The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a small gain. At the time of writing, the benchmark index is up a fraction to 8,773.7 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Iperionx Ltd (ASX: IPX)
The Iperionx share price is up 7% to $7.78. This follows news that the titanium metal and critical materials company has received an additional US$25 million funding obligation from the U.S. Department of War (DoW) through its Industrial Base Analysis and Sustainment (IBAS) program. The company notes that the additional funds will be applied to the scale-up of titanium production and advanced manufacturing capacity at its Titanium Manufacturing Campus. This will enable the output of up to 1,400 metric tons per year. The US$25 million obligation, along with the prior US$12.5 million and US$5 million, takes total obligations to US$42.5 million.
Life360 Inc (ASX: 360)
The Life360 share price is up 3.5% to $52.81. This appears to have been driven by a bullish broker note out of Morgan Stanley this morning. According to the note, the broker has retained its overweight rating on the location technology company's shares with an improved price target of $58.50. It believes the market has yet to price in its opportunity outside the core business. This includes its pet tracking offering.
Liontown Resources Ltd (ASX: LTR)
The Liontown Resources share price is up almost 7% to 96.7 cents. This is despite a number of brokers putting sell ratings on the lithium miner's shares this morning. One of those is Macquarie Group Ltd (ASX: MQG), which responded to the company's FY 2025 results release by reaffirming its underperform rating and 65 cents price target. It said: "The FY25 result was a miss vs. expectations (largely depreciation impacted). We view the cessation of open pit mining (in Dec-25) and progress of the underground ramp-up as key. Retain UP on valuation grounds with 1QFY26 expected to be the weakest quarter for production in FY26."
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan Energy share price is up 16% to $5.80. This morning, the lithium developer announced a major contract with a consortium between Turboden and ROM Technik to develop, procure, and construct the commercial geothermal power plant near Landau Germany. The company notes that this will support the development of the Lionheart project, which will have the capacity to produce 275GWh of power and 24,000 tonnes of lithium hydroxide. This is enough for approximately 500,000 electric vehicles per year.
