Morgan Stanley Slashes Global Oil Demand Growth Forecast For 2024: Report

BenzingaAug 26 07:17 ET

Market Chatter: Intel Retains Morgan Stanley to Fend off Activist Investors

MT NewswiresAug 26 05:51 ET

DBS Bank: Maintains a "shareholding" rating for Topsports, target price lowered to HKD 4.2.

Morgan Stanley has released a research report maintaining a "shareholding" rating on Topsports (06110), believing that the recent stock price fluctuations are an over-adjustment and that the current price valuation is reasonable. The forecasted dividend yield for the next two years has risen to 11%. The target price has been lowered from HKD 7 to HKD 4.2. Due to operational pressure, Morgan Stanley predicts that Topsports' sales for the first half of fiscal year 2025 and the whole year will decline by 8% and 5% respectively, with gross margins expected to contract to 42.7% and 40.6%, lower than pre-pandemic levels, mainly due to the group's discount rate not yet returning to pre-pandemic levels. Considering the downward trend in sales prospects, Morgan Stanley expects the SG&A ratio to increase.

新浪港股Aug 26 05:34 ET

Credit Suisse: Rated Chow Tai Fook as 'in line with the market', target price lowered to HKD 7.7.

Morgan Stanley released a research report stating that it has lowered its profit forecast for Chow Tai Fook (01929) for the fiscal years 2024 to 2026 by 11%, 16%, and 11% respectively, and has also lowered the target price for the group from HK$11 to HK$7.7, with a rating of 'synchronized with the market'. The bank said that considering Chow Tai Fook's net store closure trend in the fourth quarter of fiscal year 2024 and weak same-store sales performance, it has lowered its revenue growth forecast for the fiscal years 2024 to 2026 by 11%, 13%, and 12% respectively. At the same time, it is expected that Chow Tai Fook's profit will remain roughly unchanged, as the rise in gold prices in the first half of 2024 and cost control measures bring bullish effects.

新浪港股Aug 26 05:30 ET

DBS Bank: Maintains a "shareholding" rating for CRRC Corporation, with a target price raised to HKD 6.2.

Deutsche Bank released a research report stating that it maintains a 'shareholding' rating on CRRC Corporation (01766), and the target price has been raised from HKD 5.6 to HKD 6.2. The report mentions that the company's second quarter profit increased by 12% year-on-year, slightly higher than the bank's and market expectations of 5% to 6%. It believes that with the steady growth of trainset delivery and maintenance business, the company's profit growth momentum should continue into the second half of the year. Deutsche Bank said that it has raised its profit forecast for CRRC for the next two years by 1% to 2%, but has reduced its profit forecast for 2026 by 4%, which means that the net profit for each year from 2024 to 2026 will increase by 17.5%, 10.4%, respectively.

新浪港股Aug 26 05:28 ET

Global M&A activity remains sluggish in the second quarter, with the three major Wall Street investment banks leading the M&A market.

According to a recent report by S&P Global Market Intelligence, global merger and acquisition activity is still sluggish in the second quarter of 2024.

Zhitong FinanceAug 26 04:41 ET