The S&P/ASX 200 Index (ASX: XJO) is having another positive session on Wednesday. In afternoon trade, the benchmark index is up 0.35% to 7,134.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:
Incitec Pivot Ltd (ASX: IPL)
The Incitec Pivot share price is up 4.5% to $2.89. This morning, the agricultural chemicals company revealed that it is considering approaches for its fertiliser business. No details have been provided but management is weighing up the offer against its current plan of spinning off the business.
Jumbo Interactive Ltd (ASX: JIN)
The Jumbo share price is up 3% to $14.25. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has retained its outperform rating and lifted its price target on the online lottery ticket seller's shares to $17.45. Macquarie is confident that Jumbo will have a solid year in FY 2024 and is forecasting strong earnings growth.
Megaport Ltd (ASX: MP1)
The Megaport share price is up a further 4.5% to $9.39. Investors have been scrambling to buy this elastic interconnection services provider's shares this week after it upgraded its guidance for FY 2023. This news went down well with analysts at UBS. In response, the broker has retained its buy rating on the company's shares with an improved price target of $12.50.
Neometals Ltd (ASX: NMT)
The Neometals share price is up 8% to 50.7 cents. This morning, this battery materials company announced a binding offtake agreement with mining giant Glencore for vanadium products produced by the Vanadium Recovery Project. Neometals has a 72.5% ownership interest in the project.
