Credit Suisse: Maintains "shareholding" rating on greentown china, target price lowered to 7.05 Hong Kong dollars
Daiwa released a research report stating that it believes greentown china (03900) should be able to maintain sales growth higher than the industry peers, thanks to its high-quality land reserve. In addition, although low-profit projects and high impairments will hinder the company's profit recovery this year, the positive change in dividend policy should increase the visibility of earnings per share growth. The target price has been reduced from 7.56 Hong Kong dollars to 7.05 Hong Kong dollars, with a rating of "shareholding".
Ping An Insurance: All the preconditions of Lufax's tender offer have been met.
Lufax (06623) and Ping An Insurance (02318), regarding Morgan Stanley's mandatory unconditional cash tender offer on behalf of and representing the consortium offerors, all the preconditions of Lufax's tender offer have been met on August 26, 2024.
Morgan Stanley Slashes Global Oil Demand Growth Forecast For 2024: Report
Market Chatter: Intel Retains Morgan Stanley to Fend off Activist Investors
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.
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.
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.
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.
M&A Activity Remains Subdued in Q2 2024, Keeping Lid on Investment Bank Fees
Fresh off $1.6 Billion Loss, Intel Prepares for Possible Activist Investors: Report
Express News | Intel Has Hired Morgan Stanley, Other Advisers for Activist Defense - CNBC
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Unpacking the Latest Options Trading Trends in Morgan Stanley
Daiwa: Stella Holdings upgraded to 'shareholding' rating, target price raised to HK$16.2.
Morgan Stanley released a research report stating that Stella Holdings (01836) is still one of the preferred footwear manufacturers, benefiting from the recovery in demand for luxury goods and fashion footwear, as well as improved growth in sports shoes. The new cash back plan could also boost market sentiment for the stock. Due to the positive investment sentiment brought by the cash back plan, clear prospects for orders in the second half of the year, reduced concerns about macro uncertainties, and good order visibility, Morgan Stanley has raised the target price for Stella Holdings from HK$15.8 to HK$16.2, which is equivalent to a PE ratio of 10 times, and the rating is "hold".
Morgan Stanley lowered its forecast for Brent crude oil prices in the fourth quarter.
Morgan Stanley has lowered its fourth-quarter Brent crude oil price forecast by $5 to $80 per barrel.
Overnight news: U.S. stocks fell. The proposer of the "Sam Rule" said the Fed should cut interest rates by 50 basis points in September. The president of the Federal Reserve Bank of Philadelphia said the extent of the interest rate cut should be determine
For more global financial news, please visit the 24/7 real-time financial news market closing: US bond yields rose before Powell's speech, US stocks fell, Nasdaq fell 300 points. Top 20 US stock market turnover in August 22: Apple will allow EU users to delete default apps such as Safari. China concept stocks had mixed performances on Thursday, with GDS Holdings rising by 10.4% and Netease falling by 11.2%. US WTI crude oil closed above $73 per barrel on Thursday. COMEX gold futures fell by 1.06% to $2520.6 per ounce. Major European stock indices closed with mixed performances, with the Euro Stoxx 50 index remaining flat.
Overseas Headlines: The collective reduction of balance sheets by the US, Japan, Europe, and the UK central banks has uncertain impacts. Apple will allow the deletion of default applications like Safari to comply with EU requirements.
The headline news that the global financial media focused on last night and this morning mainly include: uncertainty about the impact of the collective balance sheet reduction by the central banks of the United States, Japan, Europe, and the United Kingdom, everyone can only feel their way across the river. After exploring multiple unknown areas in the past twenty years, the central banks of developed countries are entering a new stage: implementing quantitative tightening policies together for the first time. The Bank of Japan decided last month to gradually reduce its holdings of government bonds in the coming years, which means that it will reduce its balance sheet at the same time as the Federal Reserve, the Bank of England, and the European Central Bank. When the Federal Reserve first began reducing its balance sheet in 2019, the money market suddenly plunged into chaos, catching decision-makers off guard. Although Powell had stated that, in the event that the U.S. central bank reduces its holdings of bo
Morgan Stanley International Chairman Jonathan Bloomer Dies in Yacht Disaster - Report
7 Financials Stocks With Whale Alerts In Today's Session
The fifth body was found on Lynch's luxury yacht, Morgan Stanley International Chairman Bloomer confirmed the death.
Italian rescue teams found the fifth body in the sunken yacht near Sicily. British technology tycoon Mike Lynch and other passengers on board are feared to have perished. The children of Morgan Stanley International Chairman Jonathan Bloomer stated in a statement on Thursday that Bloomer and his wife Judy were also among the casualties. The two were invited as guests to board the superyacht Bayesian to celebrate Lynch's acquittal in the trial, in which Bloomer was a defense witness. Authorities said that when the Bayesian yacht was hit by a tornado near Porticello, Sicily, six people may have been