In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is rebounding from yesterday's decline. At the time of writing, the benchmark index is up 0.3% to 8,590.4 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
AUB Group Ltd (ASX: AUB)
The AUB Group share price is up almost 2.5% to $31.35. Investors have been buying this insurance broker's shares after a sharp pullback on Monday following the collapse of takeover talks. This morning, Ord Minnett put a buy rating and $35.71 price target on the company's shares. It feels its shares offer a favourable risk/reward at current levels.
Titomic Ltd (ASX: TTT)
The Titomic share price is up 15% to 23 cents. This follows the release of an announcement from the cold spray additive manufacturing company this morning. Titomic revealed that it has successfully completed a hot fire test on a solid rocket motor thrust chamber produced for a major U.S. aerospace and defence customer. Titomic's CEO, Jim Simpson, said: "This successful test validates the strength and performance of Titomic's technology in one of the most challenging environments imaginable. It represents not only a technical achievement but further affirms cold spray as a critical additive manufacturing capability for advanced aerospace and defense solutions. Titomic delivered the components to its customer within weeks of receiving the order, demonstrating our ability to rapidly deliver – from prototype to production – critical missile components which today has significant lead times.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price is up 2% to $5.90. This morning, Morgan Stanley responded to the wine company's US update by retaining its equal weight rating and $6.45 price target. This implies potential upside of 12% from current levels. Elsewhere, Morgans has put a hold rating and $6.10 price target on its shares.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside Energy share price is up over 1% to $25.46. This has been driven by a decent rise in oil prices overnight amid supply concerns following an attack on a Black Sea terminal. The WTI crude oil price was up 1.35% to US$59.33 a barrel and the Brent crude oil price was up 1.3% to US$63.20 a barrel. It isn't just Woodside that is rising today on the news. The S&P/ASX 200 Energy index is up almost 1.5% at the time of writing.
