The S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up slightly to 7,680.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Baby Bunting Group Ltd (ASX: BBN)
The Baby Bunting share price is up 12% to $2.03. This follows the release of a broker note out of Morgan Stanley this morning. According to the note, the broker has upgraded the baby products retailer's shares to an overweight rating and lifted the price target on them to $2.20 (from $1.65). Morgan Stanley believes that its shares are deserving of a re-rating due to its improving outlook. The broker also expects a 3% dividend yield in FY 2024 and a 4.5% yield in FY 2025.
Bellevue Gold Ltd (ASX: BGL)
The Bellevue Gold share price is up 5.5% to $1.81. This morning, the gold developer revealed that recent infill drilling at Deacon Main has delineated a major high-grade ore shoot in the near-mine schedule. Bellevue Gold's managing director, Darren Stralow, was pleased with the drilling. He said: "These results replicate what the Bellevue Mine was historically known for: very high-grade gold contained in short strike structures. With infill results significantly out-performing the Resource estimate in the area, this high-grade ore will supplement the early mine plan and ensure that we continue to see strong grade and solid production results as we ramp up to full-scale production."
Cettire Ltd (ASX: CTT)
The Cettire share price is up 3% to $4.28. This follows news that the online luxury products retailer has responded to recent media and customer criticism by making changes to its website. In the USA and Australia, its checkout flow has been updated so that customers see all-inclusive pricing at the checkout. And to simplify the overall customer experience, estimated duties will no longer be itemised. Cettire has also decided to update its returns policy for USA customers. It will now charge a US$25 return fee and a processing fee of US$50 per returned item applicable to orders greater than US$800.
New Hope Corporation Ltd (ASX: NHC)
The New Hope share price is up 3% to $4.57. This follows the release of the coal miner's half-year results on Tuesday. Due to significantly weaker coal prices, for the six months ended 31 January, New Hope reported a 45.9% decline in revenue to $856.6 million and a 59% reduction in EBITDA to $424.8 million. This led to the miner cutting its interim dividend by 57% to 17 cents per share. But as weak as this looks on paper, it appears to have been slightly better than the market was expecting.
