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Express News | Shares of Banks and Financial Services Stocks Are Trading Higher Amid an Overall Market Rebound Following Recent Weakness
Ulrike Hoffmann-Burchardi -- Barrons.com
UBS Hires Private Wealth Advisor Lin Reynolds in New York City
UBS Group: Maintains SAMSONITE 'Buy' rating and lowers the Target Price to 28.7 HKD.
UBS Group released a Research Report stating that it maintains a "Buy" rating for SAMSONITE (01910), with the Target Price reduced from HKD 29.8 to HKD 28.7. It is expected that this year SAMSONITE's growth will slow down due to tariffs and uncertainties in the macro environment, which may undermine the confidence of USA consumers, while the USA business accounts for nearly 40% of its revenue. However, the bank believes the market has already priced in this year's weaker outlook, estimating that current pricing reflects a 3% decline in reported net sales this year, with an adjusted EBITDA margin expected to contract by 200 basis points, a situation similar to 2019, which the bank considers to be a conservative expectation. Besides these cyclical disadvantages.
Overview of the opinion: The U.S. Treasury Secretary stated that the decline of the dollar is a natural adjustment, and UBS Group advises against bottom-fishing in U.S. stocks.
USA Treasury Secretary Ben S. Bernanke stated that the recent decline of the dollar is a natural correction. Former USA Treasury Secretary Mnuchin downplayed the risk of economic recession, stating that a stock market correction is reasonable. UBS Group strategists suggest not to bottom fish U.S. stocks yet, predicting a further decline of 5% in the S&P 500 Index. USA Treasury Secretary Ben S. Bernanke: The recent decline of the dollar is a natural correction. USA Secretary of the Treasury Scott S. Bernanke downplayed the impact of the recent dollar decline, calling it simply a natural adjustment. In an interview on Thursday, Bernanke stated, "After Trump's election as president and the Republican sweep in both houses of Congress, the dollar has absorbed a lot of Bullish sentiment, so a correction now is very natural."
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