UBS is in the process of acquiring full control of its securities joint venture in China by increasing its stake in UBS Securities to 100%. The current partner, Beijing State-owned Assets Management (BSAM), plans to auction its 33% stake, while UBS holds the remaining 67%.
UBS maintains its Buy recommendation for Adidas with a price target of €280, following positive insights from management meetings in the US. The company anticipates a significant acceleration in North America in Q4 and projects an operating profit of €1.2 billion for 2024, up from a previous estimate of around €1 billion.
Motilal Oswal Wealth Management identifies five key stocks poised to benefit from the upcoming wedding season, predicting a 10-15% upside over the next 3-6 months. The sectors highlighted include Jewellery, Retail, Hotels, and Automotive, with an estimated business of Rs 6 lakh crore from 48 lakh weddings during the November-December period. The selected stocks are Titan, Eicher Motors, Vedant Fashion, Safari, and Lemon Tree.
UBS has reaffirmed its buy recommendation for adidas, maintaining a price target of €280 after discussions with US management indicated a strong acceleration in North America expected in Q4 and beyond. The company has revised its 2024 operating profit forecast to €1.2 billion, up from €1 billion.
UBS has maintained its target for adidas, as reported by Cercle Finance. BOURSORAMA, acting solely as a distribution channel, emphasizes that it has not influenced the analysis, which is provided for informational purposes only and carries no contractual value. The institution adheres to strict conflict of interest management policies to ensure objectivity in its investment recommendations.
Best Buy has lowered its full-year sales forecast, anticipating revenue between $41.1 billion and $41.5 billion, down from previous estimates. The retailer reported a 2.9% decline in comparable sales, attributed to weaker demand for appliances and gaming, despite some growth in computing and services. CEO Corie Barry noted that consumer demand is picking up as holiday sales approach, although macroeconomic uncertainties persist.
Customers of Commerzbank AG are increasingly turning to Deutsche Bank amid concerns over a potential takeover by UniCredit SpA. Deutsche Bank has already secured business from some Commerzbank clients and is in discussions that may lead to further client relationships, according to Jan-Philipp Gillmann, head of Corporate Bank Germany & Europe.
The United Arab Emirates is considering a pollution-charging mechanism to enhance its leadership in climate change initiatives. Proposed by Abu Dhabi’s Environment Agency, this system aims to incentivize companies to reduce greenhouse gas emissions, according to Eva Torreblanca, a director in the agency’s policy and planning division.
Dick’s Sporting Goods Inc. has raised its full-year sales outlook following a successful back-to-school season driven by strong demand for sports gear. The retailer anticipates net sales could reach up to $13.3 billion, with comparable store sales expected to rise between 3.6% and 4.2%. Earnings per diluted share are projected to be in the range of $13.65 to $13.95.
Hennessy has halted its plan to ship Cognac in vats to China, a strategy aimed at circumventing tariffs. This decision follows a strike by workers at the LVMH label in France, prompting management to suspend the shipments that were set to occur shortly.