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Morgan Stanley: Holcim's China Operations to Put Damper on Q2 Results
DBS: Reiterates bullish outlook on oil tanker shipping stocks, with target price of HKD 11.1 for Cosco Ship Engy.
Morgan Stanley released a research report stating that the short-term stock price adjustment caused by seasonal factors has basically ended and reiterated its bullish outlook on crude oil shipping stocks. It also pointed out that there is potential for an increase in crude oil production in the fourth quarter of this year, which will be a positive catalyst for the fundamentals. It also reiterated its 'shareholding' rating for COSCO Shipping Energy Transportation Co., Ltd. (01138) and raised its target price from HKD 10 to HKD 11.1. The report states that the crude oil tanker market has been less volatile this year than last year due to weak demand. Although the high point of the spot market in the first quarter of this year is lower than the same period last year, the second quarter is historically the off-season, and crude oil tanker freight rates are still far above the industry breakeven level, exhibiting stronger performance compared to traditional boom cycles.
Deutsche Bank: Treating the sell-off of ASMPT as an opportunity to attract market entry, maintaining shareholding with a target price of HK$130.
According to a research report released by Daiwa, they maintain a "shareholding" rating for ASMPT (00522) with a target price of HKD 130. They pointed out that the stock has been sold off to attract entry opportunities, and they expect a seasonal recovery in the fourth quarter. Combining the second-quarter performance and third-quarter guidance, the report lowered the company's earnings per share forecast for this year to the next year by 45%, 33%, and 19%, respectively, to reflect the long-term weakness of the mainstream tool market. The report stated that ASMPT's second-quarter performance was below expectations, and the third-quarter revenue guidance was to fall by 6.4% quarterly, which was 17% and 20% lower than the bank's and the market's expectations, respectively. The bank previously expected the mainstream market to recover mildly.
Morgan Stanley Capital Partners Completes Acquisition of American Restoration
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