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Top Gap Ups and Downs on Monday: BABA, PDD, NKE and More
Deutsche Bank: Assigns a "Buy" rating to Geely Autos and raises the Target Price to 20 Hong Kong dollars.
Deutsche Bank released a Research Report stating that it has given Geely Autos (00175) a "Buy" rating, raising the Target Price from 19 Hong Kong dollars to 20 Hong Kong dollars, with Net income forecasts for 2024 and 2025 at 1.7% and 61.3% respectively. Zhejiang Geely recently announced the completion of the Lynk & Co brand restructuring, expected to record 6.47 billion yuan in non-cash gains this year. Deutsche Bank indicated that after completing the Trade, Geely and ZEEKR (ZK.US) hold 49% and 51% stakes in Lynk & Co respectively. Based on Geely's 62.8% stake in ZEEKR, Lynk & Co becomes a non-wholly-owned subsidiary of ZEEKR, as well as a non-wholly-owned subsidiary of Geely listed in Hong Kong.
U.K. Watchdog Fines Banks Over Information Sharing on Government Bonds
France's Agriculture Crediting Banks plans to increase investment bankers' bonuses by 5% to 10%.
According to informed sources, after experiencing a strong performance year, France's Agricultural Credit Banks will likely increase investment bankers' bonuses by 5% to 10%. Sources say that the increase mentioned is an average, with different teams seeing different increases. Anonymously, due to the information not being public, sources stated that the bank has reached a broad agreement on the overall bonus pool size for the Corporate and Investment Banking (CIB) department, but individual bonuses will be notified next week. A spokesperson for the Agricultural Credit Banks declined to comment. This size of increase is positioned in the middle among European investment banks. Its domestic competitor, BNP Paribas,
Deutsche Bank (DB.US) appoints new co-head of investment banking.
On February 18, Deutsche Bank (DB.US) announced that Alison Harding-Jones will succeed Mark Fedorcik (who has worked at Deutsche Bank for 30 years) as co-head of investment banking, global head of Origination & Advisory, and will join the Group Management Committee.
European Banks' CDS Costs Fall to Lowest in More Than a Year -- Market Talk
