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Goldman Sachs: Affected by Trump's tariffs, the Western Canadian Select crude oil (WCS) may fall below $40.
According to a report by Goldman Sachs, if the US President-elect Donald Trump imposes a 25% tariff on all products in the country, the price of Western Canadian Select crude oil (WCS) could drop to below $40 per barrel by 2026. The General Index indicates that Western Canadian Select crude oil (WCS) was above $55 per barrel on Monday. Analysts, including Yulia Grigsby, wrote in the report that Goldman Sachs expects a widespread 10% tariff on oil, which will negatively impact the prices of US crude oil and RBOB gasoline due to a decrease in demand.
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jpmorgan's trading team expects the s&p 500 index to approach 6300 points by the end of the year.
According to traders at JPMorgan, the S&P 500 index still has further room to climb before the end of the year, even after the strongest wave of gains since the early days of the internet bubble. The derivatives analyst at the bank said that the most popular options trading bets are on the US stock benchmark reaching 6200 to 6300 points this month. Based on the closing level of around 6032 points last Friday, this means it could rise another 3%-4% by year-end. "A positive macro environment, earnings growth, and the continued support from the Federal Reserve are the factors that keep us tactically bullish until the end of the year," said Andrew from global market research.
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Goldman Sachs: Maintains a "Neutral" rating on China Tower, with the target price slightly raised to HKD 1.16.
Goldman Sachs released a research report stating that it maintains a 'neutral' rating on China Tower (00788), predicting that the slowdown in revenue growth next year will not affect future profit performance, forecasting that cost reduction can support a growth pace of over 10% for net profit. The target price has been slightly raised from 1.15 Hong Kong dollars to 1.16 Hong Kong dollars. The bank predicts that the company's revenue in 2025 will increase by 4% year-on-year, net profit will increase by about 12%, dividend per share will increase by 15% to 4.9 Chinese cents, and the dividend payout ratio will increase to about 79%. Although the extension of receivables may bring challenges, the cash flow and profit prospects of China Tower are stable, and it is believed that dividends can still be increased in the coming years.
Goldman Sachs: Maintains "buy" rating for Meituan-W with a target price of 212 Hong Kong dollars.
Goldman Sachs released a research report stating that Meituan-W (03690) had solid performance in the third quarter, with revenue increasing by 22% year-on-year, leading to a 196% year-on-year growth in EBIT. The adjusted EBIT for its core local business was 14.6 billion yuan, above the bank and market expectations of 13.6 billion to 13.9 billion yuan. The bank maintains a 'buy' rating for Meituan with a target price of 212 Hong Kong dollars, focusing on merchant support measures and Keeta investment among other factors. The bank noted that Meituan's delivery order volume showed solid year-on-year growth in the third quarter.
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