In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.2% to 8,074.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
$Appen Ltd (APX.AU)$
The Appen share price is up 5% to $1.05. This is despite there being no news out of the artificial intelligence data services company. However, it is worth noting that Appen's shares were sold off last week. This could mean that some investors believe they have been oversold and a buying opportunity has been created. The Appen share price remains down 20% since this time last week.
$Cettire Ltd (CTT.AU)$
The Cettire share price is up 21% to $1.27. This morning, analysts at Bell Potter urged investors with a high tolerance for risk to buy this luxury products retailer's shares. According to the note, the broker has retained its speculative buy rating with a $2.00 price target. This still implies potential upside of almost 60% over the next 12 months even after today's gains. It said: "We continue to see plenty of upside in revenue/earnings from 3Q25 onwards considering overall improving demand conditions and benefits in CTT's lean business model, however with a higher near term risk profile priced into the name at current levels. Given the uncertainties ahead as the company resolves audit issues, we rate the stock as Speculative Buy."
$Droneshield Ltd (DRO.AU)$
The DroneShield share price is up 8% to $1.43. This counter drone technology company's shares have been on fire in recent sessions. This followed the release of a bullish broker note out of Bell Potter last week. It said: "We remain confident the company will deliver a significantly improved 2H performance based on 1) the significant level of inventory on hand to facilitate rapid fulfilment, 2) the historical seasonality of the business with >80% of CY23 revenue recorded in the 2H and 3) numerous near-term sales opportunities, including recently announced military aid packages." However, its price target of $1.35 has now been surpassed.
$Imugene Ltd (IMU.AU)$
The Imugene share price is up 11% to 6.9 cents. Investors have been buying this clinical stage immuno-oncology company's shares after it announced promising results from a trial. The 1b clinical trial was testing Imugene's azer-cel (an allogeneic off-the-shelf CD19 CAR T) in patients with relapsed/refractory diffuse large B cell lymphoma (DLBCL). It is a type of non-Hodgkin's lymphoma (NHL).
