来源：滚动播报 丰业银行将甲骨文公司目标股价从360美元下调至260美元。 ...

Core Viewpoint - The article highlights three high-yield stocks—Enterprise Products Partners, Bank of Nova Scotia, and W.P. Carey—as attractive investment options for reliable income as 2025 approaches. Group 1: Enterprise Products Partners - Enterprise Products operates in the midstream energy sector, which is less volatile compared to other energy segments, focusing on energy infrastructure assets [4][6]. - The company has a market capitalization of $71 billion, a current price of $32.61, and a dividend yield of 6.62%, with a history of increasing distributions for 27 consecutive years [5][6]. - Enterprise's distributable cash flow covers its distribution by approximately 1.7 times, indicating strong financial health and resilience against potential downturns [7]. Group 2: Bank of Nova Scotia - Bank of Nova Scotia offers a dividend yield of 4.5% and has a long history of paying dividends since 1833, emphasizing its commitment to reliable income [8][12]. - The bank is undergoing a strategic overhaul, exiting less desirable markets and increasing its U.S. exposure through partnerships, which may enhance its growth prospects [10][12]. - Despite recent challenges, the dividend was maintained in 2024 and increased again in 2025, reflecting management's confidence in the turnaround strategy [12]. Group 3: W.P. Carey - W.P. Carey, a net lease REIT, is transitioning from a focus on office properties to industrial, warehouse, and retail sectors, which is expected to drive future growth [13][14]. - The REIT's adjusted funds from operations (FFO) increased by 6.5% year-over-year in Q3 2025, and it has raised its full-year guidance for 2025 [16]. - W.P. Carey currently has a dividend yield of 5.36%, which is above the market average, and has resumed increasing its dividend after a strategic reset [17].

Core Viewpoint - Bank of Nova Scotia (BNS) has received a Zacks Rank upgrade to 2 (Buy), indicating a positive outlook based on rising earnings estimates, which are a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system tracks earnings estimates from sell-side analysts, and changes in these estimates are strongly correlated with near-term stock price movements [2][4]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, which can drive stock price movements [4]. Recent Performance and Outlook - Bank of Nova Scotia's earnings estimate for the fiscal year ending October 2026 is projected at $5.77 per share, with a 1.9% increase in the Zacks Consensus Estimate over the past three months [8]. - The upgrade reflects an improvement in the company's underlying business, which is expected to positively influence its stock price [5]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a "Strong Buy" or "Buy" rating, indicating superior earnings estimate revisions [9][10]. - The upgrade to Zacks Rank 2 positions Bank of Nova Scotia among the top 20% of stocks covered by Zacks, suggesting potential for market-beating returns in the near term [10].

Group 1 - Bank of Nova Scotia (BNS) has gained approximately 31.2% year-to-date, outperforming the average return of 15.8% for Finance companies [4] - The Zacks Consensus Estimate for BNS' full-year earnings has increased by 1.9% over the past three months, indicating improved analyst sentiment and earnings outlook [3] - BNS belongs to the Banks - Foreign industry, which has an average year-to-date gain of 48.9%, suggesting that BNS is slightly underperforming its industry [6] Group 2 - Bankwell Financial Group, Inc. (BWFG) has returned 52.8% year-to-date, significantly outperforming both the Finance sector and its own industry [4] - The consensus EPS estimate for BWFG has increased by 6.9% over the past three months, reflecting positive analyst sentiment [5] - The Banks - Northeast industry, to which BWFG belongs, has moved up by 7.4% year-to-date, ranking 63 in the Zacks Industry Rank [7]

Group 1 - The target price for Merck & Co. has been raised from $105 to $120 by Scotiabank, maintaining an "Outperform" rating [1]

Scotiabank Performance Summary - Revenue for the latest quarter reached $9.80 billion, an increase from $8.53 billion in the same quarter last year [1] - The provision for credit losses was $1.11 billion, up from $1.03 billion a year ago [1] - Adjusted earnings per diluted share were $1.93, compared to $1.57 in the same quarter last year, exceeding analyst expectations of $1.84 [1] Business Segment Performance - Global wealth management reported net income of $447 million, up from $380 million year-over-year [2] - Global banking and markets earned $519 million, an increase from $347 million a year ago [2] - Canadian banking operations earned $941 million, slightly up from $934 million in the same quarter last year [3] - International banking arm's net income was $634 million, up from $600 million year-over-year [3] National Bank Performance Summary - National Bank reported a fourth-quarter profit of $1.06 billion, up from $955 million a year ago [5][9] - Revenue for the quarter was $3.70 billion, an increase from $2.94 billion in the same quarter last year [7] - Adjusted earnings per diluted share were $2.82, compared to $2.58 in the same quarter last year, surpassing analyst expectations of $2.62 [7] National Bank Business Segment Performance - Personal and commercial banking group earned $319 million, down from $327 million year-over-year [10] - Wealth management business earned $258 million, up from $219 million [10] - Capital markets arm reported earnings of $432 million, an increase from $306 million [10] - U.S. specialty finance and international operations earned $174 million, up from $157 million year-over-year [10] Royal Bank of Canada Performance Summary - Royal Bank of Canada reported a profit of $5.43 billion for the quarter, up from $4.22 billion a year ago [13][14] - Revenue for the quarter was $17.21 billion, an increase from $15.07 billion [14] - The bank increased its quarterly dividend to $1.64 per share, up from $1.54 [13]

Core Insights - The Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational bank established in 1832 in Halifax and currently headquartered in Toronto [1] Company Overview - Scotiabank operates as a significant player in the banking sector, focusing on providing a range of financial services [1] Investment Focus - The analysis primarily targets small- to mid-cap companies, which are often overlooked by investors, while also occasionally reviewing large-cap companies to provide a comprehensive view of the equity markets [1]

Core Viewpoint - 1832 Asset Management L.P. is enhancing the Marquis Investment Program by renaming it to Dynamic Integrated Portfolios and reducing fees, aiming to simplify the program and better serve clients [1][2]. Name Changes - The Marquis Investment Program will be renamed to Dynamic Integrated Portfolios effective December 5, 2025, with each underlying portfolio also receiving new names [2]. - New names include: - Marquis Balanced Income Portfolio to Dynamic Integrated Balanced Income Portfolio - Marquis Balanced Portfolio to Dynamic Integrated Balanced Portfolio - Marquis Balanced Growth Portfolio to Dynamic Integrated Balanced Growth Portfolio - Marquis Growth Portfolio to Dynamic Integrated Growth Portfolio - Marquis Equity Portfolio to Dynamic Integrated Equity Portfolio [2]. Fee Reductions - Management fees for select funds will be reduced by 0.10%, effective on or about December 5, 2025 [3][4]. - Specific fee changes include: - Dynamic Integrated Balanced Income Portfolio Series A from 1.70% to 1.60% - Dynamic Integrated Balanced Portfolio Series A, T from 1.75% to 1.65% - Dynamic Integrated Balanced Growth Portfolio Series A, T from 1.80% to 1.70% - Dynamic Integrated Growth Portfolio Series A, T from 1.85% to 1.75% [3][4]. Risk Rating Changes - Risk ratings for several funds will change effective on or about December 5, 2025, in accordance with the Risk Classification Methodology mandated by the Canadian Securities Administrators [5][6]. - Changes include: - Dynamic Conservative Yield Private Pool Class from Low to Medium to Low - Dynamic Global Equity Income Fund from Medium to Low to Medium - Dynamic Energy Evolution Fund from Medium to High to High [5][6]. Company Overview - Dynamic is a division of 1832 Asset Management L.P., offering a range of wealth management solutions including mutual funds and actively managed ETFs [7]. - 1832 Asset Management L.P. is a limited partnership, wholly owned by Scotiabank [7].

Core Insights - The Bank of Nova Scotia (BNS) is a significant player in the banking sector, offering a variety of financial services and competing both domestically and internationally [1] Financial Performance - BNS reported earnings per share (EPS) of $1.38, exceeding the estimated $1.33, marking a 4.51% positive surprise and an increase from $1.15 in the same quarter last year [2][6] - The bank achieved revenue of approximately $6.99 billion, surpassing the forecasted $6.73 billion and showing growth from $6.24 billion reported in the same period last year [3][6] Financial Metrics - BNS has a price-to-earnings (P/E) ratio of approximately 16.84, a price-to-sales ratio of about 1.64, and an enterprise value to sales ratio of around 7.25 [4] - Despite a high debt-to-equity ratio of approximately 5.78, BNS maintains a net margin of 9.74% and a return on equity of 11.61% [5][6] - The earnings yield is about 5.94%, while the current ratio is around 0.19, indicating challenges in covering short-term liabilities with short-term assets [5]

Core Viewpoint - The Canadian bank anticipates strong earnings growth in the upcoming year despite ongoing uncertainties related to U.S. trade policy, with expectations for solid capital and liquidity measures [1] Group 1 - The bank is focused on achieving strong earnings growth [1] - There is lingering uncertainty due to U.S. trade policy [1] - Capital and liquidity measures are expected to remain solid [1]