In afternoon trade the the S&P/ASX 200 Index (ASX: XJO) is off its lows but still deep in the red. At the time of writing the benchmark index is down 1.9% to 5,943 points.
Four shares that have not let that hold them back are listed below. Here's why they are pushing higher:
The Lendlease Group (ASX: LLC) share price is up 2.5% to $11.88. Investors have been buying the international property and infrastructure company's shares after brokers responded positively to its strategy update. One broker that liked what it saw was Goldman Sachs. This morning it retained its conviction buy rating and lifted the price target on its shares to $16.37.
The Redbubble Ltd (ASX: RBL) share price has jumped 6% to $4.16. This is despite there being no news out of the ecommerce company. However, last week analysts at Morgans upgraded the company's shares from a reduce rating to an add rating with an improved price target of $4.33. It was impressed with its full year results and believes it is in the right place at the right time.
The Sealink Travel Group Ltd (ASX: SLK) share price is up over 4% to $4.95. Investors have been buying the travel and transport company's shares since the release of its full year results on Monday. One broker that was pleased with its results was Ord Minnett. This morning its retained its buy rating and lifted the price target on its shares to $6.08. It likes the way the company is transforming into a defensive business with growth options.
The Starpharma Holdings Limited (ASX: SPL) share price has jumped 11.5% higher to $1.69. The catalyst for this was the announcement of the development of a slow release soluble DEP remdesivir nanoparticle. According to the release, Starphrma has applied its novel DEP drug delivery technology to create a long-acting, water soluble version of remdesivir. Remdesivir is an antiviral drug which is currently being developed by US giant Gilead to treat COVID-19.
