Financial News

Bernstein Initiates Sabic Coverage at Market Perform

Bernstein on Wednesday started its coverage of petrochemicals manufacturer Saudi Basic Industries (SASE:2010), d/b/a Sabic, with a market perform rating and a price target of 67.80 Saudi riyals.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Nordea Bank Upgrades DNB Bank to Buy Rating

Nordea Bank on Thursday upgraded Norwegian lender DNB Bank (DNB.OL) to buy from a hold rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

February US PCE Price Index Rise 0.4% Vs. Expected 0.4% Gain, Prior 0.3% Gain

Rothschild & Co Redburn Upgrades Eni to Buy, Boosts PT

Rothschild & Co Redburn on Thursday upgraded Italian energy company Eni (ENI.MI) to buy from neutral and raised its price target to 27.20 euros from 19.20 euros.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

AlphaMena Downgrades Emirates NBD to Add, Lifts PT

AlphaMena on Thursday downgraded Dubai-listed lender Emirates NBD (DFM:EMIRATESNBD) to add from buy and increased its price target to 36.60 Emirati dirhams from 36.40 dirhams.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

AlphaMena Downgrades Union Properties to Reduce, Lifts PT

AlphaMena on Thursday lowered Dubai-based property developer Union Properties (DFM:UPP) to reduce from add and increased its price target to 0.81 Emirati dirham from 0.80 dirham.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Bernstein Begins Arabian Drilling's Coverage with Outperform Rating

Bernstein on Wednesday began its coverage of oilfield services company Arabian Drilling Co. (SASE:2381) with an outperform rating and a price target of 109.30 Saudi riyals.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Morgan Stanley Trims Luberef PT, Maintains Overweight Rating

Morgan Stanley on Wednesday decreased the price target for base oil producer Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, to 128.50 Saudi riyals from 130 riyals, while affirming its overweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

February US Real Personal Spending Rises 0.1% Vs. Expected 0.2% Gain, Prior Flat

Oddo BHF Begins Bucher Industries Coverage at Neutral

Oddo BHF on Thursday initiated its coverage of Swiss machinery industry company Bucher Industries (BUCN.SW) with a neutral rating and a price target of 365 francs.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Deutsche Bank Kicks Off Swiss Prime Site's Coverage at Hold

Deutsche Bank on Thursday started its coverage of Swiss real estate company Swiss Prime Site (SPSN.SW) with a hold rating and a price target of 125.00 francs.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Citi Upgrades Deutsche Bank to Neutral Rating, Trims PT

Citi on Thursday raised German lender Deutsche Bank (DBK.F) to neutral from sell, while decreasing its price target to 29 euros from 30.30 euros.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

February US Personal Spending Rises 0.5% Vs. Expected 0.6% Gain, Prior 0.3% Gain

OP Corporate Bank Upgrades Hiab to Accumulate, Lifts PT

OP Corporate Bank on Thursday upgraded cargo handling machinery company Hiab (HIAB.HE) to accumulate from reduce and raised its price target to 48.00 euros from 47.00 euros.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

February US Personal Income Falls 0.1% Vs. Expected 0.3% Gain, Prior 0.4% Increase

Q4 US GDP Revised Down to 0.5% Gain Vs. 0.7% Previous Gain, 0.7% Increase Expected

RBC Adjusts Price Target On Three Canadian Telecoms

RBC Capital Markets adjusted its price target on three Canadian telecom companies Thursday.Analyst Drew McReynolds raised his target on Cogeco Communications Inc. (CCA.TO) to $77 from $76 (Sector Perform) and Quebecor Inc. (QBR-B.TO) to $60 from $57 (Sector Perform), and reduced his target on TELUS Corp. (T.TO) to $22 from $23 (Outperform).McReynolds maintained his $39 target and Outperform rating on BCE Inc. (BCE.TO), and $61 target and Outperform rating on Rogers Communications Inc. (RCI-B.TO)."As Canadian telecom investors stare at another transition-like year in 2026, we believe the relative winners will be the operators that exceed expectations with respect to the controllables - execution on new revenues, EBITDA/FCF margin expansion and balance sheet/crystallization initiatives," the analyst said in a note to clients.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Canaccord Genuity Downgrades TELUS to Hold From Buy, Cuts Price Target to CA$17.50 From CA$21

TELUS (TU) has an average rating of overweight and mean price target of CA$20.16, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

PyroGenesis Canada Announces Contract Toward Titanium Powder Supply And Distribution Agreement With Asian Materials Co

PyroGenesis Canada (PYR.TO), which saw its shares drop more than 9% yesterday, said Thursday it has sealed a deal to supply titanium powder to an unnamed company in Asia that manufactures electronic components. The powder will be delivered over the next few weeks.The contract announced today will allow the client, a materials company supplying the Asian electronics market (specifically cell phone parts), to perform final testing and analysis of titanium powder Ti64 produced by PyroGenesis' NexGen system, across three different particle sizes. Once this process is complete, and assuming all regulatory and trade agreements are certified, the client will require "multiple" tonnes of PyroGenesis' titanium powder per year. Final volumes are to be determined over the next few weeks, a statement said.Separately, the client is negotiating to be the official supplier of PyroGenesis' titanium powder to the Asian electronics, medical, and aerospace industries."High-quality titanium powder for additive manufacturing is growing rapidly and is increasingly being adopted across industries such as electronics, where it is enabling the development of high-end, complex, and lightweight devices with enhanced performance and design flexibility," said chief executive Peter Pascali "Our NexGen titanium powder has now reached this level of performance, enabling it to serve a wide range of industries, including electronics, where advanced material properties are increasingly critical. We are hopeful that the contract announced today leads to both entry into that market and a long-term distribution agreement with our client."PyroGenesis shares closed down $0.045, to $0.445, on the Toronto Stock Exchange on Wednesday.

Goldman Sachs Downgrades Kosmos Energy to Sell From Neutral, Price Target is $2.25

Kosmos Energy (KOS) has an average rating of overweight and mean price target of $2.81, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)