In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is defying overnight weakness on Wall Street and is pushing higher. At the time of writing, the benchmark index is up 0.3% to 7,400.8 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
AVITA Medical Inc (ASX: AVH)
The AVITA Medical share price has stormed 12% higher to $5.61. This morning the regenerative medicine company announced that it expects to outperform its fourth quarter revenue guidance. Instead of quarterly revenue of US$8.2 million to US$8.6 million, it is now expecting revenue in the range of US$9.5 million to US$9.7 million.
Cettire Ltd (ASX: CTT)
The Cettire share price is up 6% to $2.10. The online luxury goods seller’s shares are rebounding on Wednesday following a sharp decline on Tuesday amid concerns over its business model and the authenticity of the products it sells. This morning Cettire defended its business and refuted the claims. It said: “Cettire has confidence in the sustainability of its supply chain and the authenticity of the products available on its platform.”
Lifestyle Communities Limited (ASX: LIC)
The Lifestyle Communities share price has jumped 7.5% to $15.37. This appears to have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has retained its conviction buy rating and lifted its price target to $16.50. Goldman believes its shares are attractively priced given its solid growth prospects thanks to its exposure to the ageing populations tailwind.
SEEK Limited (ASX: SEK)
The SEEK share price is up 2.5% to $33.07. Investors have been buying the job listings company’s shares after it was the subject of a bullish broker note out of Macquarie. According to the note, the broker has retained its outperform rating and lifted its price target to $40.00. Macquarie believes SEEK will benefit greatly from improving yields on its ads when discounts are removed. It also expects the Australian unemployment rate to fall to 4% in 2023, underpinning strong growth in ad volumes.