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BofA Upbeat on Adnoc Drilling Amid Potential Oil Production Boost in UAE; Price Objective Nudged Higher

BofA Global Research is optimistic on Adnoc Drilling (ADX:ADNOCDRILL) amid the United Arab Emirates' plans to boost its oil production capacity over the medium term."ADNOC Drilling delivered another inline quarter and reiterated its 2026E guidance despite ongoing regional conflict. However, the earnings call was dominated by questions around the company's medium-term growth outlook, particularly if UAE increases its oil production capacity to 6mb/d. While management refrained from providing explicit targets, we believe such a scenario is likely to be incorporated into 2027-31 business plan," analysts said Tuesday. "In parallel, the second phase of the unconventional is also likely to be announced in the coming months, given that progress on Phase 1 is ahead of schedule and key project risks have largely been de-risked."As such, the price objective was bumped up to 6.90 Emirati dirhams from 6.80 dirhams, with an unchanged buy rating on the stock.In terms of earnings forecasts, the research firm raised its projected EPS for the drilling company by 3% for 2026, 5% for 2027 and 4% for 2028. Sales and EBITDA estimates over the three-year period were also upwardly adjusted.

ADX:ADNOCDRILL

International53d ago

India's Retail Inflation Picks Up in April

India's retail inflation edged up in April, with the Consumer Price Index (CPI) rising 3.48% in April, up from 3.40% in March, according to data released by the Ministry of Statistics and Program Implementation on Tuesday.Rural and urban inflation stood at 3.74% and 3.16%, respectively, in April.Food inflation, measured by the Consumer Food Price Index, climbed to 4.20% in April from 3.87% in March. Rural food inflation was recorded at 4.26%, while urban food inflation came in at 4.10%.Housing inflation for April was provisionally at 2.15%, with rural housing inflation at 2.65% and urban at 1.96%, data showed.

^BSENifty 50

Research53d ago

Benchmark Initiates MiniMed Group at Buy

MiniMed Group, Inc. (MMED) has an average rating of buy and mean price target of $22.25, 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)

$MMED

Research53d ago

Guggenheim Initiates Coverage on Enliven Therapeutics With Buy, $80 Price Target

Enliven Therapeutics (ELVN) has an average rating of Buy and mean price target of $56.78, 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)

$ELVN

Research53d ago

Stephens Initiates Coverage on Palvella Therapeutics With Overweight Rating, $220 Price Target

$PVLA

Research53d ago

Stifel Downgrades ZoomInfo to Hold From Buy, Adjusts Price Target to $4 From $12

ZoomInfo (GTM) has an average rating of hold and mean price target of $6.82, 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)

$GTM

Research53d ago

Canaccord Genuity Downgrades ZoomInfo to Hold From Buy, Adjusts Price Target to $5 From $12

$GTM

Research53d ago

Benchmark Initiates Tandem Diabetes Care at Hold

Tandem Diabetes Care (TNDM) has an average rating of overweight and mean price target of $31.30, 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)

$TNDM

Research53d ago

Piper Sandler Downgrades ZoomInfo to Underweight From Neutral, Adjusts Price Target to $4 From $7

$GTM

Research53d ago

Rosenblatt Securities Downgrades Emerald to Neutral From Buy, Adjusts PT to $5.03 From $7.70

Emerald Holding (EEX) has an average rating of Hold and mean price target of $5.03, 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)

$EEX

Research53d ago

Raymond James Downgrades Gitlab to Market Perform From Outperform

Gitlab (GTLB) has an average rating of Hold and mean price target of $30.63, 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)

$GTLB

Asia Markets53d ago

Abu Dhabi, Dubai Shares End Lower as Corporate Earnings Remain in Focus

Stocks in the United Arab Emirates ended lower as investors dissected the latest earnings reports from the region to assess the impact of ongoing geopolitical tensions on the companies' profits.At the close of Tuesday trading, the FTSE ADX General Index lost 0.905%, while the DFM General Index shed 0.641%.Adnoc Gas (ADX:ADNOCGAS), Lulu Retail (ADX:LULU), and Abu Dhabi Aviation (ADX:ADAVIATION) all recorded lower first-quarter attributable profits. Stocks of Adnoc Gas and Lulu Retail closed the session 2.96% and 3.30% in the red, respectively, while Abu Dhabi Aviation gained 0.58%.Over to Dubai, Deyaar Development (DFM:DEYAAR) and Talabat's (DFM:TALABAT) attributable profits for the period also dropped year over year. Deyaar Development shed 1.10%, while Talabat lost 1% at the close of trading.Conversely, Dubai Electricity and Water Authority (DFM:DEWA), d/b/a Dewa, logged a higher attributable profit for the quarter and an 8.18% year-over-year growth in revenue. Its shares closed 2.96% in the green."DEWA delivered an exceptional start to 2026, achieving its highest-ever first-quarter revenue, EBITDA, operating profit and net profit. Consolidated net profit for the first quarter increased by nearly 90% compared with the same period last year, while clean energy accounted for 18.5% of total power generated during the quarter. We had a record quarterly revenue of AED 6.45 billion, EBITDA of AED 2.88 billion, operating profit of AED 1.29 billion and net profit of AED 0.94 billion," Dewa's Chief Executive Officer Saeed Mohammed Al Tayer commented.Across the pond, US President Donald Trump is set to meet his Chinese counterpart, Xi Jinping, this week. The two leaders are expected to discuss tensions over Iran, Taiwan, nuclear weapons, and artificial intelligence."President Trump warned the ceasefire with Iran is 'on life support' after Tehran's counterproposal. Brent crude is trading around USD105/bbl this morning, extending gains from yesterday's session. Trump is reportedly meeting his national security team to consider next steps, including a possible resumption of military action and a renewed naval mission in the Strait of Hormuz. The conflict is also likely to be on the agenda when he meets President Xi Jinping this week," Danske Bank said.

^DFMGI^FADGIADX:ADAVIATIONADX:ADNOCGASADX:LULUDFM:DEWADFM:DEYAARDFM:TALABAT

Asia53d ago

JD Health International's Profit Jumps 78% in Q1; Share Buyback Proposed

JD Health International (HKG:6618) recorded a 78% rise in attributable profit in the first quarter of 2026 to 1.66 billion yuan from 934.4 million yuan a year prior, according to a Tuesday Hong Kong bourse filing.The online healthcare platform's revenue for the three months jumped 17% to 19.5 billion yuan from 16.6 billion yuan in the prior-year period.The firm is also planning to buy back up to $1 billion of shares from the open market over 48 months, pending approval, according to a separate stock exchange filing.

HKG:6618

Mining & Metals53d ago

George Weston Q1 Adjusted Earnings, Revenue, Advance

George Weston's (WN.TO) first quarter adjusted earnings and revenue were both higher, the company said on Tuesday.The company, which operates through its two reportable operating segments: Loblaw (L.TO) and Choice Properties (CHP-UN.TO), said adjusted earnings, which excludes most one-time items, increased 2.9% to $349 million, or $0.91 per adjusted diluted share, from $339 million, or $0.86 per diluted share, in the previous corresponding quarter. The result was below the consensus analyst estimate of $0.98 per share, according to FactSet.Revenue advanced 4.2% to $14.64 billion, a tad under the $14.65 billion forecast.The company will pay a quarterly dividend of $0.32 per share on July 1, to shareholders of record on June 15.George Weston shares closed down $1.67, to $94.02 on Monday on the Toronto Stock Exchange.

$WN.TO

Mining & Metals53d ago

Lithium Argentina Up 0.8% In US Premarket As Swings to Q1 Profit

Lithium Argentina (LAR.TO) was at last look up 0.8% in US premarket trade after it swung Tuesday to a profit year over year in the first quarter, and even though that missed expectations the company said "with improving market conditions and a proven operating platform, we believe we are one of the strongest positioned producers to add low-cost production capacity".The miner booked a net income of US$7.5 million, or $0.05 per share basic and diluted, in the three months ended March 31, reversing a net loss of $7.2 million, or a loss of $0.04 per share, recorded a year ago.Analysts expected Lithium Argentina to post earnings of $0.13 per share, according a consensus estimate compiled by FactSet.The change was primarily driven by a $22.1 million share of income from the Cauchari-Olaroz Project, compared to a $0.5 million share of loss in Q1 2025, reflecting improved operating results at Exar due to higher realized lithium carbonate, the company said.CEO Sam Pigott said: "Cauchari-Olaroz continues to deliver exceptional performance, sustaining production near design capacity for a second consecutive quarter while delivering first-quarter cash operating costs below $5,400 per tonne. This operational consistency is translating directly into cash flow, with the operation expected to convert over 90% of first-quarter EBITDA into cash in 2026."Building on this foundation, the Stage 2 expansion at Cauchari-Olaroz is progressing well, and we intend to grow organically by leveraging Stage 1 cash flow alongside project-level debt, as necessary. Following strong performance in recent quarters, Cauchari-Olaroz has distributed approximately $100 million ($46 million for our share) since the beginning of the year. At PPG, we continue to see strong interest from strategic partners and customers, leveraging the combined efforts of Ganfeng and Lithium Argentina to support the project's equity requirements, positioning us to grow without the need to dilute shareholders at the corporate level."With improving market conditions and a proven operating platform, we believe we are one of the strongest positioned producers to add low-cost production capacity. We have a pipeline that we believe can support growth of four to five times what we have built to date. Importantly, we believe this can be achieved in a disciplined, phased development approach funded through project-level options and operating cash flow, ultimately delivering the strongest possible return to our shareholders."Shares in LAR rose about 1% in Canada and the U.S. yesterday.

$LAR.TO

Research53d ago

Stifel Downgrades United Parks & Resorts to Hold From Buy, Adjusts Price Target to $40 From $43

United Parks & Resorts (PRKS) has an average rating of overweight and mean price target of $43.82, 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)

$PRKS

Asia53d ago

Resona's Profit Climbs 21% in Fiscal Year 2025

Resona's (TYO:8308) net income attributable to owners of the parent rose 21% to 258.7 billion yen in the fiscal year 2025 from 213.3 billion yen a year earlier.The bank holding company's net income per share increased to 113.81 yen from 92.39 yen a year ago, according to a Tokyo bourse filing on Tuesday.Ordinary income jumped 22% to 1.375 trillion yen from 1.117 trillion yen in the prior year.Resona declared a final dividend of 14.50 yen per share, payable from June 9.For fiscal year 2026, the company expects attributable net income of 310 billion yen and net income per share of 137.60 yen.Resona plans to pay interim and year-end dividends of 18.50 yen per share each for the year, higher than the amount paid in the year-ago period.

TYO:8308

Research53d ago

Rothschild & Co Redburn Downgrades Toast to Neutral From Buy, Adjusts Price Target to $35 From $47

Toast (TOST) has an average rating of overweight and mean price target of $34, 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)

$TOST

Research53d ago

Jefferies Downgrades Accuray to Hold From Buy, Adjusts Price Target to $0.35 From $3.50

Accuray (ARAY) has an average rating of Hold and mean price target of $0.35, 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)

$ARAY

Sectors53d ago

Scotiabank Notes Markets Highlight Increase in Inflation Risk

Oil prices continue to rally and are back up to where they were last Wednesday before sliding in false anticipation of a United States-Iran deal, said Scotiabank.WTI and Brent are up by about US$3 to US$4/barrel early Tuesday, with Brent at almost US$108, noted the bank. Higher oil prices on Monday and Tuesday follow President Donald Trump's "ineloquent" dismissal of Iran's counteroffer as "a piece of garbage," while saying the ceasefire is "unbelievably weak" and on "massive life support."Bond yields are accordingly higher on a perceived increase in inflation risk, stated Scotiabank. United Kingdom's Gilts are underperforming with borderline double-digit basis point increases at the longer-end, while all other major markets are cheaper by single-digit moves, led by Europe.Gilts have inflation worries and political instability on the mind as Prime Minister Keir Starmer digs in against a rebellious cabinet that is stoking fear that a freer-spending leader could step in, added the bank.Stocks are broadly lower by up to 1% in Germany, it pointed out.The US dollar (USD) is generally firmer against major crosses, but with oil-driven currencies like Norway's krone (NOK) and Canadian dollar (CAD or loonie) outperforming others.Iran has countered with a take-it-or-leave-it posture and noted it was "ready to respond and to teach a lesson for any aggression."And so, with that as the backdrop, it only seems appropriate to talk inflation, according to Scotiabank.

$CAD$CXY$NOK$USD

Showing 29001-29020 of 50959

Mining & Metals53d ago

Lithium Argentina Up 0.8% In US Premarket As Swings to Q1 Profit

$LAR.TO