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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.
In 3Q 2024, telco network infrastructure vendor revenues reached $49.6B, with Huawei, Ericsson, and Nokia dominating the market, holding 37.5% of the annualized share. Despite a slight quarterly growth, the overall market saw a 5.6% year-over-year decline, driven by a forecasted dip in telco capex from $314B in 2023 to below $300B in 2024. Notably, Tejas Networks and Broadcom led in revenue growth due to significant contracts and acquisitions.
Deutsche Bank has downgraded its rating on Adecco shares from 'buy' to 'hold', reducing the price target from 36 to 25 Swiss francs. The firm expressed concerns about the impact of the current economic climate on the recruitment market, particularly due to heightened political and economic uncertainty in Europe, with significant effects expected in the UK, France, and Germany. Adecco's substantial exposure to the French market is likely to negatively affect its earnings prospects.
UBS has raised its price target for Universal Music Group (UMG) from €26 to €31, maintaining a 'buy' recommendation. This new target indicates a 15% upside potential, driven by expectations that UMG's subscription-based streaming revenues will surpass consensus, signaling strong growth potential for the stock.
Kristin Larson, a former senior vice president at UBS, has launched NewSpring Wealth Partners under the Sanctuary Wealth network, managing approximately $200 million in client assets. Emphasizing her commitment to empowering mid-career professionals, especially women, Larson aims to provide enhanced support and objective investment solutions as an independent advisor. Sanctuary Wealth's CEO highlighted the growing demand for women advisors amid the ongoing wealth transfer, positioning Larson as a key figure in this evolving landscape.
UBS has upgraded Société Générale, indicating a potential short-term upside of about 5% over consensus for fiscal 2025. The reaffirmation of targets for fiscal 2026, especially regarding capital generation and distributions, is believed to enhance the price-to-earnings ratio, now valued at 6.2 compared to the industry average of 7.5.
UBS has upgraded Société Générale, indicating a potential short-term upside of about 5% over consensus for fiscal 2025. The reaffirmation of targets for fiscal 2026, especially regarding capital generation and distributions, is believed to enhance the price-to-earnings ratio, now set at 6.2 compared to the industry average of 7.5.
Société Générale has received an upgrade from UBS, which indicates a potential short-term upside of approximately 5% over consensus for fiscal 2025. The reaffirmation of targets for fiscal 2026, especially regarding capital generation and distributions, is believed to enhance the price-to-earnings ratio, now valued at 6.2 compared to the industry average of 7.5.
UBS Global Research has downgraded Rockwool to a 'sell' rating due to concerns over declining profit margins and weak growth prospects, resulting in a more than 3% drop in shares. Analysts predict a decrease in EBIT margins from 17.8% in 2024 to around 15% in the coming years, influenced by challenging market conditions in Eastern Europe, Germany, and France. UBS has also lowered its 12-month price target for Rockwool from DKK 2,525 to DKK 2,480, reflecting a cautious outlook amid rising energy costs and inflationary pressures.
Societe Generale Ghana has been named the Best Trade Finance Provider in Ghana for 2025 by Global Finance, highlighting its commitment to client-focused solutions and leadership in the financial sector. The award reflects the bank's exceptional performance and the dedication of its corporate team in understanding client needs. Societe Generale Group also received accolades as the World’s Best Supply Chain Finance Provider and Best Trade Finance Bank in several African countries, reinforcing its position as a trusted partner for businesses.
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telecom vendor analysis reveals growth trends for huawei ericsson and nokia
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12:15 10.02.2025
telecom vendor revenues show mixed results with Huawei leading in 3Q24
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12:15 10.02.2025
deutsche bank downgrades adecco to hold amid economic uncertainty in europe
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