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Enbridge Inc. reported $0.75 earnings per share for the latest quarter, exceeding analysts' expectations of $0.52, with revenue reaching $11.59 billion. Analysts forecast a full-year EPS of $2.14, while the company holds a Moderate Buy rating among investors. Institutional ownership stands at 54.60%, with JPMorgan reducing its stake by 1.1% recently.
The recent 25% auto tariffs announced by the Trump administration could disrupt the U.S. automotive industry, potentially leading to a loss of 2.5 to 3.2 million vehicle sales annually, or up to 20% of the market. While U.S.-based automakers like Tesla and Ford may benefit from reduced imports, General Motors faces significant exposure due to its reliance on imported vehicles. The tariffs, effective April 3, could raise car prices by up to $10,000, impacting consumer demand and manufacturing strategies.
Imperial Oil (TSE:IMO) has been downgraded from a "neutral" to a "sell" rating by The Goldman Sachs Group. While one analyst has issued a sell rating, nine others maintain a "hold" rating, with a consensus target price of C$105.67. The company's shares recently traded at C$103.75, reflecting a market cap of C$54.16 billion.
Tesla shareholders frustrated with Elon Musk have limited options for change, primarily through voting for new board members or selling their stock. Legal action against Musk is unlikely to succeed, as proving negligence or disloyalty is challenging. Shareholder discontent could escalate, especially among retail investors, potentially leading to significant actions reminiscent of past meme stock movements.
Deutsche Bank has reaffirmed its Buy rating on Shopify stock with a $150 price target, reflecting confidence in the company's market positioning and growth potential. Shopify is benefiting from retail trends such as unified commerce and Generative AI, alongside strong revenue growth of 25.78% over the past year. The company is gaining traction in the mid-market and enterprise segments, driven by dissatisfaction with existing vendors, while an expanded partnership with Affirm Holdings is set to enhance its payment services.
On March 28, Goldman Sachs acquired shares worth ₹281 crore in HAL and Zomato, purchasing 3.85 lakh and 60.07 lakh shares, respectively, at prices ranging from ₹199.5 to ₹4,176.25. The deal, valued at ₹280.96 crore, coincided with Kadensa Capital selling the same number of shares. In the broader market, domestic equity benchmarks closed lower amid investor caution over US tariffs and upcoming PCE data, with the BSE benchmark Sensex gaining over five percent in FY25 despite a volatile trading environment.
Barclays has lowered its price target for Lululemon Athletica from $411 to $309 while maintaining an equal-weight rating. The company specializes in technical sportswear, with net sales primarily generated from directly operated stores (45.9%) and online sales (44.8%). Geographically, 66% of sales come from the United States, followed by Canada (13.4%), China (10%), and other regions (10.6%).
On April 2, President Trump is expected to implement significant reciprocal tariffs on 15-25 countries, potentially using Section 338 of the Tariff Act of 1930 or the International Emergency Economic Powers Act. These tariffs may target nations with large trade deficits with the U.S. and high trade barriers, including China, the EU, India, Canada, and Japan. Barclays anticipates that real negotiations will commence post-April 2, warning of prolonged trade tensions ahead.
Goldman Sachs has revised its price target for Dollar Tree, Inc. to $86 from $93. As a leading American discount retailer, Dollar Tree offers a wide range of products, including consumables, clothing, electronics, and seasonal items, operating 16,774 stores across the U.S. and Canada.
The Province of Saskatchewan is set to issue a bond worth CHF 120 million, managed by UBS and CIBC, with a coupon rate of 1.070%. The bond will mature in ten years on April 17, 2035, and is rated Aa1/AA by Moody's and S&P. It will be listed on SIX starting April 15, 2025.
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enbridge reports strong earnings growth amid mixed analyst ratings and market activity
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