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UBS Lifts Price Target on Sonic Automotive to $109 From $90, Maintains Buy Rating

Sonic Automotive (SAH) has an average rating of overweight and mean price target of $85.73, 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://finwires.com/en/contact)Price: $96.86, Change: $+1.61, Percent Change: +1.68%

$SAH

Wire29d ago

UBS Raises Price Target on Western Midstream Partners to $48 From $45, Maintains Neutral Rating

Western Midstream Partners (WES) has an average rating of hold and mean price target of $45.50, 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://finwires.com/en/contact)Price: $45.24, Change: $+0.38, Percent Change: +0.85%

$WES

Wire29d ago

UBS Adjusts Price Target on Public Storage to $326 From $314, Maintains Neutral Rating

Public Storage (PSA) has an average rating of overweight and mean price target of $332.40, 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://finwires.com/en/contact)Price: $319.61, Change: $+0.16, Percent Change: +0.05%

$PSA

Wire29d ago

UBS Adjusts Price Target on Penske Automotive Group to $192 From $167, Maintains Neutral Rating

Penske Automotive Group (PAG) has an average rating of overweight and mean price target of $189.33, 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://finwires.com/en/contact)Price: $192.89, Change: $+1.29, Percent Change: +0.67%

$PAG

Wire29d ago

Cadiz Secures US Bureau of Land Management Permit for Pipeline Conversion

Cadiz (CDZI) said Friday the US Bureau of Land Management approved a right-of-way grant allowing the company to start converting its Northern Pipeline from natural gas to water transportation.The 220-mile pipeline will move water from the Mojave Groundwater Bank to communities within California's San Bernardino County, the company said.The authorization lasts for 50 years and supports the finalization of project funding with potential investors, it added.Price: $4.31, Change: $+0.32, Percent Change: +8.02%

$CDZI

Oil & Energy29d ago

EMEA Natural Gas Update: Futures Slide After Reports of Continuing US-Iran Talks

European natural gas futures were down on Friday, pulling back from their one-month high, amid continuing US-Iran negotiations, despite the recent military exchanges.The front-month Dutch TTF contract dropped 3.02% to 48.590 euros ($55.49) per megawatt hour, while the UK front-month NBP contract declined 3.17% to 117.000 British pence ($1.56) per therm. Dutch TTF and UK Gas were set to end the week up by 7.53% and 8.53%, respectively, according to TradingEconomics.On Thursday, the US said that it would continue to hold "technical" talks with Iran and remained committed to resolving the conflict, despite renewed hostilities between the two sides along the Strait of Hormuz, according to a report by MS Now, citing a US official familiar with the matter.Even with the two sides exchanging strikes, the strategically crucial Strait of Hormuz, which accounted for one-fifth of global LNG flows, witnessed a slowdown in traffic, according to media reports.Meanwhile, Qatar, one of the world's largest LNG producers, paused its efforts to rapidly revive output after one of its tankers was struck earlier this week, according to a Bloomberg report, citing officials familiar with the matter.QatarEnergy also said that operations at its Ras Laffan Facility will be kept at a minimum, and even vessels scheduled to dock at the plant will be reduced, amid safety concerns due to the renewed hostilities in the region.Daniel Hynes, a senior commodity strategist at ANZ, warned that this could further tighten the global gas market, especially at a time when Europe needs to ramp up refilling of its depleted storage inventories.Gas inventories across the continent stood at just 51.10% of capacity, compared to 61.59% during the corresponding period a year ago, according to Gas Infrastructure Europe.They were also significantly below the five-year average for this period, at 66.3% of capacity, according to the Swiss Federal Office of Energy.Otar Dgebuadze, Vice President at JPMorgan, warned that current European gas prices were insufficient to compete for cargoes and outbid Asian buyers."We expect prices to go higher for a simple reason that Europe will need to outbid Asia, and we don't see it happening at the 45 euros ($51.40) price level," he said during the bank's LNG Speakers Series webinar on Thursday.All of this comes in the midst of another heatwave spreading through the Atlantic, with Portugal and Southern Spain expected to see temperatures soar past 43 degrees Celsius (109 degrees Fahrenheit), while France and the UK continue to swelter in record temperatures, as reported by.These factors are leading to increased space cooling demand, making it harder for the region to find sufficient gas supplies to refill inventory levels.

Wire29d ago

UBS Lifts Lithia Motors Price Target to $370 From $348, Maintains Buy Rating

Lithia Motors (LAD) has an average rating of overweight and mean price target of $366.53, according to analysts polled by FactSet.Price: $314.19, Change: $+2.01, Percent Change: +0.64%

$LAD

Wire29d ago

UBS Raises National Storage Affiliates Trust Price Target to $45 From $42, Maintains Neutral Rating

National Storage Affiliates Trust (NSA) has an average rating of hold and mean price target of $43.06, according to analysts polled by FactSet.Price: $44.63, Change: $-0.17, Percent Change: -0.38%

$NSA

Wire29d ago

UBS Adjusts Gitlab Price Target to $35 From $32, Maintains Neutral Rating

Gitlab (GTLB) has an average rating of hold and mean price target of $33.83, according to analysts polled by FactSet.Price: $34.50, Change: $+0.64, Percent Change: +1.89%

$GTLB

Mining & Metals29d ago

Natural Gas Drops to Six-Week Low as Inventories Remain Robust

Natural gas traded at a six-week low early on Friday, falling for a third day despite hot forecasts after a day-prior report showed a higher-than-expected rise in inventories last week.Gas for August delivery was last seen down $0.05 to $2.96 per million British thermal units, the lowest since May 26.Long-term forecasts from the National Weather Service expect nearly all states to see hotter than seasonal temperatures over its six to 14 day outlook, supporting cooling demand.In its weekly survey released on Thursday, the Energy Information Administration said stock of the fuel last week rose by 61 billion cubic feet, above expectations on forecaster NatGasWeather for a rise of up to 54-billion cubic feet. The report said inventories ended the week at 2.98 trillion cubic feet, 6.6% above the five-year average.

$NGQ6$UNG

Oil & Energy29d ago

EMEA Oil Update: Crude Headed For Weekly Gains as US-Iran Ceasefire Fractures

Oil futures were headed for week-over-week gains on Friday as US-Iran fighting flared, while prices stabilized after US President Donald Trump downplayed the threat of full-scale conflict and spared Iranian energy infrastructure from strikes.Brent crude futures edged up 0.2% to $76.44 per barrel, while Murban crude futures shed 0.3% to $71.19/bbl.Both contracts were headed for weekly gains of nearly 5.9% and 7% respectively.The initial upward momentum was triggered by a mid-week price spike following a flare-up in fighting between the US and Iran.ANZ analysts said "the market drew some reassurance from the Trump administration's decision to avoid targeting Iranian energy infrastructure. This was aided by comments from President Trump, who said he doesn't expect a return to a full-scale conflict."Despite the easing of immediate military fears, risks to oil logistics continue to keep the market on edge.Technical-level talks between Washington and Tehran are ongoing, but physical shipping traffic through the strategic Strait of Hormuz remains severely depressed, with analysts reporting an absence of large, commodity-laden vessels.Because roughly one-fifth of the world's global crude supply normally transits this narrow waterway, traders remain focused on the conflict's potential to trigger prolonged maritime disruptions and fuel ongoing price volatility."With oil prices softening following the mid-week spike, traders appear to view the latest tensions as a challenge to the ceasefire rather than a complete breakdown, as Trump's comments earlier in the week briefly led markets to fear," Saxo Bank analysts noted.

Commodities29d ago

Market Chatter: IEA Chief Calls on EU to End Ban on Oil, Gas Drilling in Arctic

International Energy Agency Executive Director Fatih Birol has called on the EU to reconsider its ban on drilling for oil and gas in the Arctic, underscoring that it could jeopardize Europe's energy security, Bloomberg reported on Friday.He told reporters on Thursday evening after meeting Norway's Finance Minister Jens Stoltenberg that "The world needs every drop of oil from Norway." and said the issue was of vital importance for European energy security.Norway, not an EU member, is calling for an end to the moratorium through a policy update that's likely to come later this year. The original ban was implemented in 2021, the article said.Critics say relaxing Arctic drilling rules will make no difference in the short term while the Iran war drags on and that such activity would endanger an ecosystem already under threat. Six unspecified institutional investors echoed that view, saying member states needed to be steadfast in their environmental commitments, the article said.has reached out to the IEA seeking comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Mining & Metals29d ago

Great Atlantic Resources Begins 2026 Exploration Program at Flume Ridge Claim

Great Atlantic Resources (GR.V) has begun a prospecting and rock geochemical sampling program at the Flume Ridge mineral claim, which is part of its southwest New Brunswick tin-tungsten project.The Flume Ridge mineral claim is one of seven mineral claims in southwest New Brunswick, and were acquired by Great Atlantic last year. Prospecting work is being concentrated on the southwest area of the claim, a statement said.At least 16 rock samples collected in 2020 in this part of the claim were reported to return tungsten values greater than 3,,000 parts per million, including two samples that were reported to return 13,000 ppm tungsten.

$GR.V

Sectors29d ago

Sector Update: Energy Stocks Advance Pre-Bell Friday

Energy stocks were advancing pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% higher.The United States Oil Fund (USO) was up 0.4% and the United States Natural Gas Fund (UNG) was 2.1% lower.Front-month US West Texas Intermediate crude oil was slightly higher at $72.09 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.3% to $76.53 per barrel, and natural gas futures were down 1.9% at $2.96 per 1 million British Thermal Units.Solaris Energy Infrastructure (SEI) will join the S&P SmallCap 600, replacing Catalyst Pharmaceuticals (CPRX), effective prior to the opening of trading next Wednesday, S&P Dow Jones Indices said. Solaris Energy Infrastructure stock was nearly 4% higher premarket.BW LPG (BWLP) shares were up more than 1% after the company said its BW LPG India subsidiary has agreed to sell BW Elm vessel to an unnamed buyer for cash proceeds of $64 million.

$BWLP$CPRX$SEI$UNG$USO$XLE

Mining & Metals29d ago

MAX Power Mining Mobilizes for Multi-Well Drill Program at Lawson Natural Hydrogen Complex

MAX Power Mining (MAXX.CN) is mobilizing a drilling rig early next week to the Lawson Natural Hydrogen Complex in south-central Saskatchewan to begin a multi-well commercial validation drill program, it said Friday.The drill program is expected to help in defining the "world's first large-scale commercial discovery of natural hydrogen," said the company.The drilling of the initial well is expected to reach the main targeted discovery area during the week of July 27, said Chief Executive Officer Ran Narayanasamy."The high-resolution 3D seismic survey completed in the spring has given us great confidence entering this commercial validation drill program at Lawson," said Chief Geoscientist Steve Halabura. "We have strong targets and impressive potential scale associated with this natural hydrogen system, given the 14.2 sq. km structural closure within the broader 28 sq. km complex."

$MAXX.CN

Sectors29d ago

Sector Update: Financial Stocks Rise Pre-Bell Friday

Financial stocks were rising pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.4% lower.Circle Internet Group (CRCL) received approval from the Office of the Comptroller of the Currency to establish First National Digital Currency Bank, which will operate under the name Circle National Trust. Circle Internet Group shares were up more than 12% premarket.JPMorgan Chase (JPM) has been testing results of an AI-model that allocates assets between stocks and bonds, Bloomberg reported. JPMorgan Chase stock was 0.8% higher pre-bell.Apollo Global Management (APO) has agreed to invest 3 billion euros ($3.4 billion) for a minority stake in a newly established entity holding Bayer's long-acting reversible contraceptives business, the companies said. Shares of Apollo Global Management were nearly 1% higher premarket.

$APO$CRCL$FAS$FAZ$JPM$XLF

Sectors29d ago

Gold Edges Down Early as Dollar and Yields Hold Steady

Gold prices eased early on Friday even as the dollar and yields were steady.Gold for August delivery was last seen down $28.00, or 0.7%, to $4,111.80 per ounce.The price of the metal has hovered above the $4,000 mark for the past two weeks, staying well under its Jan. 29 record high of $5,354.90 as the high oil prices that followed the US war on Iran boost inflation, raising concerns central banks will need to lift interest rates."Precious metals remain weighed down by renewed US rate-hike fears but are finding support from signs of demand returning following a month-long capitulation and correction phase," Saxo Bank noted,The dollar was steady early, with the ICE dollar index last seen down 0.02 points to 100.89. Treasury yields were also little changed, with the yield on the US two-year note last seen unchanged at 4.189%, while the 10-year note was paying 4.549%, little changed on the day.

$GCQ6$GLD

Sectors29d ago

Sector Update: Healthcare Stocks Advance Premarket Friday

Healthcare stocks were advancing premarket Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.4% higher and the iShares Biotechnology ETF (IBB) up 0.5%.Mesoblast (MESO) shares were up more than 4% after the company said sales of its steroid-refractory acute graft-versus-host disease treatment, Ryoncil, totaled $36 million in fiscal Q4.SL Science (SLBT) stock was up more than 8% after the company said it has submitted an orphan drug designation request to the US Food and Drug Administration for its Gamma Delta T therapy, named Vdelta2+ Gamma Delta T Cells, for the treatment of glioblastoma multiforme.InMode (INMD) stock was up more than 1% after the company confirmed that its board has received an unsolicited acquisition proposal from Steel Partners Holdings dated July 9.

$IBB$INMD$MESO$SLBT$XLV

Oil & Energy29d ago

Strait of Hormuz Security Threat Level 'Severe,' Advisory Says

The prevailing threat level to maritime security in the Strait of Hormuz remains "severe", the Joint Maritime Information Center said on Friday, following recent developments in the Middle East."Notwithstanding recent unprovoked attacks on merchant vessels, mariners are reminded that the southern route of the SoH has been expanded and remains available for all traffic," the JMIC advisory said.Ships may use the southern route without prior coordination, JMIC said, while other routes, unprotected, were also available.JMIC urged mariners to engage with Naval Cooperation and Guidance for Shipping for route advisories, and to remain aware of the mine danger area within the traffic separation scheme.

Sectors29d ago

Sector Update: Consumer Stocks Edge Higher Pre-Bell Friday

Consumer stocks were edging higher pre-bell Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.1%.AutoZone (AZO) stock was up more than 1% after the company said it agreed to issue $850 million of 4.95% notes due July 15, 2031 and that the underwriting group will buy the debt securities at about 99.31% of the principal amount.JD.com (JD) unit JD Property-backed group is preparing to confidentially file for an initial public offering of a real estate investment trust in Singapore, Bloomberg reported, citing people familiar with the matter. Shares of JD.com were up more than 1% premarket.Amazon.com (AMZN) closed the sale of eight tranches of debt worth $24.92 billion, the company said. Amazon.com stock was 0.6% higher pre-bell.

$AMZN$AZO$JD$XLP$XLY

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Oil & Energy29d ago