Why AMP, Kogan, Lovisa, and Webjet shares are pushing higher

Investors have been bidding these shares higher on Thursday.

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A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the day in the red. At the time of writing, the benchmark index is down 0.4% to 7,046 points.

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

AMP Ltd (ASX: AMP)

The AMP share price is up 6% to 90 cents. Investors have been buying this financial services company's shares after it announced the settlement of a class action. The proceedings challenged the validity of some of the changes made by AMP Financial Planning to its Buyer of Last Resort (BOLR) policy in 2019. AMP is paying $100 million to settle.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is up 3% to $4.75. This follows the release of the online retailer's annual general meeting update. That update revealed that Kogan returned to year-on-year growth for gross sales during October. This is the first instance of year-on-year growth in monthly sales since January 2022.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is up 2% to $18.64. This morning, analysts at Morgan Stanley responded to the retailer's trading update by retaining their overweight rating and $25.25 price target. This implies a potential upside of 35% for investors over the next 12 months.

Webjet Limited (ASX: WEB)

The Webjet share price is up 3% to $6.86. Investors have been buying this online travel booking company's shares after brokers responded positively to its half-year results. For example, Macquarie has retained its outperform rating and lifted its price target to $8.37. This suggests an upside of 22% for investors over the next 12 months.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Lovisa. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Kogan.com, Lovisa, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Kogan.com and Lovisa. 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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