In afternoon trade, the $S&P/ASX 200 (.XJO.AU)$ is on course to end its winning streak with a small decline. At the time of writing, the benchmark index is down 0.1% to 8,016.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising today:
$Bank of Queensland Ltd (BOQ.AU)$
The Bank of Queensland share price is up 3% to $6.13. This morning, analysts at Morgans responded positively to news that the bank is restructuring its retail operations. The broker sees positives from the restructure and has upgraded its earnings per share estimates to reflect this. As a result, it has upgraded the regional bank's shares to a hold rating with an improved price target of $6.18.
$Fisher & Paykel Healthcare Corp Ltd (FPH.AU)$
The Fisher & Paykel Healthcare share price is up 11% to $32.58. Investors have been buying the medical device company's shares following the release of a guidance update this morning. Fisher & Paykel Healthcare is now expecting its revenue to be between NZ$940 million and NZ$950 million for the first half of FY 2015. The mid-point of this range will be an 18% increase over the prior corresponding period. Management expects this to lead to net profit coming in 44% higher at NZ$150 million to NZ$160 million. It notes that "the year to date has begun strongly across all products and regions."
$Mayne Pharma Group Ltd (MYX.AU)$
The Mayne Pharma share price is up almost 10% to $4.32. This follows the release of the pharmaceutical company's full year results. Investors appear impressed with the company's significantly improved performance. Mayne Pharma reported revenue up 112% on the prior corresponding period to $388.4 million and gross profit up 162% to $218.8 million. CEO Shawn Patrick O'Brien said "Mayne Pharma has delivered a significant improvement in Group performance, achieving all five key operating metrics including a positive direct contribution from all three business segments and a positive underlying EBITDA in FY24."
$Medibank Private Ltd (MPL.AU)$
The Medibank Private share price is up 3% to $3.94. This may have been driven by a broker note out of UBS this morning. In response to the private health insurer's FY 2024 results, the broker has retained its buy rating with an improved price target of $4.30. UBS was pleased with the results and its claims guidance for the year ahead. In light of this, it continues to see plenty of value in its shares at current levels.
