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UBS has maintained a "Neutral" rating on ASML with a price target of 900 euros following the chip supplier's preliminary quarterly figures and a forecast reduction. Analyst Francois-Xavier Bouvignies noted that the new outlook could decrease the consensus estimate for operating profit (EBIT) in 2025 by 15 to 20 percent.
Mountside Ventures has launched Europe's first VC accelerator, the Emerging VC Manager Program, aimed at supporting emerging venture capital managers. This free, twelve-week program offers mentorship from industry experts and fundraising support, with events in major cities like Berlin, London, and Amsterdam to connect participants with potential investors. The initiative seeks to empower underrepresented managers and strengthen the European tech ecosystem. Applications are now open for VCs looking to establish their first to third fund with a defined strategy.
Air France-KLM, a leading global airline, reported net sales primarily from passenger and cargo transport, accounting for 85.4% of its activities, with 72.1 million passengers and 0.9 Mt of cargo in 2023. The group also operates low-cost services through Transavia, carrying 21.5 million passengers, and offers maintenance services. By the end of 2023, the fleet comprised 551 aircraft, including 271 owned and 280 leased, distributed among Air France, KLM, and Transavia.
European countries and foundations have pledged nearly USD 700 million and reaffirmed commitments of USD 300 million to the WHO, emphasizing the need for sustainable funding to enhance global health initiatives. Key figures, including German Chancellor Olaf Scholz, announced significant contributions during the World Health Summit in Berlin, aiming to support WHO's investment cycle and its mission to improve health worldwide. The event highlighted the urgency of mobilizing resources ahead of the G20 Leaders' Summit next month.
UBS forecasts that European Central Bank interest rate changes could lower bank profits by 3-5% in Q3 2024, with French banks being less affected compared to their Italian and Spanish counterparts. Despite a temporary 8% corporate tax hike potentially reducing profits by 3% in 2025, the diverse revenue streams from insurance and asset management provide stability. UBS has downgraded earnings forecasts for major French banks for 2025-2026 by 5-6%, recommending Société Générale as the best option, with Crédit Agricole rated as a buy and BNP Paribas receiving a neutral rating.
Avania has acquired Anagram, a leading Spanish medical technology CRO based in Barcelona, to enhance its CRO offerings in Southern Europe. Founded in 1998, Anagram specializes in cardiology, oncology, and neurology, providing comprehensive clinical development services. This acquisition will expand Avania's geographic reach and expertise, benefiting its clients with increased resources and capabilities in the MedTech sector.
Avania has acquired Spanish medical technology CRO Anagram to enhance its presence in Southern Europe and expand its CRO offerings. Anagram, based in Barcelona, specializes in cardiology, oncology, and neurology, providing comprehensive clinical development services. This acquisition will strengthen Avania's capabilities and foster cross-selling opportunities in the growing MedTech market.
Meta's CEO Mark Zuckerberg credits AI for enhancing user recommendations and advertising effectiveness, while Argus maintains a "buy" rating for META stock with a $600 target. Taiwan Semiconductor Manufacturing, the largest semiconductor foundry, is poised for growth amid the AI boom, with a $200 target from Argus. ASML, the sole producer of EUV lithography equipment, is also highlighted as a key player in AI chip production, with a target of $1,250.
A proposed "purpose tax" aims to increase cigarette prices by 5 euros to generate up to 13.8 billion euros for the National Health Service in Italy. Supported by Senate Vice President Domenica Castellone, the initiative seeks to combat smoking-related health issues, particularly lung cancer, which accounts for a significant number of diagnoses in the country. Public sentiment appears favorable, with 62% of smokers backing the tax as a means to enhance health funding.
The telemedicine market is experiencing significant growth, projected to reach $451.4 billion by 2032, up from $84.3 billion in 2022, with a CAGR of 18.3%. This surge is driven by the demand for remote healthcare solutions, particularly post-COVID-19, enhancing patient access to medical care through virtual consultations. Key trends include improved video conferencing technology, increased use of wearable devices, and the expansion of telemedicine services across various medical specialties.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
UBS maintains neutral stance on ASML with revised price target of 900 euros
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