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Morgan Stanley Newsroom
Morgan Stanley maintains TINGYI's "Shareholding" rating, with the Target Price lowered to HKD 11.3.
Morgan Stanley released a research report stating that it has slightly lowered the Target Price for TINGYI (00322) by 2%, from HKD 11.5 to HKD 11.3, while maintaining a "Shareholding" rating. Morgan Stanley indicated that it has reduced its earnings forecast for TINGYI for 2024-2026 by 2%, mainly due to: 1) a 1% downward adjustment in sales forecast, considering weak beverage sales due to competition; 2) a 0.2 percentage point reduction in gross margin forecast, due to increased palm oil costs; 3) operational expenditure forecasts remain largely unchanged. The report states that the firm's fundamental assumption for TINGYI is that the company will maintain stable raw material prices by 2025.
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Shares of US Banks Are Trading Higher After Federal Reserve Board Vice Chair for Supervision Michael Barr Announced He Will Step Down, Effective Feb. 28.
Bank stocks in the USA have risen as Barr stepped down as vice chairman, which heightened expectations for regulatory easing.
The KBW Banks Index rose by as much as 2.2%, reaching its highest intraday level since December 16, after the Federal Reserve announced that Michael Barr would resign as Vice Chair for Supervision, effective February 28 or an earlier date when a successor is confirmed. Recommended reading: Adam Crisafulli of Vital Knowledge wrote, "Barr is seen as an advocate for strengthening Industry regulation and capital rules, and his departure from the banking regulatory position is a positive development."
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Pork producer Smithfield applies for an IPO listing on the American stock market.
Pork producer Smithfield Foods announced its paperwork for its initial public offering (IPO) in the USA on Monday. Last year, the IPO market in the USA saw a rebound as a stronger stock market and increased bets on an economic soft landing encouraged companies to go public. Analysts and banking executives expect 2025 to be a bumper year for IPOs in the USA, thanks to lower interest rates and a long list of companies waiting to enter the public market. Smithfield Foods will be listed on the Nasdaq Global Select Market.
UBS Adjusts Price Target on Morgan Stanley to $130 From $112, Keeps Neutral Rating
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