摩根士丹利发布研究报告，鉴于港交所超预期的第二季度业绩及强劲的日均成交量(ADV)，将今年ADV 预测略微上调至2300亿港元，但2026年和2027年的ADV预测保持不变。同时，摩根士丹利上调了港交 所2025年至2027年的每股盈利预测，并维持"增持"评级，目标价从股500港元上调至508港元。 ...

Core Viewpoint - Citigroup's report indicates that China CNR's profit for the second quarter of this year increased by 31% year-on-year to 4.19 billion yuan, exceeding the preliminary midpoint by 3% [1] Group 1: Financial Performance - China CNR's Q2 profit growth of 31% to 4.19 billion yuan reflects strong operational performance [1] - The company has adjusted its profit forecasts for 2025 and 2026 upwards by 9% and 10% respectively, based on better-than-expected performance in the first half and optimistic outlook for the second half [1] Group 2: Market Opportunities - The recent tender for 210 high-speed train sets by China State Railway Group (CSRG) has led to an increase in the total tender for train sets from 2025 onwards (278 sets), which is approximately 14% higher than the total for 2024 (245 sets) [1] Group 3: Investment Rating - Citigroup has raised the target price for China CNR from 5.4 HKD to 7.3 HKD and upgraded the rating from "Neutral" to "Buy" [1]

智通财经APP获悉，瑞银发布研报称，中银航空租赁(02588)上半年净利润录3.42亿美元，大致符合市场 预期，但略胜于瑞银预测。该行相信，市场或对公司收入增长重新加快和稳固的核心利润增长作出正面 反应。瑞银微升中银航空租赁2025至27年各年盈测1%至2%，主要是反映中期业绩略胜于预期。该行预 计集团今年核心利润增长11%，而2024至27年的年复合增长率预料为16%。该行又将公司目标价由85港 元上调至86.5港元，重申"买入"评级。 ...

摩根大通：将富途控股(FUTU.US)目标价从185美元上调至200美元。 本文源自：金融界AI电报 ...

花旗发表报告，更新对港交所模型，以计入2025年第二季业绩及7月的市场成交量。考虑到第二季的投 资收益超出预期，以及日均成交假设上调1至2%，该行将2025至2027财年的每股盈利预测上调3%。随 着盈利变动，该行将港交所目标价由490港元上调至500港元。由于香港日均成交额强劲(本季以来为 2580亿港元，相对去年第二季的2380亿港元)，加上2025财年市盈率34倍的合理估值，维持"买入"评 级。 ...

Group 1 - KeyBanc raised the target price for Nvidia from $190 to $215 [1]

Group 1 - Morgan Stanley has raised the target price for Cisco (CSCO.US) from $78 to $80 [1]

Core Viewpoint - Morgan Stanley has raised its earnings per share forecasts for Swire Properties for the fiscal years 2025 to 2027 by 11%, 1%, and 2% respectively, reflecting the latest half-year performance and expectations for commercial property leasing and sales [1] Group 1: Earnings and Dividends - The full-year dividend forecast for 2025 to 2027 has been increased by 0.2%, indicating annual growth rates of 4.7%, 4.5%, and 4.5% during this period [1] Group 2: Market Outlook - Morgan Stanley maintains a cautious outlook on the Hong Kong office market due to oversupply and declining demand, which continues to exert negative pressure [1] - Despite the challenging environment, Swire Properties' recurring income from new commercial properties in mainland China, capital recovery measures, and a strong balance sheet are expected to withstand downward pressures [1] Group 3: Price Target and Rating - The target price for Swire Properties has been raised from HKD 18 to HKD 20, while maintaining a "Market Perform" rating [1]

Group 1 - Susquehanna raised Dell Technologies' target price from $105 to $120 [1]

Group 1 - The core viewpoint of the report is that WH Group (万洲国际) has slightly exceeded expectations in its Q2 performance, with operating profit increasing by 3% year-on-year and adjusted operating profit rising by 19% [1] - The interim dividend has doubled to 20 HK cents, and the company maintains a payout ratio of at least 50% [1] - Bank of America has raised its earnings per share estimates for WH Group by 3% for the next two years and increased the target price by 4% to 8.5 HKD, reaffirming a "Buy" rating, citing a positive outlook for the second half of the year and a high single-digit dividend yield [1] Group 2 - WH Group's market capitalization in Hong Kong is 102.513 billion HKD, ranking first in the food processing industry [2] - Key performance indicators for WH Group compared to the industry average include: - ROE: 15.68% vs. -0.2% (ranked 4th) - Revenue: 259.41 billion HKD vs. 72.32 billion HKD (ranked 3rd) - Net profit margin: 7.14% vs. -10.31% (ranked 9th) - Gross profit margin: 20.05% vs. 31.0% (ranked 32nd) - Debt ratio: 42.74% vs. 58.11% (ranked 24th) [2]