The S&P/ASX 200 Index (ASX: XJO) is starting the week strongly. In afternoon trade, the benchmark index is up 0.5% to 8,161.7 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Austal Ltd (ASX: ASB)
The Austal share price is up 2.5% to $3.24. Investors have been buying this shipbuilder's shares after it released its guidance for FY 2025 after the market close on Friday. Austal revealed that it expects FY 2025 EBIT of $80 million, which is in line with the consensus estimates. Citi was pleased with the guidance, noting that it is an improvement on previous outlook statements. It also suspects that Austal could outperform this thanks to a major submarine contract. In response, the broker has reaffirmed its buy rating and $4.14 price target on the company's shares.
Breville Group Ltd (ASX: BRG)
The Breville share price is up 2.5% to $31.88. This is despite there being the no news out of the appliance manufacturer on Monday. However, it is worth noting that Breville will be holding its annual general meeting later this week. It's possible that some investors are expecting a strong trading update at the event. In other news, Citi put a neutral rating and $36.51 price target on its shares. This implies potential upside of almost 15% for investors over the next 12 months.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix Pharmaceuticals share price is up over 3% to $22.16. This morning, this radiopharmaceuticals company received some positive news out of the United States. The Centers for Medicare & Medicaid Services (CMS) will soon pay separately for specialised diagnostic radiopharmaceuticals for Medicare Fee for Service patients in the hospital outpatient setting, beyond the transitional pass-through payment period. Management described this as a "significant decision" for patients and hospitals, noting that the change facilitates equitable access to advanced imaging agents for all patients into the future.
Westgold Resources Ltd (ASX: WGX)
The Westgold Resources share price is up 2.5% to $3.18. This follows the release of an exploration update from the gold miner on Monday. This relates to development drilling at its Bluebird-South Junction mining complex in Meekatharra, Western Australia. Westgold's CEO, Wayne Bramwell, commented: "The Bluebird-South Junction mine is rapidly becoming the key growth driver of Westgold's Murchison portfolio. Our team is mining the Bluebird and South Junction Lodes now and with intercepts like 13.71m @ 18.02g/t Au from the Polar Star Lode we see a third mining opportunity rapidly emerging."
