Piper Sandler将花旗集团的目标价从120美元上调至130美元，维持"增持"评级。另外，该行将花旗2025 年的每股收益预期从7.6美元下调至7.2美元，将2026年的每股收益预期从9.93美元下调至9.83美元。该行 还警告称，美国或全球经济活动长期放缓、信贷质量下降和资本市场交易量低于预期将带来风险。 ...

耐克指引第三财季收入将录得低单位数跌幅，美银证券预计Nike北美业务将增长2%，预期该公司北美 业务重心正重新转至批发，春季及夏季的批发订单亦正在逐步改善。该行估计中国市场在2026财年将仅 占销售额的13%，较高峰期显著下降，相信在2026财年剩余时间中国业务仍将持续面临销售及利润率压 力。 美银证券发表研报，重申对耐克的"买入"评级，指出第二财季业绩显示北美市场及跑步品类表现向好， 但部分被中国业务疲弱所抵销，毛利率指引未及该行预期的改善幅度。虽然该行目前对中国业务转型需 时较长感到失望，但认为其他市场已出现改善迹象，相应将2026及2027财年每股盈利预测下调至1.39及 2.40美元，目标价由84美元下调至73美元，相当于2027财年预测市盈率约30倍。 ...

Group 1 - Jefferies has lowered the target price for the online gaming platform Roblox from $115 to $100 [1] - Jefferies has raised the target price for Reddit from $300 to $325 [1]

美银证券将新思科技的目标价从525美元下调至500美元，评级则从"跑输大市"上调至"中性"。(格隆汇) ...

Core Viewpoint - Citigroup has lowered the profit forecast for Shenzhou International for 2025 to 2027 by 2%, adjusting the target price from HKD 95 to HKD 94 while maintaining a "Buy" rating, suggesting that the recent stock price decline may reflect management's conservative sales outlook, which presents a buying opportunity due to an expected dividend yield of 4.8% in FY2026 and a projected annual compound growth rate of 12% in earnings per share over the next three years [1] Group 1 - Citigroup has revised its sales growth forecast for Shenzhou International's second half of the year from high single digits to mid-single digits, primarily due to nearly flat sales growth in the third quarter [1] - The two major brands are still in discussions with the group regarding tariff sharing [1] - Observations indicate that delivery volumes in October and November have accelerated to catch up with the lagging progress from the third quarter [1]

Core Viewpoint - Royal Bank of Canada (RBC) has raised the target price for LVMH from €575 to €650 [1] Company Summary - The adjustment in target price reflects RBC's positive outlook on LVMH's performance and market position [1]

高盛将Coinbase的目标价从368美元下调至314美元，维持"中性"评级。(格隆汇) ...

Core Viewpoint - Goldman Sachs has raised the target price for Minhua Holdings (01999) by 2% from HKD 4.7 to HKD 4.8, maintaining a "Neutral" investment rating [1] Financial Performance - Minhua's revenue for the first half of the year met expectations, while profits exceeded expectations [1] - For the fiscal year 2026, total revenue and net profit are projected to be HKD 8.045 billion and HKD 1.146 billion, representing a year-on-year decline of 3% and a growth of 1% respectively [1] - Compared to global figures, revenue and net profit are expected to show no growth and a 7% increase respectively [1] Business Segments - Minhua's overseas business growth continues to outpace domestic business growth [1] - Domestic business revenue has seen a reduced decline in quarterly comparisons, primarily due to the growth of online business and a lower base effect [1] Profitability - The profit margin exceeded expectations mainly due to favorable cost conditions, although this was partially offset by increased expenses [1] - Goldman Sachs has adjusted its earnings per share forecasts for Minhua for the fiscal years 2026 to 2028 upwards by 1-3% to reflect the latest performance [1]

Group 1 - TD Cowen has lowered the target price for Target from $110 to $105 [1] - TD Cowen has raised the target price for Walmart from $115 to $120 [1]

Core Viewpoint - UBS has downgraded Uni-President China (00220) earnings per share estimates for 2025 to 2027 by 1% to 3%, and reduced the target price from HKD 11.5 to HKD 10.5 while maintaining a "Buy" rating [1] Financial Performance - Uni-President's net profit for the first three quarters increased by 23% year-on-year, indicating a third-quarter net profit rise of 8% to RMB 726 million, aligning with UBS and market expectations [1] - The company aims for a revenue growth target of 6% to 8% for the year [1] Management Strategy - To address intensified competition in the beverage sector, the management plans to maintain stable pricing and focus on expanding well-performing sales points [1] - UBS believes that both Uni-President's performance and management outlook are in line with expectations, although the recent sluggish trend in the beverage business poses greater pressure and uncertainty for the company [1]