The S&P/ASX 200 Index (ASX: XJO) is edging higher on Thursday. At the time of writing, the benchmark index is up slightly to 8,354.8 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is up 8% to $1.31. This may have been driven by a broker note out of Ord Minnett this morning. According to the note, the broker has reaffirmed its buy rating with an improved price target of $1.80. This follows a site visit to the Perth Basin, which the broker believes shows that execution risks at the Waitsia project have reduced significantly.

IPH Ltd (ASX: IPH)

The IPH share price is up 4% to $4.91. This morning, this intellectual property services company announced that it is starting its on-market share buyback program today. In addition, it revealed that it has increased its buyback from up to $40 million to up to $75 million. The IPH board advised that it "believes the buy-back will be an efficient use of capital and is consistent with the Company's focus on ensuring an effective mix of continued investment in the business to support earnings growth while returning excess cash to shareholders."

Liontown Resources Ltd (ASX: LTR)

The Liontown share price is up 3% to 61.7 cents. This may have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has reaffirmed its speculative buy rating and lofty $1.40 price target on the lithium miner's shares. Bell Potter believes that a lithium market deficit isn't far away. It said: "On our supply-demand modelling, the [industry production] cuts result in a smaller market surplus in 2025 and brings forward our estimate of a market deficit to 2026 (previously 2027)."

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price is up almost 3% to $253.82. A broker note may have been responsible for this gain as well. According to a note out of Goldman Sachs, its analysts have retained their buy rating on the health imaging technology company's shares with an improved price target of $278.00. Goldman commented: "We remain positive on the PME equity story as one of Australia's best global growth companies, highlighted once again through Trinity Health, driving FY27E EBITDA revisions of +8% (GSe +5% vs. Visible Alpha Consensus Data). We forecast a strong increase in the value and cadence of contract wins over time; however, outsized contracts (i.e. >A$100mn), where visibility is limited in terms of size and timing, could provide material upside."