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UBS has reduced its price target for Delivery Hero from 56 to 55 euros while maintaining a "Buy" rating. Analyst Jo Barnet-Lamb noted that the company's true value remains underestimated, especially compared to US competitor Doordash, which is valued over twice as high. Delivery Hero is still considered the top internet stock in Europe for the next year.
Siemens AG is a leading global manufacturer of electronic and electrotechnical equipment, with sales divided among digital industrial equipment (28.2%), medical equipment (27.8%), intelligent building solutions (27.8%), mobility systems (13.5%), and financial activities (4.9%). Geographically, sales are distributed as follows: Germany (16.3%), Europe-CIS-Africa-Middle East (30.8%), USA (23.9%), America (5.2%), and Asia and Australia (23.8%).
UBS has maintained a 'Buy' rating for Siemens, setting a target price of 200 euros ahead of the upcoming quarterly report in February. Analyst Andre Kukhnin anticipates that the results will indicate a stabilization of profits, supporting the positive outlook for the company.
Delivery Hero SE, a German online food ordering company, operates in over 40 countries, providing a diverse range of cuisines including pizza, burgers, and vegan options. Its extensive brand portfolio features names like Foodpanda, Talabat, and Yemeksepeti, accessible via web and mobile applications.
UBS has raised its price target for Munich Re shares from 540 to 555 euros but downgraded the rating from "Buy" to "Neutral." Analyst Will Hardcastle cited appropriate valuation and price risks in the upcoming renewals, noting that the higher earnings target for 2025 is unlikely to lead to increased shareholder distributions.
UBS has raised its target price for Munich Re shares from 540 to 555 euros but downgraded the stock from "buy" to "neutral." Analyst Will Hardcastle cited appropriate valuation and price risks in the upcoming renewals, noting that the 2025 profit target is unlikely to lead to increased shareholder distributions.
The global economy in 2025 is marked by diverging trends, with the US showing resilience and growth, while Europe faces stagnation and uncertainty, particularly in the industrial sector. Switzerland's economy is expected to grow moderately at 1.3%, driven by a strong chemical and pharmaceutical industry, despite challenges from a strong franc and weak industrial demand. Political instability and delayed reforms in Europe hinder recovery, raising risks of a downward spiral in industry.
UBS has downgraded Munich Re to a 'Neutral' rating, setting a target price of up to 555 euros. As of December 19, shares are trading at 503.20 euros, reflecting a decrease of 0.83% from the previous day. The stock has seen an annual high of 526.00 euros and a low of 373.70 euros.
Novartis is closing MorphoSys sites in the U.S. and Germany, resulting in 330 job losses, as part of a strategic shift following mixed trial results for the drug pelabresib. The company, which acquired MorphoSys for $2.9 billion, has delayed regulatory submission for the drug until at least 2027 due to the need for additional data. This move is part of a broader restructuring effort that has seen Novartis cut back significantly in recent years.
Market participants are adopting a defensive stance ahead of the Federal Reserve and Bank of Japan meetings, with expectations for a 25 basis point rate cut from the Fed to return rates to neutral amid rising unemployment and stagnant inflation. The US dollar shows resilience despite less hawkish Fed rate bets, while the EUR/USD faces downside risks unless it breaks above 1.062. Meanwhile, diminished BoJ rate-hike expectations are weighing on the yen, with USD/JPY maintaining upward momentum within a rising channel.
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