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Sell-Side Research

Research and forecasts—price targets, macro calls, ratings—produced by investment banks and brokerages for clients and investors.

Current stories

investOne report1 publisher

BofA's front-end short needs twice the Fed hikes swaps are pricing

Mark Cabana's team has clients short SOFR and Fed Funds futures on a view that the federal funds target climbs toward 5.5%. Current swap pricing stops 75 basis points short of that.

Reality

Evidence28
Adoption
Not scored
Hype gap+35
Incentives72
Confidence30
investOne report1 publisher

Hugel restructures US Letybo sales for pricing control as Q3 revenue seen falling 26.3% sequentially

Hugel will recognise US end-customer prices from the second half of 2027, according to DB Securities. Getting there costs an inventory buyback this quarter and an intangible asset to amortise after that.

Publishers:en.sedaily.com

Reality

Evidence35
Adoption45
Hype gap+15
Incentives60
Confidence40
investOne report1 publisher

Shinhan cuts five Korean brokerage targets after turnover fell 59% from June to September

Shinhan Securities now expects Mirae Asset Securities to earn 16.1 billion won in the third quarter against a 181.5 billion won consensus, and it has taken the stock's price target down 26%, to 37,000 won.

Publishers:en.sedaily.com

Reality

Evidence54
Adoption71
Hype gap+9
Incentives67
Confidence57
investOne report1 publisher

Closing SK hynix's 50.7% ADR premium would take a third out of the Nasdaq price

A Nasdaq buyer of SK hynix paid an implied 2,558,200 won for a share Seoul priced at 1,697,000. Of that position, 861,200 won, a third of the money, depends on the gap staying open.

Publishers:en.sedaily.com

Reality

Evidence62
Adoption55
Hype gap+22
Incentives72
Confidence58
investOne report1 publisher

Morgan Stanley risks four yen to make nine on its short-yen call

Koichi Sugisaki's team wants clients long dollar-yen from about 154 toward 163 with a stop at 150. That pays 2.25 for every 1 risked on a view that the yen's rally was mechanical positioning that has now flushed out.

Reality

Evidence34
Adoption
Not scored
Hype gap+24
Incentives62
Confidence42
productOne report1 publisher

Morgan Stanley sizes Apple's foldable at 16% of next quarter's iPhone revenue

Apple unveils the foldable iPhone on Wednesday under a US$570 billion summer rally and a chief executive who started on Sept. 1. Morgan Stanley's own numbers leave most of the quarter's iPhone revenue with the ordinary models.

Reality

Evidence55
Adoption
Not scored
Hype gap+28
Incentives70
Confidence52
investOne report1 publisher

Marvell paid $3.25bn for silicon photonics maker Celestial AI to target market KeyBanc sees hitting $20bn by 2030

KeyBanc's optical thesis for Marvell and Marvell's own revenue guidance both land near $30 billion, four years apart and measuring different things. The purchase price for the technology is already committed.

Reality

Evidence32
Adoption45
Hype gap+30
Incentives62
Confidence36
investOne report1 publisher

Intel's 9% jump prices a mid-2028 wafer promise at 92 times this year's earnings

Intel closed at $104.47, roughly 92 times the $1.14 it is expected to earn this year. Of the three legs holding that price up, only the data centre line is already in the accounts. October's CPU increase is still a supply chain report.

Publishers:en.sedaily.com

Reality

Evidence52
Adoption32
Hype gap+42
Incentives68
Confidence55
investOne report1 publisher

Goldman says the market's 45% odds on a Fed hike are nearly double what the data supports

The bank's own estimate is 25%. The more useful detail is that the market's hike probability travelled from 12% to 45% on oil headlines, not on inflation prints.

Reality

Evidence28
Adoption
Not scored
Hype gap+24
Incentives66
Confidence33