The S&P/ASX 200 Index (ASX: XJO) is having an underwhelming session on Thursday. In afternoon trade, the benchmark index is down 0.2% to 8,516.2 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Clarity Pharmaceuticals Ltd (ASX: CU6)
The Clarity Pharmaceuticals share price is up 4.5% to $2.28. This may have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has reaffirmed its speculative buy rating and $4.90 price target on this radiopharmaceuticals company's shares. This is more than double its current share price. It said: "CU6 has now established a multilayered and abundant supply of 64Cu capable of meeting prospective demand across multiple indications. We maintain our Buy (Spec) recommendation and Valuation $4.90."
Kelsian Group Ltd (ASX: KLS)
The Kelsian Group share price is up 7% to $3.47. This morning, the travel and transport company revealed that Transport for New South Wales is seeking to extend its public bus services contract for the inner west of Sydney. In addition, a note out of UBS this morning reveals that its analysts have retained their buy rating and $4.80 price target on its shares. This implies potential upside of almost 40% for investors over the next 12 months.
Life360 Inc (ASX: 360)
The Life360 share price is up over 1% to $32.41. This appears to have been driven by a bullish broker note out of Morgan Stanley this morning. According to the note, the broker believes that the location technology company's shares can keep climbing. Particularly given its rapidly growing user base and low customer acquisition costs. Morgan Stanley has retained its overweight rating and lifted its price target to $40.00. This suggests that upside of 23% is possible for investors.
Syrah Resources Ltd (ASX: SYR)
The Syrah Resources share price is up 6.5% to 27.7 cents. Investors have been buying this graphite miner's shares following the release of an update on the Balama project. According to the release, the company has officially recommenced natural graphite production at the flagship operation in Mozambique. This follows a period of disruption due to protest activity. Management also spoke positively about its outlook. It said: "There is significant and growing latent demand for Syrah's natural graphite products, particularly in the ex-China market, due to global supply disruptions, including those from Balama."
