The S&P/ASX 200 Index (ASX: XJO) looks set to end its winning streak on Friday. In afternoon trade, the benchmark index is down 0.3% to 7,070.1 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Allkem Ltd (ASX: AKE)
The Allkem share price is up 2% to $11.80. This may have been driven by a broker note out of Goldman Sachs this morning. Its analysts have named the lithium miner as a buy with a price target of $15.20. This implies almost a 30% upside from current levels.
Bega Cheese Ltd (ASX: BGA)
The Bega Cheese share price is up 3% to $2.89. This morning, analysts at Bell Potter upgraded this dairy company's shares to a buy rating with a $3.35 price target. The broker made the move on valuation grounds. It also sees further upside potential if the company delivers on its turnaround plans.
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas share price is up 1.5% to $6.83. A broker note could also be responsible for this gain as well. According to a note out of UBS, its analysts have upgraded the rare earths producer's shares to a buy rating with an $8.00 price target. This was also largely on valuation grounds.
Perpetual Ltd (ASX: PPT)
The Perpetual share price is up 3% to $21.40. This follows the release of the fund manager's first-quarter update this morning. Perpetual revealed that its assets under management were steady at $211.70 billion, with net inflows of $100 million. Perpetual CEO, Rob Adams, said: "Delivering positive net inflows despite the current operating environment, with volatility impacting markets and investor confidence globally, demonstrates the quality and diversity of our broad capability set and our emerging strength in distribution."
