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analysts downgrade recommendations for major companies ahead of market opening
Analysts have made several adjustments to their recommendations for various companies. Notable changes include Deutsche Bank lowering Air France-KLM's sell recommendation to EUR 8.50 and JPMorgan downgrading Arkema and BASF to Underweight with targets of EUR 68.50 and EUR 45, respectively. Meanwhile, Genfit received a Buy rating from Van Lanschot Kempen, targeting EUR 9, and Nexity was initiated with a Buy coverage by CIC, targeting EUR 12.
telecom vendor analysis reveals growth trends for huawei ericsson and nokia
In 3Q 2024, telco network infrastructure vendor revenues reached $49.6B, with Huawei, Ericsson, and Nokia leading the market, accounting for 37.5% of total revenues. Despite a slight quarterly increase, the annualized market saw a 5.6% decline, primarily due to reduced capex forecasts. Tejas Networks and Broadcom reported significant year-over-year growth, driven by strategic developments in India and acquisitions.
ubs highlights strong growth potential in european cables sector
UBS Global Research has initiated coverage on the European cables sector, forecasting a 14% compound annual growth rate in high-voltage (HV) cable demand from 2022 to 2028, driven by infrastructure projects and renewable energy investments. Nexans is highlighted as well-positioned for growth, while NKT faces challenges, receiving a "sell" rating due to margin pressures. Prysmian holds a "neutral" rating amid concerns over its ability to achieve €3 billion in EBITDA by 2028, with risks stemming from competitive pressures and the cancellation of a US HV production facility.
ubs initiates buy coverage of nexans with price target of 145 euros
UBS has initiated coverage of Nexans with a 'buy' recommendation and a price target of 145 euros, citing an expected recovery in high-voltage margins by 2027 and a significant valuation discount compared to peers. In contrast, the firm rates Italian competitor Prysmian as 'neutral' with a price target of 70 euros, awaiting further insights during the March 26 investor day.
mixed market performance as companies report varied financial results
European stock indexes are expected to be mixed, with the FTSE Mib projected to decline by 0.2%. In Milan, notable movements included Leonardo rising 1.6% to a 52-week high, while Telecom Italia fell 0.8% amid legal challenges. Meanwhile, Japan reported a narrowed trade deficit, and UK consumer confidence dropped in January.
Raiffeisen MegaTrends ESG Shares Fund Targets Sustainable Growth Through Key Trends
The Raiffeisen-MegaTrends-ESG Shares fund focuses on long-term growth through investments in major megatrends such as demographic, climate, and technological changes. With over 70% of its assets in IT, industrials, consumer discretionary, and healthcare, the fund emphasizes sustainability by selecting companies based on ESG criteria. Currently, it holds significant positions in leading firms like Nvidia, Alphabet, and Amazon, aiming for a dynamic and diversified investment strategy.
European markets decline ahead of US vote as UBS and VW rise
European stock markets are down as investors reduce equity positions ahead of significant macroeconomic data and the upcoming U.S. vote on November 5. Paris and Milan fell by 1%, while London and Frankfurt declined by 0.5% and 0.4%, respectively. Despite the overall downturn, UBS and Volkswagen saw gains of 1.3% and 1.7% due to better-than-expected earnings, while Campari plummeted by 16% after disappointing quarterly results. Energy and utilities sectors remained stable amid a recovery in oil prices.
European markets decline ahead of crucial US vote and economic data
European stock markets are down as investors reduce equity positions ahead of significant macro data and the upcoming U.S. vote on November 5. Paris and Milan fell by 1%, while London and Frankfurt declined by 0.5% and 0.4%, respectively. Despite the overall downturn, UBS and Volkswagen saw gains of 1.3% and 1.7% due to better-than-expected earnings, while Campari plummeted by 16% after disappointing quarterly results. Energy and utilities remained stable amid a recovery in oil prices.
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