Why A2 Milk, Graincorp, Nexgen, and Spartan Resources shares are rising

These ASX shares are ending the week on a positive note.

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The S&P/ASX 200 Index (ASX: XJO) is having a subdued finish to the week. In afternoon trade, the benchmark index is down 0.1% to 7,052.6 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 5% to $4. This appears to have been driven by a broker note out of Citi this morning. Its analysts have responded positively to the infant formula company's annual general meeting and have upgraded its shares to a buy rating with a $4.81 price target.

Graincorp Ltd (ASX: GNC)

The Graincorp share price is up 4.5% to $7.88. This morning, analysts at Bell Potter retained their buy rating on this grain exporter's shares with an improved price target of $9.55. This implies a potential upside of over 20% for investors over the next 12 months.

Nexgen Energy (ASX: NXG)

The Nexgen Energy share price is up 6% to $10.10. This may have been driven by the uranium developer being named as one of the picks from the Sohn Australia investment conference. Jeremy Bond from Terra Capital picked the Canadian company.

Spartan Resources Ltd (ASX: SPR)

The Spartan Resources share price is up 8% to 42 cents. This morning, the ASX gold developer announced that it has received firm commitments from leading domestic and international resource investors to raise $25 million through an institutional placement. Unlike most capital raisings, these funds were raised at a premium of 40 cents per new share. Proceeds will be used to underpin an expanded exploration campaign at Dalgaranga in 2024.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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