JPMorgan on Monday raised its rating on German systems and components supplier GEA Group (G1A.F) to neutral from underweight and increased its price target to 60.00 euros from 58.20 euros.
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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Sea Limited's (Sea) Q1 2026 EPADS of USD0.67 (+3.1% Y/Y) met our expectation. Total revenue grew 47% Y/Y, driven by strong momentum across all core segments. While the adjusted EBITDA margin eased 5ppt Y/Y amid continued investments across Shopee and Monee, overall adjusted EBITDA still increased 9% Y/Y. Shopee's revenue rose 45% Y/Y, accelerating from Q4 2025's 36% growth, supported by GMV growth of 30% Y/Y and improved monetization, with transaction-based fees and advertising revenue up 61% Y/Y. Shopee's adjusted EBITDA declined 16% Y/Y due to investments in logistics and user experience. Management reiterated confidence in achieving around 25% GMV growth in 2026 while maintaining Shopee's adjusted EBITDA at no lower than 2025 levels. Monee's revenue grew 58% Y/Y, supported by 71% growth in loans outstanding, while asset quality remained stable with the NPL ratio steady Q/Q at 1.1%. Garena's revenue and bookings increased 41% and 20% Y/Y, respectively, while adjusted EBITDA rose 25% Y/Y.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:On Holding reported net sales of CHF831.9M vs. CHF727M, CHF10M above estimates, marking 14.5% reported growth (26.4% constant currency). Adjusted EPS surged 68.2% to CHF0.37 vs. CHF0.22 in the prior year and CHF0.10 above consensus, while gross margin expanded 430 bps to 64.2% despite U.S. tariff headwinds. We view the post-earnings share weakness as a buying opportunity and believe On remains the top name in footwear given its execution and brand strength. The company raised full-year gross margin guidance to at least 64.5% while reiterating constant currency growth of at least 23%. Geographic performance was broad-based, led by Asia-Pacific's 44.4% growth, while both DTC and Wholesale channels showed healthy momentum. The continued margin expansion demonstrates On's pricing power and operational leverage, with apparel emerging as a key growth driver at 45.1% growth. We expect the company to maintain its premium positioning while expanding globally under its new co-CEO leadership structure.