After Jackson Hole – US bank tied its interest rate forecast back significantly

Bank of America cuts its year-end target for 10-year US Treasury bond yields to 1.55pc. Previously assumed an increase to 1.9pc. Are other prominent banks now also throwing in the towel?

Stadler Rail: Bank of America cuts to 32 (38) Fr. with UNDERPERFORM. Do not be stingy with criticism. More on the topic at 12.30 p.m. in my column. When does company patron Peter Spuhler get too much?

AMS: JP Morgan cuts to 23 (26) Fr. with OVERWEIGHT. Daily business has bottomed out.

Arbonia: Stifel increases to 21 (19) Fr. with BUY. Increases earnings estimates by up to 7pc in the course of solid half-year results. Research Partners are even for BUY up to 22 (20) Fr. Expect ambitious new medium-term goals in October.

Ascom: Set foot on the American continent with a distribution agreement with Vichern.

Bachem: Vontobel increases to 690 (470) CHF with HOLD. Strong first half of the year and promising new medium-term goals.

Clariant: JP Morgan share a sale with UNDERWEIGHT until 18.80 (17.20) Fr. Expects further improvements in earnings.

dormakaba: Sells the Glass Systems business unit to a financial investor. As usual, no financial information. Vontobel stays for HOLD up to CHF 690.

Galenica: Vontobel increases to CHF 70 (65) with HOLD. Adjustments to estimates after half-yearly figures and company acquisitions.

Komax: Kepler Cheuvreux is for BUY up to 315 (310) Fr. Estimation adjustments after solid half-year figures.

Mobilezone: Mirabaud Securities increases to 15.10 (14.50) Fr. with BUY. Above all, highlights the attractive dividend prospects.

Molecular Partners: Credit Suisse cuts it to 17 (18.50) CHF with NEUTRAL. With this step, takes into account the delays in the Covid-19 active ingredient Ensovibep.

Novartis: Advance publication of important drug studies before specialist congress in Europe. Share for ZKB a purchase with OVERWEIGHT.

Orascom: UBS starts with NEUTRAL until 12.10 CHF. Strong track record in real estate development. Expect operating profit to triple over the next few years.

Rieter: Rushes verbally to help the weak share recently. Remains for BUY up to CHF 260.

Roche: Withdraw accelerated US approval for Tecentriq in breast cancer. Step does not come as a surprise to observers. Vontobel stays for BUY up to CHF 395, ZKB for OVERWEIGHT.

Swiss Re: Cyclone “Ida” hits the US Gulf Coast with devastating force. Initial estimates assume insured losses of up to $ 10 billion. A comparison with Hurricane “Kathrina” is therefore not appropriate. ZKB remains for MARKET WEIGHTS.

Zug Estates: Vontobel is CHF for HOLD until 2020 (2000). Only makes minor adjustments to estimates.

Derivatives: Complete slack.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.