Group 1: Shell (SHEL) - Scotiabank maintains a "Buy" rating for Shell with a price target of $80.00, which was raised from $70.00 on July 11, 2025 [1][2] - The "Outperform" rating reflects Scotiabank's confidence in Shell's performance potential [1] - The price target has been consistently maintained since the update on August 1, 2025 [1] Group 2: TotalEnergies SE (TTE) - Scotiabank reiterates a "Hold" rating for TotalEnergies with a price target of $65.00, raised from $60.00 on July 11, 2025 [3][4] - The "Sector Perform" rating indicates expectations for TotalEnergies to perform in line with industry peers [3] - TotalEnergies has a market capitalization of approximately $151.63 billion, highlighting its significant presence in the energy sector [4] Group 3: Market Dynamics - The adjustments for Shell and TotalEnergies are part of Scotiabank's broader review of price targets across the U.S. Integrated Oil, Refining, and Large Cap Exploration and Production sector [2][7] - Scotiabank's evaluations reflect ongoing assessments of market conditions and sector dynamics affecting major energy players [4][7]

Government Shutdown and Federal Employment - The U.S. government is on the verge of a shutdown, with over 100,000 federal workers expected to resign, marking the largest single-year decline in civilian federal employment since World War II [2][3] - The Department of Health and Human Services (HHS) could furlough 41% of its 79,717 employees, impacting critical public health functions [3] - The Centers for Disease Control and Prevention (CDC) may furlough 64% of its staff, while the National Institutes of Health (NIH) could furlough over 75% of its workforce, halting essential research and patient admissions [3] China's Economic Situation - China's manufacturing sector is facing ongoing challenges, with the Purchasing Managers' Index (PMI) at 49.4, indicating contraction for the fifth consecutive month [5] - Weak domestic demand, a struggling property sector, and trade deal uncertainties with the U.S. are contributing to this economic downturn [5] - Iron ore futures have dropped by 2.6% to $125.95 per metric ton, reflecting reduced manufacturing and infrastructure investment, although some analysts expect a quarterly gain due to seasonal demand [6] Analyst Adjustments for Companies - J.P. Morgan has raised its price target for A.P. Moller – Maersk (AMKBY) to DKK 8,900 from DKK 8,450, indicating a positive outlook for the shipping sector [7][8] - Conversely, J.P. Morgan has cut its price target for TotalEnergies SE (TTE) to €58.5 from €61, reflecting a more cautious outlook for the energy sector [8] International Political Developments - Venezuelan President Nicolás Maduro is considering an emergency declaration in response to perceived U.S. hostility, citing recent naval deployments and strikes in the Caribbean [9]

Group 1 - CarMax Inc reported second-quarter earnings per share of 64 cents, missing the analyst consensus estimate of $1.09 [1] - Quarterly sales were $6.594 billion, down 6% year over year, and also missed the expected $7.024 billion [1] - The company purchased a total of 293,000 vehicles in the second quarter, a 2.4% decrease from the previous year [1] Group 2 - CEO Bill Nash expressed confidence in the long-term strategy and earnings model despite the challenging quarter [2] - Following the earnings announcement, CarMax shares fell 0.4% to $45.41 [2] Group 3 - Needham analyst Chris Pierce maintained a Buy rating but lowered the price target from $92 to $60 [4] - Evercore ISI Group analyst Michael Montani downgraded CarMax from Outperform to In-Line, cutting the price target from $80 to $52 [4] - Baird analyst Craig Kennison maintained an Outperform rating and lowered the price target from $90 to $60 [4] - RBC Capital analyst Steven Shemesh maintained an Outperform rating and reduced the price target from $81 to $59 [4] - Truist Securities analyst Scot Ciccarelli maintained a Hold rating and lowered the price target from $74 to $47 [4]

Core Viewpoint - Evercore ISI has reduced the price target for JBG Smith (JBGS) from $20 to $19, maintaining an Underperform rating on the shares, following adjustments made after a recent REIT conference [1] Summary by Category Price Target Adjustment - The price target for JBG Smith (JBGS) has been lowered to $19 from $20 [1] Rating - Evercore ISI continues to hold an Underperform rating on JBG Smith (JBGS) shares [1] Market Insights - The adjustments in the model were influenced by insights gained from company meetings and broader market conditions discussed at the recent REIT conference [1]

Group 1 - The core viewpoint of the article is that Bank of America Global Research has raised the price target for Alphabet, Google's parent company, from $210 to $217 [1] Group 2 - The adjustment in the price target reflects a positive outlook on Alphabet's performance [1]