Express News | Goldman Sachs : RBC Raises Target Price to $610 From $558

Reuters02:17 ET

Goldman Sachs: Maintains TUHU-W "Buy" rating, with the Target Price raised to HKD 24.5.

Goldman Sachs released a research report stating that it maintains a "Buy" rating for TUHU-W (09690), with the Target Price raised by 8.8% from HKD 22.5 to HKD 24.5. The bank expects that TUHU, as China's largest integrated online and offline Car Service platform, will enjoy sustained operational leverage and efficiency improvements, thereby reducing operating expense ratios. Coupled with an improvement in gross margin, this is expected to lead to years of operational profit expansion, with a projected compound annual growth rate of net profit of 35% from 2023 to 2026. Goldman Sachs believes that TUHU is the largest independent Automotive Aftermarket (IAM) supplier in China, leveraging its lower and more transparent pricing and revenue-generating capabilities.

Sina Hong Kong stocks23:36 ET

Regulations on Cryptos in the USA are expected to loosen, but major Wall Street banks remain cautious.

Despite the expectation of regulatory loosening, Bank of America bankers remain cautious about Cryptos.

Zhitong Finance22:57 ET

Trump is reportedly set to ring the bell at the NYSE today. What does it signify?

① According to media reports, the USA's incoming president Trump will go to the NYSE on Thursday to ring the opening bell and deliver a speech; ② There are reports that Trump will be named Time Magazine's Person of the Year for 2024, but this has not yet been confirmed by Time; ③ Since Trump's announcement of victory, the three major US stock indices have risen repeatedly, with the market encouraged by promises of tax cuts and deregulation.

cls.cn20:40 ET

The central parity rate of the RMB against the US dollar is reported at 7.1854, down by 11 points.

On December 12, the middle exchange rate of the RMB against the USD was reported at 7.1854, down 11 points. The CPI in the USA for November recorded the largest increase in seven months, but it is unlikely to prevent the Federal Reserve from lowering interest rates next week. The consumer price index in the USA for November recorded the largest increase in seven months, but against the backdrop of a cooling job market, this is unlikely to prevent the Federal Reserve from lowering rates for the third time next week. Data shows that last month the CPI increased by 0.3% month-on-month, the largest increase since April, following a continuous increase of 0.2% over the previous four months. The year-on-year CPI growth rate increased to 2.7% after rising to 2.6% in October.

Market News20:17 ET

The CEO of Bank of America stated that sales and Trade business in the fourth quarter is expected to reach a new high, with Investment Banking business revenue surging.

Bank of America CEO Brian Moynihan said that the quarterly revenue trend of the bank's investment banking business will increase by at least 25% year over year, while sales and trading business are expected to reach new highs. Moynihan said at the Goldman Sachs Financial Services conference on Wednesday that investment banking revenue for the fourth quarter could exceed $1.4 billion as deals “continue to grow.” Analysts had predicted that the investment banking revenue of the second-largest bank in the US would be close to 1.5 billion US dollars, which is equivalent to an increase of about 27%. Meanwhile, Moynihan said the sales and trading business should once again record year-on-year growth, now

Global market broadcast16:09 ET