Industries Ltd (ASX: API) share price has continued its rise and pushed a further 3.5% to $1.49. Yesterday the pharmacy chain operator and distributor announced plans to acquire Clearskincare Clinics for $127.4 million. The market appears pleased by this new business venture.

The Flight Centre Travel Group Ltd (ASX: FLT) share price has climbed 2% to $64.37 after the travel agent was the subject of a positive broker note out of UBS. According to the note, the broker has retained its buy rating and increased the price target on Flight Centre’s shares to $69.00. UBS suspects that positive trading conditions could lead to the company outperforming its earnings growth guidance this year.

The Noni B Limited (ASX: NBL) share price has continued its strong form and is up 6% to $3.14 despite there being no news out of the retailer. Investors have been fighting to get hold of Noni B’s shares since it announced a new acquisition last month which many believe will lead to more strong sales and earnings growth in FY 2019 and beyond.

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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 Flight Centre Travel Group 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 Scott Phillips.

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