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Hedge Fund Giant Bridgewater Made a New Bet on Tesla. They May Have Gotten a Bargain.
Goldman Sachs: Downgraded HUA HONG SEMI rating to 'Neutral' and lowered Target Price to 31 HKD.
Goldman Sachs has released a research report stating that based on last year's performance, the rating for HUA HONG SEMI (01347) has been downgraded to "Neutral", and the target price has been lowered to 31 Hong Kong dollars. The earnings per share forecasts for 2025 to 2029 have been reduced by 1%, 1%, 3%, 3%, and 3%. Considering that the company's management has revealed that the second 12-inch wafer factory is expected to begin mass production in 2025, and that the company's capacity utilization for the fourth quarter of 2024 is already close to 100%, the capacity expansion plan is expected to support the company's long-term growth. However, in the short term, the company's performance will still be affected by price pressure on China's mature process nodes and the newly built factories starting production this year.
Goldman Sachs: Maintain TENCENT's 'Buy' rating with a Target Price of 534 HKD.
Goldman Sachs released a Research Report stating that it maintains a "Buy" rating on TENCENT (00700) with a Target Price of 534 Hong Kong dollars. Goldman Sachs stated that the company continues to integrate DeepSeek, showcasing AI open strategy as a growth multiplier. Recently, WeChat Search conducted a grayscale test to access DeepSeek, and selected users can use the DeepSeek-R1 full version model for free. The firm believes that benefiting from the E-Commerce infrastructure for small stores, the mini-program ecosystem, and WeChat Pay features, TENCENT is a major beneficiary of AI applications.
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The central parity rate of the Chinese yuan against the US dollar is reported at 7.1702, an increase of 4 points.
On February 17, the central parity rate of the RMB against the US dollar was reported at 7.1702, up 4 points. The probability that the Federal Reserve will maintain interest rates in March is 97% according to CME's "Fed Watch": the probability of keeping rates unchanged in March is 97%, and the probability of a 25 basis points rate cut is 3%. The probability of maintaining the current rate until May is 81%, with a cumulative probability of a 25 basis points cut at 18.5% and a cumulative probability of a 50 basis points cut at 0.5%. Goldman Sachs predicts that the Federal Reserve will cut rates by 25 basis points twice in June and December this year.
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