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Credit Suisse: giving fuyao glass a "synchronized with the market" rating, and raising the target price to HK $40.
According to the research report released by Daiwa, Fuyao Glass (03606) is rated 'in sync with the market' considering its better-than-expected performance in Q2 of this year and the strong gross margin outlook brought by its favorable product mix. Its profit forecast for fiscal years 2024 to 2026 has been raised by 3% to 6%, and its target price has been slightly raised from HKD 39 to HKD 40. As the leader in the mainland auto glass market, Fuyao Glass occupies a market share of 65% to 70%, and is expected to benefit from the trend of higher value-added products in the future. The bank believes that the company should upgrade its product structure and expand globally.
Citi to Sell Trust Business Amid Bank's Turnaround Efforts
Wall Street expects the Fed to end its balance sheet reduction this year, but the possibility of slamming the brakes is low.
The end of Fed balance sheet tightening is in sight, but the actual end date depends on the pace of rate cuts and market financing pressures. Policymakers have hinted that they will complete their shareholdings in US debt before the end of the year, and many on Wall Street believe that quantitative tightening is unlikely to end suddenly. However, recent weak economic data and liquidity pressure risks have cast uncertainty on the outlook. "If the Fed intends to stimulate the economy, it may stop shrinking its balance sheet," Bank of America strategists Mark Cabana and Katie Craig wrote in a report to clients on Wednesday. "If the Fed's goal is to normalize monetary policy, shrinking its balance sheet can continue." Increasingly signs point to
Market Chatter: JPMorgan Chase Hires Morgan Stanley Banker Tegh Kapur
Morgan Stanley Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
DBS Bank: Gives u-presid china a "same as market" rating with a target price of HKD 6.6.
Morgan Stanley released a research report stating that it gives a "synchronized with the market" rating for u-presid china (00220), with a target price of 6.6 Hong Kong dollars. The report stated that the company's first-half performance was roughly in line with expectations. Due to intensified competition in the beverage division, management has become more conservative about the sales growth outlook, with expected growth of 5% to 8%. It was predicted to be 8% to 12% at the beginning of the year. The gross margin is expected to continue to expand in the second half of the year, while instant noodle sales remain stable. The bank pointed out that u-presid china's sales in the first half of the year were 15.4 billion yuan, a year-on-year increase of 6%, which was 2% lower than the bank's expectations. The net profit was 0.966 billion yuan, up 10% year-on-year or.
