德商银行预计今年年底铜价将达9500美元/吨。 ...

Core Viewpoint - Deutsche Bank forecasts that copper prices will reach $9,500 per ton by the end of this year [1] Group 1 - The forecast indicates a bullish outlook for copper prices in the near term [1]

Core Viewpoint - The company's FY25 earnings fell below expectations, with a revenue of HKD 79.3 billion, a year-on-year decrease of 3%, and a net profit of HKD 3.25 billion, a year-on-year increase of 2% [1] Financial Performance - FY25 revenue was HKD 79.3 billion, down 3% year-on-year - FY25 net profit was HKD 3.25 billion, up 2% year-on-year, but below expectations - The decline in performance was primarily due to underperformance in joint venture earnings, which fell 37% year-on-year to HKD 441 million, and a 31% increase in income tax expenses to HKD 993 million due to reduced tax refunds [1] - The company plans to distribute a final dividend of HKD 0.35 per share, maintaining the same level as the previous year, with a total annual dividend of HKD 0.50 per share [1] Sales and Margins - FY25 urban gas sales were 23.52 billion cubic meters, remaining stable year-on-year - Residential gas sales decreased by 2.1%, while commercial and industrial gas sales increased by 3.7% and 1.0%, respectively - The gross margin was HKD 0.537 per cubic meter, an increase of HKD 0.036 year-on-year - The company added 1.4 million residential connections, a decrease of 16.5% year-on-year [1] Cash Flow and Investments - FY25 investment cash outflow was HKD 1.78 billion, down 74.8% year-on-year, mainly due to the recovery of loans from joint ventures and a reduction in capital expenditures by approximately HKD 1.4 billion [1] Future Outlook - The trend of improving gross margins is expected to continue until FY27 - For FY26, the company anticipates a 2% year-on-year increase in urban gas sales and a gross margin of HKD 0.55 per cubic meter, driven by an increase in residential pricing ratios [1] Debt and Financial Management - As of the end of FY25, the company's net debt (excluding trade-related financing) was approximately HKD 47.8 billion, showing a slight decrease from FY24 - The company is expected to maintain control over capital expenditures, indicating that the debt level has likely peaked [2] - FY25 saw an increase in receivables provision of HKD 568 million, with ongoing pressure expected in FY26 due to uncertainties in the real estate sector [2] Dividend and Valuation - The company maintained a dividend payout ratio of 83.3% in 2024, with expectations for stable dividends of HKD 0.50 per share over the next 2-3 years, translating to a dividend yield of approximately 6.8% based on the closing price on June 27 [2] - Earnings forecasts for FY26 have been revised down by 32% to HKD 3.285 billion, with FY27 earnings projected at HKD 3.449 billion [2] - The current stock price corresponds to a P/E ratio of 12.2x for FY26 and 11.6x for FY27, with a target price adjustment of 9.1% down to HKD 8, indicating an upside potential of 8.8% [2]

Group 1 - The Bank of Japan's Tankan survey indicates that major Japanese companies expect the average exchange rate of USD/JPY to be 145.72 for the fiscal year 2025/26 [1]

2003年，科学家首次对人类基因组进行测序，揭示了构成我们生命"蓝图"的全部DNA序列。尽管98%的 基因组不直接编码蛋白质，它们仍深刻影响着基因的调控和细胞功能。这些非编码区域曾被视为"垃圾 DNA"，但如今被认为可能蕴藏着重要的生物学秘密，就像是基因界的"暗物质"。 今年6月25日，"深度思维"公司宣布，他们开发出一款名为AlphaGenome（阿尔法基因组）的人工智能 （AI）模型，有望在破译这一"暗物质"上取得突破。《自然》杂志报道称，这一"从序列到功能"的模型 能预测DNA中微小变化会对一系列分子过程产生的影响，为解码人类基因调控机制提供了新路径。 解释DNA序列的"一体化"工具 深度思维公司在2020年推出的"阿尔法折叠2"（AlphaFold 2），成功破解了一个困扰科学界数十年的难 题：如何根据蛋白质的氨基酸序列，准确预测其三维结构。这一突破不仅改变了结构生物学研究方式， 也推动了新药研发的进程。 相比之下，要理解DNA序列的功能则更加复杂，因为它不像蛋白质那样拥有一个确定的"正确答案"。 这些功能主要体现在DNA对基因表达的调控上，比如决定基因什么时候开启或关闭，在哪些细胞中发 挥作用，以及 ...

TSMC (TSM) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earnings picture is ...

Upbound Group (UPBD) closed the last trading session at $25.48, gaining 11.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $36.63 indicates a 43.8% upside potential.The average comprises eight short-term price targets ranging from a low of $26.00 to a high of $50.00, with a standard deviation of $8.07. While the lowest estimate indicates an increase of 2% from the current price ...

Shares of VNET Group (VNET) have gained 30.7% over the past four weeks to close the last trading session at $6.98, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $12.29 indicates a potential upside of 76.1%.The mean estimate comprises eight short-term price targets with a standard deviation of $5.54. While the lowest estimate of $5.00 indicates a 28.4% decline from the current ...

Core Viewpoint - QXO, Inc. has seen a 21.9% increase in share price over the past four weeks, closing at $20.73, with analysts suggesting a potential upside of 65.6% based on a mean price target of $34.33 [1][11]. Price Targets and Analyst Estimates - The mean price target consists of three short-term estimates with a standard deviation of $8.74, indicating variability among analysts. The lowest estimate is $27.00 (30.3% increase), while the highest is $44.00 (112.3% increase) [2][9]. - Analysts' price targets can often mislead investors, as empirical research shows that they rarely indicate actual stock price movements [7][10]. - A low standard deviation in price targets suggests a strong agreement among analysts regarding the stock's price direction, which can serve as a starting point for further research [9]. Earnings Estimates and Analyst Sentiment - There is growing optimism among analysts regarding QXO's earnings prospects, supported by a strong consensus in revising EPS estimates higher, which correlates with potential stock price increases [11][12]. - Over the past 30 days, one estimate has increased with no negative revisions, leading to a 425% increase in the Zacks Consensus Estimate for the current year [12]. - QXO holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [13]. Conclusion on Price Movement - While the consensus price target may not be a reliable measure of QXO's potential gains, the implied direction of price movement appears to be a useful guide for investors [14].

Group 1 - Elastic (ESTC) closed at $82.69, with a 2.3% gain over the past four weeks, and a mean price target of $112.17 suggests a 35.7% upside potential [1] - The average of 24 short-term price targets ranges from a low of $75.00 to a high of $148.00, with a standard deviation of $15.45, indicating variability among analysts [2] - Analysts show strong agreement in revising EPS estimates higher, which correlates with potential stock price movements [11] Group 2 - The Zacks Consensus Estimate for the current year has increased by 68.8% over the past month, with nine estimates going higher and two lower [12] - ESTC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While consensus price targets may not be reliable for predicting gains, they can indicate the direction of price movement [14]