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JPMorgan Newsroom
HSBC: Upgraded china res power rating to "shareholding", believing it has good value.
JPMorgan released a research report stating that it believes due to the strong growth in electricity consumption in China, electricity prices will only decrease at a modest pace. It believes that China Resources Power (00836) has good value and has raised its stocks to a "shareholding" rating. The report states that the company has underperformed the index by over 35% since early July, possibly due to concerns about next year's electricity price cuts and capital worries, as well as underperformance in the same industry. JPMorgan believes that market concerns about reduced electricity prices may be exaggerated, even if assuming significant electricity price cuts in the next two years, the current yield of Resources Power is about 7%, still a buying opportunity.
J.P. Morgan: Maintains a "shareholding" rating for hsbc holdings, with the target price raised to 90 Hong Kong dollars.
JPMorgan released a research report stating an upward adjustment to HSBC Holdings (00005) earnings per share forecast for the fiscal years 2025 and 2026 by 5% and 6% respectively, and also raised the target price by 5% to 90 Hong Kong dollars, maintaining a 'shareholding' rating. HSBC Holdings is one of the preferred stocks because in the next 12 months, the dividend and share buyback yield of the stock is expected to reach 12%, the highest level among the banks covered by the firm, providing stability in strong shareholder returns. On the other hand, according to the bank's analysis, the quality of local commercial real estate assets in Hong Kong and the rise in tax rates are at a manageable level of risk.
Citigroup Adjusts JPMorgan Chase & Co.'s Price Target to $250 From $215, Keeps Neutral Rating
The central parity rate of the Renminbi against the US dollar is reported at 7.1911 yuan, down 4 basis points.
On November 19, the central parity rate of the yuan against the dollar was reported at 7.1911 yuan, down 4 points. Nomura expects that the Federal Reserve will pause interest rate cuts in December and will only lower rates twice next year. Nomura Securities analysts recently stated that they expect the Fed to pause interest rate cuts at the policy meeting in December, making it the first global brokerage to suggest a pause in rate cuts following Trump's election win. Nomura currently predicts that next year, the Fed will only cut rates twice more, in March and June, by 25 basis points each time. The brokerage maintains its forecast for the federal funds rate before next year at 4.125%.
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The Cleveland Fed model shows that rent inflation is expected to persist until 2026, exacerbating the difficulty of interest rate cuts.
Federal Reserve Chairman Jerome Powell said last week that central bank officials are closely monitoring the "not yet fully normalized" residential price inflation. However, they may have to wait for more than a year. According to research from the Federal Reserve Bank of Cleveland, it may take until mid-2026 for rental inflation in the Consumer Price Index (CPI) to return to pre-pandemic levels. Researchers noted that while multiple indicators suggest that new rents are declining, the reduced number of people moving and signing new leases means that the CPI sample does not reflect the full picture. Housing is the largest category in the CPI, contributing to half of the October CPI increase.
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Elon Musk Says AI Will Surpass Doctors, Lawyers After ChatGPT Tops Medical Diagnoses — Humans Becoming 'Biological' Backups
The AI heatwave is at least a $1 trillion feast, allowing Wall Street major banks and private capital giants to put aside their differences over a cup of wine.
At a dinner hosted by some senior bankers at Morgan Stanley last month, a hot topic was the wealth earned through the frenzy of artificial intelligence (AI). The table also had many titans in the private equity circle. Apollo Global Management Inc., Ares Management Corp., Blackstone, HPS Investment Partners, KKR, and Oaktree Capital were all invited to attend; these companies have long dominated and been profitable in the corporate finance sector on Wall Street.
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Jpmorgan (JPM.US) has seen its market share grow over the past decade, and has received an upgrade in its credit rating from S&P.
s&p global ratings agency has upgraded jpmorgan's long-term issuer credit rating to A.