Why AUB, Titomic, Treasury Wine, and Woodside shares are rising today
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.
The post Why AUB, Titomic, Treasury Wine, and Woodside shares are rising today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates and Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has recommended Aub Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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