In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.35% to 7,997.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
The A2 Milk share price is up 2.5% to $8.09. This may have been driven by a broker note out of Citi this morning. According to the note, the broker has reaffirmed its buy rating and $8.20 price target on the infant formula company's shares. The broker highlights that one of A2 Milk's peers in the China market has released a positive update. It believes the update bodes well for the company and particularly the prospects of its new Genesis product range.
The Orthocell share price is up 4% to $1.54. Investors have been buying this regenerative medicine company's shares this week after it announced the first sales of Striate+ in Germany, Austria and Switzerland. Orthocell's Striate+ is the company's dental guided bone and tissue regeneration product. Management estimates that the global market opportunity for Striate+ is approximately >US$730 million. It notes that the EU and UK markets contribute approximately US$180 million to this. Orthocell is targeting a 20% share of the global market.
The QBE share price is up 2.5% to $22.65. This morning, Morgan Stanley retained its overweight rating on this insurance giant's shares with an improved price target of $25.05. The broker is feeling positive about the company's outlook and the insurance industry as a whole. Morgan Stanley also highlights that QBE stands to benefit from increasing demand for cyber insurance with its QCyberProtect offering. The broker's price target implies potential upside of almost 11% for investors over the next 12 months.
The Ramelius Resources share price is up 6.5% to $2.46. Investors have been buying Ramelius and other ASX gold stocks on Friday following a strong rise in the gold price overnight. The precious metal hit a new record high overnight after US tariffs sparked trade tensions. The spot gold price is currently fetching US$3,082.80, which is up 0.8%. The S&P/ASX All Ordinaries Gold index is up by a sizeable 3.4% at the time of writing.
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