Unveiling the Surge of AMP, KGN, LOV and WEB Shares: 4 ASX Shares Defying the Market Downturn

November 23, 2023 04:47 PM AEDT | By Team Kalkine Media

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Unveiling the Surge of AMP, KGN, LOV and WEB Shares: 4 ASX Shares Defying the Market Downturn

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The S&P/ASX 200 Index, indicating a downward trend is heading towards ending the day in negative territory, down by 0.4% to 7,046 points. Amidst this decline, several ASX shares are experiencing notable increases, bucking the overall trend.

The current article highlights the declining performance of the S&P/ASX 200 Index and emphasizes the exceptional rise in specific ASX-listed shares despite the market's overall downturn.

AMP Ltd (ASX:AMP) Share Price Surge

AMP's share price surged by 6% to 90 cents as investors responded positively to the announcement of settling a class action that challenged AMP Financial Planning's 2019 Buyer of Last Resort (BOLR) policy changes, resulting in a $100 million settlement.

Kogan.com Ltd (ASX:KGN) Rising Share Price

Kogan's share price increased by 3% to AU$4.75 following the company's annual general meeting update, which showcased a return to year-on-year growth in gross sales during October, marking the first monthly sales growth since January 2022.

Lovisa Holdings Ltd (ASX:LOV) Share Price Uptick

Lovisa's share price witnessed a 2% uptick to AU$18.64 after analysts at Morgan Stanley responded to the retailer's trading update by maintaining their overweight rating and $25.25 price target, indicating a potential 35% upside for investors in the next 12 months.

Webjet Limited (ASX:WEB) Share Price Surge

Webjet experienced a 3% surge in its share price to AU$6.86 as investors reacted positively to the company's half-year results. Brokers, including Macquarie, retained an outperform rating and raised the price target to $8.37, suggesting a potential 22% upside for investors in the next 12 months.

Conclusion

Despite the S&P/ASX 200 Index's downward trajectory, AMP, Kogan.com, Lovisa Holdings, and Webjet Limited displayed noteworthy share price surges due to specific developments and positive responses from analysts and investors.

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