In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. At the time of writing, the benchmark index is down 0.35% to 7,271.9 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Cooper Energy Ltd (ASX: COE)
The Cooper Energy share price is up 5% to 14.2 cents. This follows the release of the energy company's fourth-quarter update. Cooper Energy revealed that it achieved production of 0.87MMboe for the three months, which was flat quarter on quarter. This underpinned record annual production of 3.56MMboe.
Medibank Private Ltd (ASX: MPL)
The Medibank share price is up 2% to $3.54. This is despite there being no news out of the private health insurer on Tuesday. However, it is worth noting that last week, analysts at UBS retained their buy rating and $4.20 price target on the company's shares. This implies a potential upside of ~18% over the next 12 months.
National Australia Bank Ltd (ASX: NAB)
The NAB share price is 2% to $27.72. Investors have been buying NAB's shares despite there being no news out of it. However, NAB isn't the only big four bank rising on Tuesday. In fact, all four banks are up over 1% despite the market weakness.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren share price is up 2.5% to $13.69. This morning, analysts at Bell Potter retained their buy rating on this pharmaceutical company's shares with an improved price target of $17.00. Bell Potter notes that the Daybue launch in the US appears to have been stronger than expectations. It said: "The DAYBUE metrics exceeded our initial sales trajectory expectations with US$21m-$23m in Q2 and guidance for US$45-$55m in Q3."
