The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and is pushing higher again on Thursday. In afternoon trade, the benchmark index is up 0.3% to 8,631.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Catapult Sports Ltd (ASX: CAT)
The Catapult Sports share price is up 5.5% to $5.35. This appears to have been driven by the release of a broker note out of Morgans this morning. According to the note, the broker has initiated coverage on the sports performance technology company's shares with a buy rating and $6.25 price target. It said: "We forecast strong topline growth for CAT, estimating a ~20% ACV 3-year CAGR, reaching ~US$180m by FY28. A scalable platform and strong SaaS metrics should see CAT join the 'Rule of 40' club by FY27. We initiate coverage on Catapult Sports (CAT) with a Buy recommendation and a A$6.25 per share price target."
Kingsgate Consolidated Ltd (ASX: KCN)
The Kingsgate Consolidated share price is up 2.5% to $4.22. This morning, this gold miner revealed that it has mutually agreed to terminate arbitration proceedings with the Thai government that were commenced in November 2017. Kingsgate's CEO, Jamie Gibson, said: "This is a historic moment for Kingsgate's investment in the Chatree Mine. I look forward to an era of renewed cooperation with the Thai Government. I believe that the continuance of operations at the Chatree Mine will deliver significant benefits to Kingsgate and its shareholders as well as to the people of Thailand. More generally, I think this development is a strong and positive signal that Thailand is open for business."
Light & Wonder Inc. (ASX: LNW)
The Light & Wonder share price is up 5.5% to $151.55. This may have been driven by a broker note out of UBS. This morning, the broker reaffirmed its buy rating and $206.00 price target on the gaming technology company's shares. It highlights that industry data shows that gaming revenues in the US increased strongly in October.
Reece Ltd (ASX: REH)
The Reece share price is up 4% to $12.75. This morning, this plumbing parts company announced a new $35 million on-market share buyback. The company's chair and CEO, Peter Wilson, said: "We have a well-defined capital allocation framework and continue to take a long-term approach to shareholder value creation. We remain committed to maintaining a strong balance sheet with a conservative leverage ratio to fund future growth."
