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UBS Global Research has raised its target price for Rheinmetall to €805, reflecting optimism driven by geopolitical tensions and increased global defense spending. Former President Trump's advocacy for higher military budgets is influencing a bipartisan push for enhanced national security, benefiting defense contractors like Rheinmetall. The company's focus on innovation in advanced military technologies positions it well to capitalize on rising defense procurement and modernization efforts by nations worldwide.
Blair William & Co. IL now holds 7,238 shares of Hormel Foods valued at $221,000 after acquiring 937 additional shares. Pacer Advisors Inc. increased its stake by 81% to 36,665 shares worth $1,118,000, while Sei Investments Co. grew its holdings by 23.7% to 260,674 shares valued at $7,947,000. Institutional investors own 40.99% of the company, which operates in various food segments and recently received mixed ratings from analysts, with a current average rating of "Hold."
BCE has been downgraded by Barclays from a "hold" to a "strong sell" rating, with several analysts lowering their target prices. Currently, BCE holds an average rating of "Hold" with a price target of C$41.88, while its shares traded at C$33.46, reflecting a challenging market outlook. The company reported a quarterly EPS of C$0.75, missing estimates, and has a market cap of C$30.52 billion.
Guy Janssens, head of investment specialists at BNP Paribas Fortis, emphasizes the importance of sustainable investing, having grown a sustainability-focused portfolio from €11 million to €15 billion since 2011. He advocates for green bonds as a critical tool for energy transition and highlights the bank's commitment to reducing fossil fuel support while increasing low-carbon financing. Janssens believes collaboration across the financial sector is essential for driving meaningful change towards sustainability.
HSBC is set to close its Zing app, launched just a year ago, following a strategic review. The app, which allowed users to manage multiple currencies, will see its technology integrated into HSBC, with customers offered alternatives to transition to HSBC UK services. This decision is part of a broader effort to streamline operations, which has included recent sales of banking operations in Argentina and Germany.
Rheinmetall shares soared to a record high of €730.20 following a significant price target increase by UBS analyst Sven Weier, who raised the target from €630 to €805, citing expected growth in defense spending by NATO countries. The stock has been on an upward trend, surpassing the €700 mark for the first time earlier this week.
Satya Nadella affirmed Microsoft’s commitment to invest $80 billion in AI infrastructure amid Elon Musk's skepticism about the Stargate Project's funding. While Musk claimed partners lack sufficient cash, Nadella emphasized Microsoft's ongoing collaboration with OpenAI and the importance of building practical AI solutions. Despite tensions, both companies maintain a strong partnership, with Microsoft holding exclusive rights to OpenAI's API on its Azure platform.
HSBC is shutting down its payments app Zing just a year after its launch, following a strategic review. The app, aimed at young customers and international students, failed to expand beyond the UK and is part of the bank's simplification strategy under new CEO Georges Elhedery. This closure reflects the challenges traditional banks face in the competitive fintech market, as seen with other failed ventures like NatWest's Bó and Barclays' Pingit.
Yonyou has partnered with Deutsche Bank to assist Chinese financial services firms in their global expansion efforts. This collaboration will integrate Yonyou’s treasury management system with Deutsche Bank’s financial system, enhancing data access and optimizing financial resources while providing efficient payment services for businesses operating internationally. Leo Yin, president of Deutsche Bank China, emphasized the partnership's role in supporting the global growth ambitions of Chinese companies.
Intel is set to announce its Q4 and full-year 2024 financial results on January 30, 2025, with analysts projecting a revenue drop to $13.81 billion and EPS of $0.12. The company faces scrutiny over its AI chip development amid competitive pressures and leadership changes, impacting investor confidence. Key segments show mixed performance, with the Client Computing Group expected to grow while Data Centre and AI revenues decline.
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ubs raises target for rheinmetall amid rising global defense spending
13:53 23.01.2025
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