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Goldman Sachs has reduced its price target for UBS from 44.50 to 36.00 francs while maintaining a "Buy" rating. Analyst Chris Hallam noted that the outlook for European banks is the strongest in two decades, with institutions like Deutsche Bank and BNP Paribas poised to benefit, despite UBS facing stricter capital requirements.
BNP Paribas Exane has initiated coverage on Carnival Corporation with an Outperform rating and a price target of $26, driven by optimism surrounding the upcoming launch of Celebration Key in July 2025. The cruise operator is expected to enhance revenue yields and accelerate free cash flow generation, supported by a strong financial health score and profitability metrics. Recent first-quarter results for 2025 showed a 7.47% revenue increase to $5.8 billion, prompting credit rating upgrades and higher price targets from various analysts, reflecting robust demand and positive growth prospects.
BNP Paribas Exane has initiated coverage on Royal Caribbean Cruises with an Outperform rating and a price target of $262, highlighting the company's innovative private island strategy and potential for significant Net Yield growth. The cruise operator has seen an impressive 58.6% return over the past year, with revenue increasing by 18.6% and an EBITDA of $5.7 billion. Despite broader economic challenges affecting travel stocks, analysts remain optimistic, with targets ranging from $185 to $330.
BNP Paribas has maintained an overweight rating on Larsen & Toubro (L&T), citing a robust order inflow growth projected to exceed 15% this year, driven by a significant offshore contract from QatarEnergy LNG. The firm anticipates EBITDA margins to rise from 8.3% to 8.6% next year, supported by major projects and improved working capital management. Additionally, confidence in JSW Infrastructure's growth prospects was expressed, with projected EBITDA reaching ₹90-100 billion by FY30.
BNP Paribas announced that no stabilisation was carried out for the EUR 400 million offer of Ontex Group NV's 5.25% securities due April 2025. The announcement clarifies that the securities are not available for sale in the United States and have not been registered under the U.S. Securities Act.
BNP Paribas has reported no stabilisation actions for Ontex Group NV's recently issued EUR 400 million securities, which carry a 5.25% yield due in April 2025. The absence of stabilisation measures indicates that the market for these securities remained stable post-issuance. Additionally, the securities are not registered under the U.S. Securities Act of 1933, prohibiting their offer or sale in the United States without proper registration or exemption.
Larsen and Toubro (L&T) shares rose 1.6% to Rs 3,499 after BNP Paribas maintained an "outperform" rating, citing a strong outlook for the year. The company secured a record $4 billion offshore contract from QatarEnergy, enhancing its growth prospects.Goldman Sachs forecasts an 18% increase in core revenue for Q4, with overall revenue expected to rise by 17% year-on-year, supported by an 11% growth in order inflows.
BNP Paribas anticipates a half-percentage point interest rate hike from the European Central Bank (ECB) in the latter half of 2026, driven by increased defense and infrastructure spending. The bank has raised its euro zone growth forecasts to 1.3% for this year and 1.5% for 2026, while predicting average inflation of 2.2% this year and 2% next year. In the near term, it expects the ECB to cut its policy rate to 2% by June, influenced by disinflation and the negative impact of higher U.S. tariffs.
BNP Paribas anticipates a half percentage point interest rate hike from the European Central Bank (ECB) in the latter half of 2026, driven by increased defense and infrastructure spending. The bank has raised its euro zone growth forecasts to 1.3% for this year and 1.5% for 2026, while predicting average inflation of 2.2% this year and 2% next year. In the short term, the ECB is expected to cut its policy rate to 2% by June, with traders anticipating further cuts before a potential rate hike in September 2026.
The European Central Bank emphasizes caution regarding banking deregulation, highlighting the potential instability it can cause. Amid concerns from European banks about competitiveness against US counterparts, the ECB remains opposed to simplifying regulations that could undermine the banking system's resilience. The implementation of Basel rules faces delays, with the US postponing until 2028, while the European Commission plans to report on the banking system's state in 2026.
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Goldman Sachs lowers UBS price target but maintains buy rating
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22:17 27.03.2025
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10:48 27.03.2025
L&T shares rise as BNP Paribas maintains positive outlook for 2025
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05:18 27.03.2025
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European Central Bank warns against banking deregulation amid competitiveness concerns
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15:57 26.03.2025
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