In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and is racing higher. At the time of writing, the benchmark index is up 1.5% to 7,048.5 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
Appen Ltd (ASX: APX)
The Appen share price is up 6.5% to $2.59. As well as a rebound in the tech sector, this artificial intelligence data services company's shares were given a boost from a broker note out of Jefferies. According to the note, the broker believes Appen will deliver revenue of US$393 million in FY 2022, which is at the top end of its guidance range. And while Jefferies only has a hold rating on Appen's shares, its price target of $3.10 is meaningfully higher than current levels.
Hub24 Ltd (ASX: HUB)
The Hub24 share price is up 3.5% to $27.44. This wealth management platform provider's shares were also given a boost from a note out of Jefferies. Its analysts believe HUB24 could double its market share over the next decade.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 2.5% to $11.39. This follows another rise in the gold price overnight, which took the precious metal to a six-month high. This has led to the S&P/ASX All Ordinaries Gold index rising 2.2% this afternoon.
Pointsbet Holdings Ltd (ASX: PBH)
The PointsBet share price is up 6% to $1.59. In addition to benefiting from a tech rebound, an announcement yesterday could be giving PointsBet's shares a lift. On Tuesday, the sports betting company announced its launch in the state of Ohio in the United States. This marks the company's 14th online sports betting operation in the country.
