Why these 4 ASX shares are starting the week on a high

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of U.S. market and tumbled lower on Monday. In afternoon trade the index is down almost 0.4% to 6,278 points.

Four shares that have defied the market and pushed higher are listed below. Here’s why they are starting the week on a high:

The AMP Limited (ASX: AMP) share price is up over 4% to $3.44 following the release of a couple of positive broker notes. Both Credit Suisse and Morgan Stanley have the equivalent of buy ratings on the financial services company’s shares following the release of its plans to reset its business. While both brokers have lowered their price targets slightly to $4.50 and $4.30, respectively, they are still significantly higher than the current share price.

The EML Payments Ltd (ASX: EML) share price has surged 14% higher to $1.63 after the payment solutions company announced a five-year deal with German shopping mall operator ECE Projektmanagement. The deal will see EML manage the new consumer gift card program for 87 of their shopping malls in Germany. Management estimates the annualised Gross Debit Volume for this program to be approximately €90 Million (A$142 million).

The GUD Holdings Limited (ASX: GUD) share price has pushed 2% higher to $14.19. Today’s gain is likely to be attributable to a broker note out of Citi this morning. According to the note, the broker has retained its buy rating and increased its price target to $15.50 following the release of GUD Holdings’ full-year results on Friday.

The Telstra Corporation Ltd (ASX: TLS) share price is up 1.5% to $2.80 after the telco giant announced a new organisational structure. CEO Andrew Penn believes the changes are an important step in delivering its Telstra 2022 strategy and will help to ensure that it delivers rapidly and effectively on all commitments made to its customers and the market at its recent investor day. The market appears pleased with how swiftly the company has moved to address its problems.

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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 owns shares of Emerchants 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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