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Bank of America Securities: Upgraded China Oilfield Services rating to 'Neutral', target price lowered to 8.8 Hong Kong dollars.
Bank of America Securities released a research report stating that it has raised china oilfield's investment rating from "underperform" to "neutral", pointing out that its current price valuation is low. The H-share price corresponds to a forecasted PE ratio of 0.6 times in 2024, far below the historical average of 0.8 times. Concerns about idle drilling rigs have been partially alleviated, but significant fluctuations in international oil prices may have some impact. Therefore, after considering the performance in the first half of the year, Bank of America has lowered its profit forecast for china oilfield from 2024 to 2026 by 3% to 7%, and the target price has been lowered from HKD 9.3 to HKD 8.8.
Bank of America Securities: Reiterated a "buy" rating on sh pharma, with the target price lowered to 13.7 Hong Kong dollars.
Bank of America Merrill Lynch released a research report stating that Shanghai Pharmaceuticals (02607) has maintained stable performance in the pharmaceutical service business in the second quarter. However, due to pressure from the distribution business, its revenue forecast for the fiscal years 2024 to 2026 has been lowered by 8%, 12%, and 14%, respectively. The earnings forecast per share has also been lowered to RMB 1.13, RMB 1.22, and RMB 1.33, respectively. The target price for H shares has correspondingly decreased from HKD 13.9 to HKD 13.7. Considering the continuous improvement in Shanghai Pharmaceuticals' operational efficiency, the bank has lowered its sales expense forecast for fiscal year 2024 and beyond. Taking into account these factors and Shanghai Pharmaceuticals' leading position in the industry, the bank reiterates its "buy" recommendation.
I can only shake my head at my shortsightedness back then. 
scott l branstetter : nvda going to the moon
Douglas Ehrhard : I hope so
Drew Manns scott l branstetter : $NVIDIA (NVDA.US)$ they beat all way around. delay in blackwell was intentional due to high demand for H1. They are raising gudeance. (#imsider)