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DBS Vickers maintains a "market perform" rating for SD Gold with a target price of HKD 20.2.
Morgan Stanley released a research report maintaining a "Neutral" rating on SD Gold (01787), despite its strong growth in gold sales in the first half of the year resulting in net income growth accelerating from 59% in Q1 to a hold or decline performance in Q2 when gold prices rose. The performance was somewhat inferior, with target price of HKD 20.2. The report stated that the company's profit expectation would reach RMB 1.25 billion to 1.45 billion yuan in the first half of this year, with a year-on-year growth ranging from 42.1% to 64.8%, and the core net income after excluding one-time effects will increase by 45% to 68% year-on-year.
JPMorgan, Citi Kick Off Big Bank Reporting Season As Expectations Remain Muted Amid Economic Headwinds: Q2 Earnings Preview
The second-quarter reporting season kicks off in earnest with earnings reports from the biggest banks, and it remains to be seen if these companies set a positive tempo and reignite the buying
Credit Suisse: Maintain "shareholding" rating for MTR Corporation, target price is 30 Hong Kong dollars.
Morgan Stanley released a research report stating that they have positive expectations for MTR Corporation's (00066) first-half performance, and expect stable earnings growth and dividend payouts to allow MTR to outperform most local developers. They also pointed out that its valuation is attractive, and gave it a "shareholding" rating with a target price of HKD 30. The bank predicts that the company's first-half basic profit will increase by 20% year-on-year to reach HKD 3.8 billion, and that the expected growth in recurring business profit will increase by 18% to HKD 2.9 billion. The interim dividend is expected to remain unchanged at HKD 0.42 per share. MTR is expected to complete four property development projects involving 4,500 residential units in the latter half of this year. Morgan Stanley says,
Express News | Eaton Vance Municipal Bond Fund Announces Final Results of Tender Offer
Big Banks Q2 Earnings Expected to Show Rebounding IB, Soft Loan Growth
The key to the outlook for whether Wall Street's major banks can continue to outperform the large-cap market during the financial reporting season.
The largest US bank stocks outperformed the large caps this year, as investors expect a brighter future for these banks' earnings prospects over the next few quarters. Led by Citigroup, Goldman Sachs and Bank of America, five of the six largest banks in the US beat the S&P 500 index for stock prices in 2024. So far this year, the overall performance of the six major banks compared to the S&P 500 index has also hit its best level since 2021. As these big banks begin to release their second quarter earnings reports one after another on Friday, investors no longer care about the expected decline in their net interest income. Instead, they are looking forward to these banks announcing their investment banking and other revenue.
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