Daiwa Securities Adjusts PT on JPMorgan Chase & Co. to $266 From $267, Maintains Outperform Rating
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Swiss pharmaceutical giant Novartis raises its expectations for 2025, driven by strong growth in the first quarter.
The Swiss pharmaceutical company Novartis Group NOVN.S announced on Tuesday a more optimistic full-year profit outlook, benefiting from the strong performance of drugs such as Leqvio, Kisqali, and Kesimpta in the first quarter. The company stated in a statement that, excluding non-recurring items, it expects operating profit to achieve "low double-digit" growth in 2025. Previously, the company had projected growth expectations for this year to be "high single-digit to low double-digit," while the actual growth rate for this indicator in 2024 was 22%. In the first quarter, net income, excluding special items, increased by 22% to 4.48 billion US dollars, surpassing the analysts' estimate of about 4.2 billion US dollars.
JPMorgan Hires CDH Investments Chief to Strengthen Asia Pacific Push
Express News | JPMorgan Hires Alex to as Bank's Vice Chairman for Asia Pacific, Memo Says
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JPMorgan has raised its forecast for the euro to 1.20 USD due to an increase in long positions.
JPMorgan has raised its forecast for EUR/USD, expecting it to rise to around 1.20 by the end of the year, driven by an increase in long positions. In a report published on April 25, strategists led by Meera Chandan wrote: "We expect EUR/USD to approach around 1.20 this year." JPMorgan has raised its target range for EUR/USD at the end of the year from 1.14-1.16 to 1.20-1.22. EUR/USD is currently around 1.14. The bank believes that the slowing economic growth in the USA, withdrawal of funds from US stocks, and Europe's fiscal policy will influence the mid-term prospects.
Boeing, Goldman Sachs Share Gains Contribute To Dow's 280-Point Jump
Morgan Stanley strategist Wilson: The weakness of the dollar will support US stocks outperforming Other global markets.
Michael Wilson of Morgan Stanley stated that a weaker dollar will support corporate earnings in the USA, helping American stocks outperform Other global markets. As many Wall Street strategists believe the era of American exceptionalism is coming to an end, Wilson uniquely believes that the USA remains a relatively good investment choice. He pointed out that the lower volatility of corporate earnings growth and the perception of higher quality among American companies are other reasons supporting this view. "We are still in the later stage of the cycle, where high-quality firms and large-cap stocks are expected to continue to perform well," he wrote in a report on Monday. Wilson expects
J.P. Morgan: Downgraded HKEX rating to 'Neutral' with a Target Price of 340 Hong Kong dollars.
JPMorgan released a research report stating that since early April, the stock price of HKEX (00388) has rebounded approximately 14% from its low, compared to an 11% rise in the Hang Seng Index during the same period. As recent market trading volumes have returned to more normal levels from a daily average high of around 2.97 billion yuan, it is reasonable for the average daily trading amount at current price levels to reach between 1.70 billion to 1.90 billion yuan per day. It is suggested that if the stock price rises further, investors may consider taking profits and exiting, and the rating has been downgraded from "Shareholding" to "Neutral," with a target price of 340 Hong Kong dollars.
J.P. Morgan: Long-term rating of "Shareholding" for BYD shares continues to be a top pick.
JPMorgan released a Research Report stating that BYD Company (01211) exceeded performance expectations in the first quarter. Currently, JPMorgan predicts that BYD's sales this year will increase by about 30% year-on-year, reaching approximately 5.5 million Autos, while next year's global delivery is expected to reach 6.5 million Autos. The firm reiterates its long-term "Shareholding" rating and continues to list it as an industry preferred stock, with a Target Price of HKD 600. Based on the bank's communication with management at the Shanghai Auto Show, sales of new models equipped with autonomous driving features have accounted for 60% to 70% of total sales, and it is believed that order volumes will remain stable in the coming months, predicting that BYD will compete in the Chinese high-end Autos market with prices exceeding RMB 0.2 million.
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