{"id":93590,"date":"2026-08-20T08:00:51","date_gmt":"2026-08-20T00:00:51","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=93590"},"modified":"2026-08-20T11:23:25","modified_gmt":"2026-08-20T03:23:25","slug":"technical-analysis-20-august-2026","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-20-august-2026\/","title":{"rendered":"Technical Analysis: 20 August 2026"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"93590\" class=\"elementor elementor-93590\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7de8b58c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7de8b58c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-327eb9a6\" data-id=\"327eb9a6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3580cd48 elementor-widget elementor-widget-heading\" data-id=\"3580cd48\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">TECHNICAL ANALYSIS<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76fb0d42 elementor-widget elementor-widget-heading\" data-id=\"76fb0d42\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Technical Analysis: 20 August 2026<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-78cfe52b elementor-widget elementor-widget-text-editor\" data-id=\"78cfe52b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-family: Montserrat; font-size: 13px; font-weight: 600; background: #e8f4ff; padding: 12px 18px; border-radius: 0px; margin-top: 16px;\"><span style=\"color: #15a4ff;\"><span style=\"text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;\"><a href=\"#sp\">SINGAPORE<\/a><\/span><\/span> \u00a0|\u00a0 <span style=\"color: #15a4ff;\"><span style=\"text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;\"><a href=\"#hk\">HONG KONG<\/a><\/span><\/span> \u00a0|\u00a0 <span style=\"color: #15a4ff;\"><span style=\"text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;\"><a href=\"#us\">UNITED STATES<\/a>\u00a0\u00a0<\/span><\/span>|<span style=\"color: #15a4ff;\">\u00a0\u00a0<\/span><a style=\"background-color: #e8f4ff;\" href=\"#er\">EARNINGS<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5fd542a2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5fd542a2\" data-element_type=\"section\" data-e-type=\"section\" id=\"sg\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7d1bf575\" data-id=\"7d1bf575\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3d6ff210 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"3d6ff210\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Singapore<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-211acbef e-flex e-con-boxed e-con e-parent\" data-id=\"211acbef\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-caa650a e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"caa650a\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInLeft&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d889dd6 elementor-widget elementor-widget-text-editor\" data-id=\"d889dd6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding-top: 0px; padding-right: 15px; padding-bottom: 0px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">UOBKH SP<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">UOB-Kay Hian Holdings Limited.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05a679f elementor-widget elementor-widget-text-editor\" data-id=\"05a679f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"none\">Shares closed on the 5dEMA.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI is and MACD are constructive.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Buy \u2013 Entry 4.2, Target 4.8, Stop 3.9<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3848921 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"3848921\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e0c58a elementor-widget elementor-widget-image\" data-id=\"5e0c58a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1804\" height=\"1080\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.40.36-PM.png\" class=\"attachment-full size-full wp-image-93591\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.40.36-PM.png 1804w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.40.36-PM-300x180.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.40.36-PM-1024x613.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.40.36-PM-768x460.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.40.36-PM-1536x920.png 1536w\" sizes=\"(max-width: 1804px) 100vw, 1804px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-04e9bfc e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"04e9bfc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInRight&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-55d7169 elementor-widget elementor-widget-text-editor\" data-id=\"55d7169\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding: 0 15px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">STH SP<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Starhub Ltd.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cc8b150 elementor-widget elementor-widget-text-editor\" data-id=\"cc8b150\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><span data-contrast=\"none\">Shares closed above the 5dEMA with elevated volume.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><span data-contrast=\"auto\">RSI is at overbought levels but MACD is still constructive.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Buy \u2013 Entry 1.08, Target 1.20, Stop 1.02<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f6c763 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"5f6c763\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a7904c elementor-widget elementor-widget-image\" data-id=\"2a7904c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1806\" height=\"1068\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.19-PM.png\" class=\"attachment-full size-full wp-image-93592\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.19-PM.png 1806w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.19-PM-300x177.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.19-PM-1024x606.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.19-PM-768x454.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.19-PM-1536x908.png 1536w\" sizes=\"(max-width: 1806px) 100vw, 1806px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-59bbfb01 e-flex e-con-boxed e-con e-parent\" data-id=\"59bbfb01\" data-element_type=\"container\" data-e-type=\"container\" id=\"hk\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-48ad8487 e-con-full e-flex e-con e-child\" data-id=\"48ad8487\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6496da02 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"6496da02\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Hong Kong<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dd4939c e-flex e-con-boxed e-con e-parent\" data-id=\"dd4939c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-3d487d4 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"3d487d4\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInLeft&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0750803 elementor-widget elementor-widget-text-editor\" data-id=\"0750803\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding-top: 0px; padding-right: 15px; padding-bottom: 0px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">1972 HK<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Swire Properties Limited<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-124ee20 elementor-widget elementor-widget-text-editor\" data-id=\"124ee20\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Shares closed above the 5dEMA with rising volume.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI and MACD are constructive.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Long <\/span><\/b><span data-contrast=\"auto\">\u2013 <\/span><b><span data-contrast=\"auto\">Entry 24.0, Target 27.0, Stop 22.5<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f056d27 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"f056d27\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f49f4ce elementor-widget elementor-widget-image\" data-id=\"f49f4ce\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1798\" height=\"1074\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.59-PM.png\" class=\"attachment-full size-full wp-image-93593\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.59-PM.png 1798w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.59-PM-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.59-PM-1024x612.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.59-PM-768x459.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.41.59-PM-1536x917.png 1536w\" sizes=\"(max-width: 1798px) 100vw, 1798px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7b8022e e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"7b8022e\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInRight&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d6b8373 elementor-widget elementor-widget-text-editor\" data-id=\"d6b8373\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding: 0 15px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">2668 HK<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Pak Tak International Limited\u00a0<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d33577d elementor-widget elementor-widget-text-editor\" data-id=\"d33577d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Shares closed above the 5dEMA with rising volume.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Both RSI and MACD are constructive.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Long \u2013 Entry 0.46, Target 0.52, Stop 0.43<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-994114a elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"994114a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cd858b1 elementor-widget elementor-widget-image\" data-id=\"cd858b1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1800\" height=\"1072\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.42.29-PM.png\" class=\"attachment-full size-full wp-image-93594\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.42.29-PM.png 1800w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.42.29-PM-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.42.29-PM-1024x610.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.42.29-PM-768x457.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-19-at-10.42.29-PM-1536x915.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ec83e44 e-flex e-con-boxed e-con e-parent\" data-id=\"ec83e44\" data-element_type=\"container\" data-e-type=\"container\" id=\"us\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2a2d5e8f e-con-full e-flex e-con e-child\" data-id=\"2a2d5e8f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d298853 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"d298853\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">United States<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a4bba78 e-flex e-con-boxed e-con e-parent\" data-id=\"a4bba78\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-49fcacc9 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"49fcacc9\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInLeft&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1d277b15 elementor-widget elementor-widget-text-editor\" data-id=\"1d277b15\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding: 0 15px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">SMCI US<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Super Micro Computer, Inc.\u00a0<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6a4d3e66 elementor-widget elementor-widget-text-editor\" data-id=\"6a4d3e66\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Shares closed slightly below the 5dEMA.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Bothe RSI and MACD are constructive.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Long \u2013 Entry 36, Target 42, Stop 33<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p>\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-49d6d3a elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"49d6d3a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-38985d1d elementor-widget elementor-widget-image\" data-id=\"38985d1d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"968\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-20-at-11.21.05-AM.png\" class=\"attachment-full size-full wp-image-93598\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-20-at-11.21.05-AM.png 968w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-20-at-11.21.05-AM-300x178.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-20-at-11.21.05-AM-768x456.png 768w\" sizes=\"(max-width: 968px) 100vw, 968px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-47db7ac5 e-con-full animated-slow e-flex elementor-invisible e-con e-child\" data-id=\"47db7ac5\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInRight&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8e69be9 elementor-widget elementor-widget-text-editor\" data-id=\"8e69be9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div style=\"padding: 0 15px; min-height: 55px;\"><p style=\"font-family: Montserrat; font-size: 11px; font-weight: 600; color: #9b9b9b; letter-spacing: 2px; text-transform: uppercase; margin: 0 0 6px;\">AAPL US<\/p><h3 style=\"font-family: Montserrat; font-size: 22px; font-weight: 600; color: #0d2a5e; margin: 0 0 12px;\">Apple Inc.<\/h3><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-31bab0f1 elementor-widget elementor-widget-text-editor\" data-id=\"31bab0f1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Shares closed above the 5dEMA with rising volume.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">RSI is constructive and MACD is about to turn positive.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Long \u2013 Entry 310, Target 340, Stop 295<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d3c72a2 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2d3c72a2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73aec530 elementor-widget elementor-widget-image\" data-id=\"73aec530\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"963\" height=\"574\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-20-at-11.21.36-AM.png\" class=\"attachment-full size-full wp-image-93599\" alt=\"\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-20-at-11.21.36-AM.png 963w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-20-at-11.21.36-AM-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/08\/Screenshot-2026-08-20-at-11.21.36-AM-768x458.png 768w\" sizes=\"(max-width: 963px) 100vw, 963px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1a0c420a e-con e-atomic-element e-flexbox-base e-1a0c420a-108c1cb \" data-id=\"1a0c420a\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"1a0c420a\" data-e-type=\"e-flexbox\" data-id=\"1a0c420a\">\n    \t\t\t<p class=\"e-32092b11-15817bd e-paragraph-base\" data-interaction-id=\"32092b11\" data-e-type=\"widget\" data-id=\"32092b11\"><a target=\"_self\" href=\"#top\" id=\"e-mq4jsug1-z6kdzol\">^ Back to Top<\/a><\/p>\n\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-30f27d76 e-flex e-con-boxed e-con e-parent\" data-id=\"30f27d76\" data-element_type=\"container\" data-e-type=\"container\" id=\"er\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-ad2646f e-con-full e-flex e-con e-child\" data-id=\"ad2646f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-50b50a35 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"50b50a35\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Earnings<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-39b0c2cc e-flex e-con-boxed elementor-invisible e-con e-parent\" data-id=\"39b0c2cc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;animation_tablet&quot;:&quot;fadeInUp&quot;,&quot;animation_mobile&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-297187d6 elementor-widget elementor-widget-text-editor\" data-id=\"297187d6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">Analog Devices, Inc. (ADI)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26 Revenue: <\/span><\/b><span data-contrast=\"auto\">$4.02B<\/span><span data-contrast=\"auto\">, +39.6% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$90M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">3Q26 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$3.45, beat estimates by $0.11<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q<\/span><\/b><b><span data-contrast=\"auto\">26 Guidance: <\/span><\/b><span data-contrast=\"auto\">4Q26 revenue is expected at approximately US$4.30B, materially above consensus of approximately US$4.08B. Adjusted EPS is expected at US$3.86 \u00b1 US$0.15, also well above consensus of approximately US$3.54. Management expects broad-based demand momentum to continue into FY27, supported by AI data centers and continued industrial recovery.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/Share buybacks: <\/span><\/b><span data-contrast=\"auto\">Returned approximately US$1.69B to shareholders through dividends and share repurchases during the quarter. ADI continues to target returning essentially 100% of free cash flow over the long term through dividends and share-count reduction.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was a strong beat-and-raise quarter. Revenue growth accelerated to 40%, adjusted EPS increased 68%, and the Q4 revenue guide implies another sequential acceleration to a new record. The most important development is that AI infrastructure is becoming a meaningful incremental growth engine for ADI, particularly within Communications, while the traditional Industrial business is simultaneously benefiting from inventory normalization and a cyclical demand recovery. The key issue is valuation and expectations rather than fundamentals. ADI entered earnings up roughly 40% YTD, meaning a substantial analog recovery and AI premium were already embedded in the share price. Despite beating both Q3 expectations and Q4 consensus, shares initially rose but ultimately closed approximately 0.9% lower, suggesting investors were looking for an even larger upside surprise. The principal variables to monitor are AI data-center revenue growth, Industrial order momentum, automotive demand, gross-margin expansion and whether the current order strength extends into FY27. <\/span><b><span data-contrast=\"auto\">4Q26 recommended trading range: $360 to $460. Positive Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Analog Devices, Inc.\uff08ADI<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">40.2\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f39.6%\uff0c\u8d85\u51fa\u9884\u671f9000\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">3.45\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.11\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u8425\u6536\u9884\u8ba1\u7ea643.0\u4ebf\u7f8e\u5143\uff0c\u5927\u5e45\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\u7684\u7ea640.8\u4ebf\u7f8e\u5143\uff1b\u8c03\u6574\u540eEPS\u9884\u8ba1\u7ea63.86\u7f8e\u5143\uff08\u00b10.15\u7f8e\u5143\uff09\uff0c\u663e\u8457\u9ad8\u4e8e\u5e02\u573a\u9884\u671f\u7684\u7ea63.54\u7f8e\u5143\uff1b\u7ba1\u7406\u5c42\u9884\u8ba1\u5e7f\u6cdb\u7684\u9700\u6c42\u52a8\u80fd\u5c06\u5ef6\u7eed\u81f327\u8d22\u5e74\uff0c\u4e3b\u8981\u53d7AI\u6570\u636e\u4e2d\u5fc3\u9700\u6c42\u4e0e\u5de5\u4e1a\u9886\u57df\u6301\u7eed\u590d\u82cf\u7684\u5171\u540c\u652f\u6491\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u901a\u8fc7\u80a1\u606f\u548c\u80a1\u7968\u56de\u8d2d\u5411\u80a1\u4e1c\u8fd4\u8fd8\u7ea616.9\u4ebf\u7f8e\u5143\u3002\u516c\u53f8\u957f\u671f\u81f4\u529b\u4e8e\u901a\u8fc7\u5206\u7ea2\u4e0e\u56de\u8d2d\uff0c\u5c06\u7ea6100%\u7684\u81ea\u7531\u73b0\u91d1\u6d41\u8fd4\u8fd8\u7ed9\u80a1\u4e1c\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5448\u73b0\u6781\u4e3a\u5f3a\u52b2\u7684\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u6001\u52bf\u3002\u8425\u6536\u589e\u901f\u52a0\u5feb\u81f340%\uff0c\u8c03\u6574\u540eEPS\u540c\u6bd4\u5927\u589e68%\uff0c\u4e14Q4\u6307\u5f15\u6697\u793a\u8425\u6536\u5c06\u73af\u6bd4\u518d\u6b21\u52a0\u901f\u5e76\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u3002\u6700\u6838\u5fc3\u7684\u4eae\u70b9\u5728\u4e8e\u5176 \u201c\u53cc\u5f15\u64ce\u9a71\u52a8\u201d\u903b\u8f91\u7684\u5b8c\u7f8e\u5151\u73b0\uff1a\u4e00\u65b9\u9762\uff0cAI\u57fa\u7840\u8bbe\u65bd\u6b63\u6210\u4e3aADI\u5b9e\u8d28\u6027\u7684\u589e\u91cf\u589e\u957f\u5f15\u64ce\uff08\u5c24\u5176\u662f\u5728\u901a\u4fe1\u4e0e\u6570\u636e\u4e2d\u5fc3\u7535\u6e90\u7ba1\u7406\u9886\u57df\uff09\uff1b\u53e6\u4e00\u65b9\u9762\uff0c\u4f20\u7edf\u7684\u5de5\u4e1a\u4e1a\u52a1\u6b63\u663e\u8457\u53d7\u76ca\u4e8e\u5e93\u5b58\u5e38\u6001\u5316\u4e0e\u5468\u671f\u6027\u9700\u6c42\u7684\u5168\u9762\u590d\u82cf\u3002\u7136\u800c\uff0c\u6838\u5fc3\u535a\u5f08\u70b9\u4f9d\u7136\u5728\u4e8e\u201c\u4f30\u503c\u4e0e\u9884\u671f\u7ba1\u7406\u201d\u3002\u8d22\u62a5\u53d1\u5e03\u524d\uff0cADI\u5e74\u5185\u80a1\u4ef7\u5df2\u7d2f\u8ba1\u5927\u6da8\u7ea640%\uff0c\u8fd9\u610f\u5473\u7740\u201c\u6a21\u62df\u82af\u7247\u5468\u671f\u590d\u82cf+AI\u6ea2\u4ef7\u201d\u5df2\u5145\u5206\u8ba1\u5165\u80a1\u4ef7\u3002\u56e0\u6b64\uff0c\u5c3d\u7ba1Q3\u4e1a\u7ee9\u4e0eQ4\u6307\u5f15\u53cc\u53cc\u5927\u5e45\u8d85\u9884\u671f\uff0c\u80a1\u4ef7\u76d8\u4e2d\u51b2\u9ad8\u540e\u6700\u7ec8\u4ecd\u6536\u8dcc\u7ea60.9%\uff0c\u8868\u660e\u5728\u5f53\u524d\u9ad8\u4f4d\u4e0b\uff0c\u6295\u8d44\u8005\u671f\u5f85\u770b\u5230\u66f4\u5177\u7206\u53d1\u529b\u7684\u201c\u8d85\u9884\u671f\u60ca\u559c\u201d\u6765\u652f\u6491\u4f30\u503c\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09AI\u6570\u636e\u4e2d\u5fc3\u76f8\u5173\u6536\u5165\uff08\u5982\u7535\u6e90\u7ba1\u7406\u3001\u4fe1\u53f7\u94fe\uff09\uff1b\uff082\uff09\u5de5\u4e1a\u9886\u57df\u8ba2\u5355\u52a8\u80fd\u7684\u6301\u7eed\u6027\u4e0e\u590d\u82cf\u659c\u7387\uff1b\uff083\uff09\u6c7d\u8f66\u7535\u5b50\u9700\u6c42\u7684\u89e6\u5e95\u53cd\u5f39\u60c5\u51b5\uff1b\uff084\uff09\u9ad8\u9644\u52a0\u503c\u4ea7\u54c1\u7ec4\u5408\u5e26\u52a8\u7684\u6bdb\u5229\u7387\u6269\u5f20\u8f68\u8ff9\uff1b\uff085\uff09\u5f53\u524d\u7684\u5f3a\u52b2\u8ba2\u5355\u80fd\u89c1\u5ea6\u80fd\u5426\u987a\u5229\u5ef6\u4f38\u81f327\u8d22\u5e74\u3002ADI\u4f5c\u4e3a\u5168\u7403\u6a21\u62df\u82af\u7247\u5de8\u5934\uff0c\u6b63\u6210\u529f\u5c06AI\u7b97\u529b\u57fa\u5efa\u7684\u7ed3\u6784\u6027\u7ea2\u5229\u4e0e\u4f20\u7edf\u7684\u5de5\u4e1a\/\u6c7d\u8f66\u5468\u671f\u590d\u82cf\u76f8\u7ed3\u5408\uff0c\u57fa\u672c\u9762\u6781\u4e3a\u624e\u5b9e\uff0c\u4e14\u5177\u5907\u6781\u5f3a\u7684\u73b0\u91d1\u6d41\u521b\u9020\u4e0e\u80a1\u4e1c\u56de\u62a5\u80fd\u529b\u3002\u5c3d\u7ba1\u77ed\u671f\u9700\u6d88\u5316\u9ad8\u9884\u671f\u5e26\u6765\u7684\u4f30\u503c\u6ce2\u52a8\uff0c\u4f46\u957f\u671f\u589e\u957f\u903b\u8f91\u6e05\u6670\u4e14\u5177\u97e7\u6027\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a360\u7f8e\u5143\u81f3460\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Target Corporation (TGT)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue: <\/span><\/b><span data-contrast=\"auto\">$26.54B<\/span><span data-contrast=\"auto\">, +5.3% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$400M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"10\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$4.11, beat estimates by $1.77<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"11\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26 Guidance: <\/span><\/b><span data-contrast=\"auto\">Raised FY26 net sales growth guidance to approximately 5%, from around 4% previously. GAAP EPS guidance was raised to US$9.90\u2013US$10.90, although excluding the tariff-refund benefit, underlying EPS guidance is approximately US$8.25\u2013US$9.25.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"12\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/ Share Buybacks: <\/span><\/b><span data-contrast=\"auto\">Target continues to return capital primarily through its quarterly dividend. The company also retains substantial capacity under its existing share-repurchase authorization, which stood at approximately US$8.3B at the end of 1Q26.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"13\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was a strong beat-and-raise quarter with increasingly credible evidence that Target&#8217;s turnaround is gaining traction. Comparable sales accelerated to 3.8%, traffic increased 3.6%, and digital comps rose 8.7%, supported by more than 25% growth in same-day delivery. Management&#8217;s pricing actions, improved merchandising and investments in store experience appear to be translating into better traffic and market-share trends. The key issue is earnings quality. Nearly US$1B of tariff refunds materially boosted Q2 profitability, accounting for roughly US$1.65 of EPS. Excluding this benefit, the earnings beat was substantially smaller. Furthermore, shares have already risen more than 50% YTD, meaning expectations for the turnaround have reset materially higher and execution risk is increasingly asymmetric. Shares rose approximately 5% following the earnings release. The principal variables to monitor are comparable traffic, discretionary category recovery, digital and same-day delivery growth, gross-margin normalization after tariff refunds, consumer spending and whether management can sustain positive comps through the holiday season. Operational momentum is clearly improving, but the temporary earnings benefit and substantial YTD rerating prevent a higher-conviction stance at current levels. <\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $145 to $170. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Target Corporation\uff08TGT<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">265.4\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f5.3%\uff0c\u8d85\u51fa\u9884\u671f4\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">4.11\u7f8e\u5143\uff0c\u5927\u5e45\u8d85\u51fa\u9884\u671f1.77\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u5168\u5e74\u51c0\u9500\u552e\u589e\u957f\u6307\u5f15\u4e0a\u8c03\u81f3\u7ea65%\uff08\u6b64\u524d\u4e3a\u7ea64%\uff09\uff1bGAAP EPS\u6307\u5f15\u4e0a\u8c03\u81f39.90\u201310.90\u7f8e\u5143\uff0c\u4f46\u5254\u9664\u5173\u7a0e\u9000\u6b3e\u7684\u4e00\u6b21\u6027\u5229\u597d\u540e\uff0c\u6f5c\u5728\u7684EPS\u6307\u5f15\u7ea6\u4e3a8.25\u20139.25\u7f8e\u5143\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"9\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e3b\u8981\u901a\u8fc7\u5b63\u5ea6\u80a1\u606f\u5411\u80a1\u4e1c\u8fd4\u8fd8\u8d44\u672c\uff1b\u73b0\u6709\u80a1\u7968\u56de\u8d2d\u6388\u6743\u989d\u5ea6\u4f9d\u7136\u5145\u88d5\uff0c\u622a\u81f326\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u672b\u5269\u4f59\u989d\u5ea6\u7ea683\u4ebf\u7f8e\u5143\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"10\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5448\u73b0\u5f3a\u52b2\u7684\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u6001\u52bf\uff0c\u8d8a\u6765\u8d8a\u591a\u7684\u53ef\u4fe1\u8bc1\u636e\u8868\u660eTarget\u7684\u8f6c\u578b\u590d\u82cf\u6b63\u6b65\u5165\u6b63\u8f68\u3002\u540c\u5e97\u9500\u552e\u589e\u901f\u52a0\u5feb\u81f33.8%\uff0c\u5ba2\u6d41\u91cf\u589e\u957f3.6%\uff0c\u6570\u5b57\u4e1a\u52a1\u540c\u5e97\u9500\u552e\u5927\u589e8.7%\uff0c\u5176\u4e2d\u5f53\u65e5\u8fbe\uff08same-day\uff09\u3002\u7ba1\u7406\u5c42\u524d\u671f\u7684\u5b9a\u4ef7\u7b56\u7565\u3001\u5546\u54c1\u7ec4\u5408\u4f18\u5316\u53ca\u95e8\u5e97\u4f53\u9a8c\u6295\u8d44\uff0c\u6b63\u5207\u5b9e\u8f6c\u5316\u4e3a\u66f4\u597d\u7684\u5ba2\u6d41\u4e0e\u5e02\u573a\u4efd\u989d\u8868\u73b0\u3002\u7136\u800c\uff0c\u6838\u5fc3\u9690\u5fe7\u5728\u4e8e\u201c\u76c8\u5229\u8d28\u91cf\u201d\u3002\u672c\u5b63\u5ea6\u9ad8\u8fbe\u8fd110\u4ebf\u7f8e\u5143\u7684\u5173\u7a0e\u9000\u6b3e\u5927\u5e45\u63d0\u632f\u4e86\u8d26\u9762\u76c8\u5229\u80fd\u529b\uff0c\u5355\u5b63\u8d21\u732e\u4e86\u7ea61.65\u7f8e\u5143\u7684EPS\u3002\u82e5\u5254\u9664\u8fd9\u4e00\u4e0d\u53ef\u6301\u7eed\u7684\u4e00\u6b21\u6027\u5229\u597d\uff0c\u5b9e\u9645\u7684\u76c8\u5229\u8d85\u9884\u671f\u5e45\u5ea6\u5c06\u5927\u5e45\u7f29\u6c34\u3002\u6b64\u5916\uff0c\u4f30\u503c\u4e0e\u9884\u671f\u7ba1\u7406\u9762\u4e34\u6311\u6218\uff1aTarget\u5e74\u5185\u80a1\u4ef7\u5df2\u7d2f\u8ba1\u5927\u6da8\u8d8550%\uff0c\u5e02\u573a\u5bf9\u5176\u8f6c\u578b\u6210\u529f\u7684\u9884\u671f\u5df2\u88ab\u5927\u5e45\u63a8\u9ad8\u3002\u5728\u5f53\u524d\u4f30\u503c\u6c34\u4f4d\u4e0b\uff0c\u672a\u6765\u7684\u6267\u884c\u98ce\u9669\u53d8\u5f97\u65e5\u76ca\u4e0d\u5bf9\u79f0\uff08\u5373\u5bb9\u9519\u7387\u6781\u4f4e\uff09\u3002\u5c3d\u7ba1\u5982\u6b64\uff0c\u8d22\u62a5\u540e\u80a1\u4ef7\u4ecd\u4e0a\u6da8\u7ea65%\uff0c\u663e\u793a\u5e02\u573a\u5bf9\u5176\u8fd0\u8425\u57fa\u672c\u9762\u7684\u5b9e\u8d28\u6027\u6539\u5584\u7ed9\u4e88\u4e86\u80af\u5b9a\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u540c\u5e97\u5ba2\u6d41\u91cf\u7684\u6301\u7eed\u6027\uff1b\uff082\uff09\u975e\u5fc5\u9700\u54c1\uff08discretionary\uff09\uff1b\uff083\uff09\u6570\u5b57\u6e20\u9053\u4e0e\u5f53\u65e5\u8fbe\u914d\u9001\u7684\u589e\u957f\u52a8\u80fd\uff1b\uff084\uff09\u5254\u9664\u5173\u7a0e\u9000\u6b3e\u540e\uff0c\u6bdb\u5229\u7387\u7684\u5e38\u6001\u5316\u56de\u5f52\u8def\u5f84\uff1b\uff085\uff09\u5b8f\u89c2\u6d88\u8d39\u8005\u652f\u51fa\u8d8b\u52bf\uff1b\uff086\uff09\u7ba1\u7406\u5c42\u80fd\u5426\u5728\u5173\u952e\u7684\u5047\u65e5\u8d2d\u7269\u5b63\uff08holiday season\uff09\u3002Target\u7684\u8fd0\u8425\u52a8\u80fd\u663e\u7136\u6b63\u5728\u663e\u8457\u6539\u5584\uff0c\u4f46\u4e00\u6b21\u6027\u7684\u76c8\u5229\u7c89\u9970\u4e0e\u5e74\u5185\u7684\u5927\u5e45\u4f30\u503c\u91cd\u4f30\uff0c\u9650\u5236\u4e86\u5728\u5f53\u524d\u4ef7\u4f4d\u7ed9\u51fa\u66f4\u9ad8\u786e\u4fe1\u5ea6\u7684\u8bc4\u7ea7\u3002<\/span><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a145\u7f8e\u5143\u81f3170\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">The TJX Companies, Inc. (TJX)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"14\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Revenue: <\/span><\/b><span data-contrast=\"auto\">$15.18B<\/span><span data-contrast=\"auto\">, +5.4% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$20M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"15\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q27 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$1.22, beat estimates by $0.03.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"16\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">27 Guidance: <\/span><\/b><span data-contrast=\"auto\">Raised FY27 comparable-sales growth guidance to approximately 3\u20134% from 2\u20133% previously and EPS guidance to US$4.75\u2013US$4.82, versus US$4.69\u2013US$4.75 previously.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"17\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/ Share Buybacks: <\/span><\/b><span data-contrast=\"auto\">Returned approximately US$1.0B to shareholders during the quarter through dividends and share repurchases. Management continues to expect approximately US$2.0\u2013US$2.5B of share repurchases for FY27.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"18\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was a strong beat-and-raise quarter. Comparable sales accelerated to 5%, customer transactions increased across every division, and earnings grew substantially faster than revenue as merchandise margins improved. TJX continues to benefit from consumers seeking value while its flexible off-price sourcing model allows the company to capitalize on excess branded inventory and rapidly adjust its merchandise assortment. The key issue is whether the current margin strength can persist. Management&#8217;s 3Q guidance implies a moderation in comparable-sales growth to 2\u20133%, while tariffs and higher supply-chain costs remain potential headwinds. Nevertheless, TJX&#8217;s purchasing model provides greater flexibility than traditional retailers, and continued store expansion provides an additional structural growth driver beyond comparable sales. Shares rose approximately 3% following the earnings release. The principal variables to monitor are customer traffic, merchandise margin, inventory availability, tariff exposure, Marmaxx comparable sales and the sustainability of market-share gains from traditional department stores. Fundamentals remain strong and the raised FY27 outlook reinforces earnings visibility, although the stock&#8217;s premium valuation limits upside from multiple expansion. <\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $135 to $170. Positive Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">The TJX Companies, Inc.\uff08TJX<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"11\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">151.8<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">5.4%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">2000<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"12\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">1.22<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.03<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"13\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u4e0a\u8c03\u5168\u5e74\u540c\u5e97\u9500\u552e\u589e\u957f\u6307\u5f15\u81f3\u7ea6<\/span><span data-contrast=\"auto\">3%\u20134%<\/span><span data-contrast=\"auto\">\uff08\u6b64\u524d\u4e3a<\/span><span data-contrast=\"auto\">2%\u20133%\uff09\uff1bEPS<\/span><span data-contrast=\"auto\">\u6307\u5f15\u4e0a\u8c03\u81f3<\/span><span data-contrast=\"auto\">4.75\u20134.82<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff08\u6b64\u524d\u4e3a<\/span><span data-contrast=\"auto\">4.69\u20134.75<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff09\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"14\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u901a\u8fc7\u80a1\u606f\u548c\u80a1\u7968\u56de\u8d2d\u5411\u80a1\u4e1c\u8fd4\u8fd8\u7ea6<\/span><span data-contrast=\"auto\">10<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002\u7ba1\u7406\u5c42\u9884\u8ba1<\/span><span data-contrast=\"auto\">27<\/span><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u80a1\u7968\u56de\u8d2d\u89c4\u6a21\u7ea6\u4e3a<\/span><span data-contrast=\"auto\">20<\/span><span data-contrast=\"auto\">\u4ebf\u2013<\/span><span data-contrast=\"auto\">25<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"15\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5448\u73b0\u5f3a\u52b2\u7684\u201c\u8d85\u9884\u671f<\/span><span data-contrast=\"auto\">+<\/span><span data-contrast=\"auto\">\u4e0a\u8c03\u6307\u5f15\u201d\u6001\u52bf\u3002\u540c\u5e97\u9500\u552e\u589e\u901f\u52a0\u5feb\u81f3<\/span><span data-contrast=\"auto\">5%<\/span><span data-contrast=\"auto\">\uff0c\u5404\u4e1a\u52a1\u677f\u5757\u5ba2\u6d41\u91cf\u5747\u5b9e\u73b0\u589e\u957f\uff1b\u5f97\u76ca\u4e8e\u5546\u54c1\u5229\u6da6\u7387\u7684\u6539\u5584\uff0c\u76c8\u5229\u589e\u901f\u5927\u5e45\u9886\u5148\u4e8e\u8425\u6536\u589e\u901f\u3002<\/span><span data-contrast=\"auto\">TJX<\/span><span data-contrast=\"auto\">\u7684\u6838\u5fc3\u62a4\u57ce\u6cb3\u5728\u4e8e\u5176\u6301\u7eed\u53d7\u76ca\u4e8e\u6d88\u8d39\u8005\u8ffd\u6c42\u201c\u6027\u4ef7\u6bd4\u201d\u7684\u5b8f\u89c2\u8d8b\u52bf\u3002\u5176\u7075\u6d3b\u7684\u6298\u6263\u96f6\u552e\uff08<\/span><span data-contrast=\"auto\">off-price<\/span><span data-contrast=\"auto\">\uff09\uff0c\u4f7f\u5176\u80fd\u591f\u5145\u5206\u5438\u7eb3\u5e02\u573a\u4e0a\u8fc7\u5269\u7684\u54c1\u724c\u5e93\u5b58\uff0c\u5e76\u5feb\u901f\u8c03\u6574\u5546\u54c1\u7ec4\u5408\u4ee5\u8fce\u5408\u9700\u6c42\uff0c\u8fd9\u662f\u4f20\u7edf\u5168\u4ef7\u96f6\u552e\u5546\u96be\u4ee5\u4f01\u53ca\u7684\u4f18\u52bf\u3002\u7136\u800c\uff0c\u6838\u5fc3\u5173\u6ce8\u70b9\u5728\u4e8e\u5f53\u524d\u5f3a\u52b2\u7684\u5229\u6da6\u7387\u80fd\u5426\u6301\u7eed\u3002\u7ba1\u7406\u5c42\u5bf9\u7b2c\u4e09\u5b63\u5ea6\u7684\u6307\u5f15\u6697\u793a\u540c\u5e97\u9500\u552e\u589e\u901f\u5c06\u653e\u7f13\u81f3<\/span><span data-contrast=\"auto\">2%\u20133%<\/span><span data-contrast=\"auto\">\uff0c\u4e14\u5173\u7a0e\u4e0e\u66f4\u9ad8\u7684\u4f9b\u5e94\u94fe\u6210\u672c\u4ecd\u662f\u6f5c\u5728\u9006\u98ce\u3002\u5c3d\u7ba1\u5982\u6b64\uff0c<\/span><span data-contrast=\"auto\">TJX<\/span><span data-contrast=\"auto\">\u72ec\u7279\u7684\u91c7\u8d2d\u6a21\u5f0f\u8d4b\u4e88\u4e86\u5176\u8fdc\u8d85\u540c\u884c\u7684\u6297\u98ce\u9669\u7075\u6d3b\u6027\uff0c\u800c\u6301\u7eed\u7684\u95e8\u5e97\u6269\u5f20\u4e5f\u4e3a\u5176\u63d0\u4f9b\u4e86\u8d85\u8d8a\u540c\u5e97\u9500\u552e\u7684\u7ed3\u6784\u6027\u589e\u957f\u52a8\u529b\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0a\u6da8\u7ea6<\/span><span data-contrast=\"auto\">3%<\/span><span data-contrast=\"auto\">\uff0c\u5e02\u573a\u5bf9\u5176\u7a33\u5065\u7684\u57fa\u672c\u9762\u7ed9\u4e88\u80af\u5b9a\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\uff09\u5ba2\u6d41\u91cf\u8d8b\u52bf\u7684\u6301\u7eed\u6027\uff1b\uff08<\/span><span data-contrast=\"auto\">2<\/span><span data-contrast=\"auto\">\uff09\u5546\u54c1\u5229\u6da6\u7387\u7684\u7a33\u5b9a\u6027\uff1b\uff08<\/span><span data-contrast=\"auto\">3<\/span><span data-contrast=\"auto\">\uff09\u5e02\u573a\u4e0a\u54c1\u724c\u8fc7\u5269\u5e93\u5b58\u7684\u53ef\u83b7\u5f97\u6027\uff08\u76f4\u63a5\u5f71\u54cd\u91c7\u8d2d\u6210\u672c\u4e0e\u5546\u54c1\u5438\u5f15\u529b\uff09\uff1b\uff08<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\uff09\u5173\u7a0e\u653f\u7b56\u7684\u98ce\u9669\u655e\u53e3\uff1b\uff08<\/span><span data-contrast=\"auto\">5<\/span><span data-contrast=\"auto\">\uff09\u6838\u5fc3\u4e1a\u52a1<\/span><span data-contrast=\"auto\">Marmaxx<\/span><span data-contrast=\"auto\">\u7684\u540c\u5e97\u9500\u552e\u8868\u73b0\uff1b\uff08<\/span><span data-contrast=\"auto\">6<\/span><span data-contrast=\"auto\">\uff09\u4ece\u4f20\u7edf\u767e\u8d27\u516c\u53f8\u62a2\u593a\u5e02\u573a\u4efd\u989d\u7684\u53ef\u6301\u7eed\u6027\u3002<\/span><span data-contrast=\"auto\">TJX<\/span><span data-contrast=\"auto\">\u57fa\u672c\u9762\u4f9d\u7136\u5f3a\u52b2\uff0c\u4e0a\u8c03\u7684\u5168\u5e74\u6307\u5f15\u8fdb\u4e00\u6b65\u589e\u5f3a\u4e86\u76c8\u5229\u7684\u80fd\u89c1\u5ea6\uff0c\u662f\u6d88\u8d39\u964d\u7ea7\u5468\u671f\u4e2d\u6781\u5177\u9632\u5fa1\u6027\u7684\u4f18\u8d28\u8d44\u4ea7\u3002\u4f46\u8003\u8651\u5230\u5176\u80a1\u7968\u76ee\u524d\u4eab\u6709\u8f83\u9ad8\u7684\u4f30\u503c\u6ea2\u4ef7\uff0c\u672a\u6765\u80a1\u4ef7\u4e0a\u884c\u5c06\u66f4\u591a\u4f9d\u8d56\u76c8\u5229\u589e\u957f\uff08<\/span><span data-contrast=\"auto\">EPS delivery<\/span><span data-contrast=\"auto\">\uff09\u800c\u975e\u5e02\u76c8\u7387\u6269\u5f20\uff08<\/span><span data-contrast=\"auto\">multiple expansion\uff09\u3002<\/span><b><span data-contrast=\"auto\">\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">135<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">170<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><\/li><\/ul><p>\u00a0<\/p><p><b><span data-contrast=\"auto\">Lowe&#8217;s Companies, Inc. (LOW)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"19\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue: <\/span><\/b><span data-contrast=\"auto\">$25.96B<\/span><span data-contrast=\"auto\">, +8.3% YoY, miss estimates by <\/span><span data-contrast=\"auto\">$150M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"20\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$4.40, beat estimates by $0.18<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"21\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26 Guidance: <\/span><\/b><span data-contrast=\"auto\">Lowered FY26 expectations toward the bottom of its previous range. Management now expects revenue of approximately US$92B, comparable sales to be approximately flat, GAAP EPS of approximately US$11.75 and adjusted EPS of approximately US$12.25, versus adjusted EPS consensus of roughly US$12.43. The previous comparable-sales outlook was 0\u20132% growth.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"22\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/ Share Buybacks: <\/span><\/b><span data-contrast=\"auto\">No major change to its capital-return framework was announced alongside the quarter.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"23\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was a mixed quarter. Adjusted EPS beat expectations and Lowe\u2019s recorded its fifth consecutive quarter of positive comparable sales, with Pro, Home Services and online sales +15.7% providing the main areas of strength. Repair-and-maintenance demand remains resilient, but the core DIY consumer continues to defer larger discretionary projects amid affordability concerns and weak housing turnover. The key negative is the guidance cut. Management now expects roughly flat comparable sales in 2H26, materially weaker than prior market expectations, suggesting the home-improvement recovery is being pushed further out. Earnings quality was also modestly assisted by tariff refunds, while gross-margin contraction indicates that underlying profitability remains under pressure. A meaningful recovery increasingly depends on lower mortgage rates translating into higher housing turnover and eventually larger renovation spending. Shares nevertheless rose approximately 2% following the earnings release, helped by declining bond yields and expectations for eventual improvement in housing activity. The principal variables to monitor are comparable sales, DIY discretionary demand, Pro growth, online penetration, gross margin, mortgage rates and U.S. existing-home turnover. <\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $205 to $235. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Lowe&#8217;s Companies, Inc.\uff08LOW<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"16\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">259.6<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">8.3%<\/span><span data-contrast=\"auto\">\uff0c\u7565\u4f4e\u4e8e\u9884\u671f<\/span><span data-contrast=\"auto\">1.5<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"17\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">4.40<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.18<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"18\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\u4e0b\u8c03\uff1a<\/span><\/b><span data-contrast=\"auto\">\u7ba1\u7406\u5c42\u5c06\u5168\u5e74\u9884\u671f\u4e0b\u8c03\u81f3\u6b64\u524d\u6307\u5f15\u533a\u95f4\u7684\u5e95\u90e8\u3002\u73b0\u9884\u8ba1\u5168\u5e74\u8425\u6536\u7ea6<\/span><span data-contrast=\"auto\">920<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u5e97\u9500\u552e\u589e\u901f\u4e0b\u8c03\u81f3\u201c\u6301\u5e73\u201d\uff08\u6b64\u524d\u9884\u671f\u4e3a<\/span><span data-contrast=\"auto\">0%\u20132%\uff09\uff1bGAAP EPS<\/span><span data-contrast=\"auto\">\u7ea6<\/span><span data-contrast=\"auto\">11.75<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EPS<\/span><span data-contrast=\"auto\">\u7ea6<\/span><span data-contrast=\"auto\">12.25<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff08\u4f4e\u4e8e\u5e02\u573a\u5171\u8bc6\u7684\u7ea6<\/span><span data-contrast=\"auto\">12.43<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff09\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"19\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u672a\u5ba3\u5e03\u5bf9\u73b0\u6709\u8d44\u672c\u56de\u62a5\u6846\u67b6\u8fdb\u884c\u91cd\u5927\u8c03\u6574\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"20\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5448\u73b0\u201c\u76c8\u5229\u8d85\u9884\u671f\u4f46\u524d\u77bb\u6307\u5f15\u75b2\u8f6f\u201d\u7684\u6df7\u5408\u6001\u52bf\u3002\u5c3d\u7ba1\u8425\u6536\u5c0f\u5e45<\/span><span data-contrast=\"auto\">miss<\/span><span data-contrast=\"auto\">\uff0c\u4f46\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EPS<\/span><span data-contrast=\"auto\">\u8868\u73b0\u7a33\u5065\uff0c\u4e14\u516c\u53f8\u6210\u529f\u5f55\u5f97\u8fde\u7eed\u7b2c\u4e94\u4e2a\u5b63\u5ea6\u7684\u540c\u5e97\u9500\u552e\u6b63\u589e\u957f\u3002<\/span><span data-contrast=\"auto\">Pro<\/span><span data-contrast=\"auto\">\uff08\u4e13\u4e1a\u627f\u5305\u5546\uff09\u662f\u5f53\u524d\u7684\u6838\u5fc3\u589e\u957f\u5f15\u64ce\uff0c\u7ef4\u4fee\u4e0e\u7ef4\u62a4\uff08<\/span><span data-contrast=\"auto\">R&amp;M<\/span><span data-contrast=\"auto\">\uff09\u7b49\u5c0f\u578b\u9879\u76ee\u9700\u6c42\u4e5f\u5c55\u73b0\u51fa\u8f83\u5f3a\u7684\u97e7\u6027\u3002\u7136\u800c\uff0c\u6838\u5fc3\u75db\u70b9\u5728\u4e8e<\/span><span data-contrast=\"auto\">DIY<\/span><span data-contrast=\"auto\">\u5ba2\u7fa4\u7684\u75b2\u8f6f\u4e0e\u5168\u5e74\u6307\u5f15\u7684\u4e0b\u8c03\u3002\u53d7\u5236\u4e8e\u53ef\u8d1f\u62c5\u6027\uff08<\/span><span data-contrast=\"auto\">affordability<\/span><span data-contrast=\"auto\">\uff09\u62c5\u5fe7\u53ca\u4f4e\u8ff7\u7684\u623f\u5c4b\u5468\u8f6c\u7387\uff0c\u6838\u5fc3<\/span><span data-contrast=\"auto\">DIY<\/span><span data-contrast=\"auto\">\u6d88\u8d39\u8005\u6301\u7eed\u63a8\u8fdf\u5927\u578b\u975e\u5fc5\u9700\u7c7b\u7ffb\u65b0\u9879\u76ee\u3002\u7ba1\u7406\u5c42\u5bf9\u4e0b\u534a\u5e74\u540c\u5e97\u9500\u552e\u201c\u6301\u5e73\u201d\u7684\u9884\u671f\u663e\u8457\u5f31\u4e8e\u5e02\u573a<\/span><span data-contrast=\"auto\"> prior <\/span><span data-contrast=\"auto\">\u9884\u671f\uff0c\u6697\u793a\u5bb6\u5c45\u6539\u5584\u884c\u4e1a\u7684\u5168\u9762\u590d\u82cf\u88ab\u8fdb\u4e00\u6b65\u63a8\u8fdf\u3002\u6b64\u5916\uff0c\u672c\u5b63\u5ea6\u7684\u76c8\u5229\u8868\u73b0\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u53d7\u5230\u4e86\u5173\u7a0e\u9000\u6b3e\u7684\u4e34\u65f6\u6027\u63d0\u632f\uff0c\u800c\u6bdb\u5229\u7387\u7684\u6536\u7f29\u5219\u8868\u660e\u516c\u53f8\u5e95\u5c42\u7684\u76c8\u5229\u80fd\u529b\u4f9d\u7136\u627f\u538b\u3002\u5c3d\u7ba1\u6307\u5f15\u4e0b\u8c03\uff0c\u8d22\u62a5\u540e\u80a1\u4ef7\u4ecd\u6e29\u548c\u4e0a\u6da8\u7ea6<\/span><span data-contrast=\"auto\">2%<\/span><span data-contrast=\"auto\">\u3002\u8fd9\u4e3b\u8981\u5f97\u76ca\u4e8e\u5b8f\u89c2\u5c42\u9762\u503a\u5238\u6536\u76ca\u7387\u7684\u56de\u843d\uff0c\u4ee5\u53ca\u5e02\u573a\u5bf9\u672a\u6765\u62b5\u62bc\u8d37\u6b3e\u5229\u7387\u4e0b\u964d\u6700\u7ec8\u5c06\u5e26\u52a8\u4f4f\u623f\u4ea4\u6613\u4e0e\u7ffb\u65b0\u6d3b\u52a8\u56de\u6696\u7684\u957f\u671f\u535a\u5f08\u9884\u671f\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1<\/span><span data-contrast=\"auto\">\uff09\u540c\u5e97\u9500\u552e\u80fd\u5426\u5728\u4e0b\u534a\u5e74\u4f01\u7a33\uff1b\uff08<\/span><span data-contrast=\"auto\">2\uff09DIY<\/span><span data-contrast=\"auto\">\u5ba2\u7fa4\u5927\u578b\u975e\u5fc5\u9700\u54c1\u9700\u6c42\u7684\u590d\u82cf\u8282\u594f\uff1b\uff08<\/span><span data-contrast=\"auto\">3\uff09Pro<\/span><span data-contrast=\"auto\">\u4e13\u4e1a\u5ba2\u6237\u5e02\u573a\u4efd\u989d\u7684\u6301\u7eed\u83b7\u53d6\u80fd\u529b\uff1b\uff08<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\uff09\u7ebf\u4e0a\u6e20\u9053\u6e17\u900f\u7387\u7684\u63d0\u5347\uff1b\uff08<\/span><span data-contrast=\"auto\">5<\/span><span data-contrast=\"auto\">\uff09\u6bdb\u5229\u7387\u7684\u7a33\u5b9a\u6027\uff1b\uff08<\/span><span data-contrast=\"auto\">6<\/span><span data-contrast=\"auto\">\uff09\u7f8e\u56fd\u62b5\u62bc\u8d37\u6b3e\u5229\u7387\u8d70\u52bf\u53ca\u4e8c\u624b\u623f\u5468\u8f6c\u7387\uff08<\/span><span data-contrast=\"auto\">existing-home turnover\uff09\u3002Lowe&#8217;s <\/span><span data-contrast=\"auto\">\u51ed\u501f\u5728<\/span><span data-contrast=\"auto\">Pro<\/span><span data-contrast=\"auto\">\u9886\u57df\u7684\u6df1\u539a\u58c1\u5792\u4e0e\u7a33\u5065\u7684\u73b0\u91d1\u6d41\uff0c\u5728\u884c\u4e1a\u9006\u98ce\u4e2d\u4fdd\u6301\u4e86\u8f83\u5f3a\u7684\u9632\u5fa1\u6027\u3002\u4f46\u53d7\u5236\u4e8e\u5b8f\u89c2\u5730\u4ea7\u5468\u671f\u7684\u538b\u5236\uff0c\u5176\u77ed\u671f\u589e\u957f\u4e0a\u9650\u4f9d\u7136\u53d7\u9650\uff0c\u5b9e\u8d28\u6027\u53cd\u8f6c\u4ecd\u9700\u7b49\u5f85\u5229\u7387\u73af\u5883\u7684\u5b9e\u8d28\u6027\u5bbd\u677e\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">205<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">235<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{&quot;335559685&quot;:720}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">The Est\u00e9e Lauder Companies Inc. (EL)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"24\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26 Revenue: <\/span><\/b><span data-contrast=\"auto\">$3.63B<\/span><span data-contrast=\"auto\">, +6.5% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$80M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"25\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">4Q26 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$0.39, beat estimates by $0.07<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"26\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">27 Guidance: <\/span><\/b><span data-contrast=\"auto\">FY27 organic sales growth is expected at 3\u20135%, while adjusted EPS is guided to US$3.10\u2013US$3.35, representing approximately 24\u201334% YoY growth and broadly above consensus of US$3.18 at the midpoint. Management also raised its FY27 adjusted operating-margin outlook to 12.7\u201313.5% from the preliminary 12.5\u201313.0% range provided in May.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"27\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was a strong beat-and-raise quarter and arguably the clearest evidence yet that Est\u00e9e Lauder&#8217;s turnaround is gaining traction. Organic sales grew 5%, China returned as a meaningful growth contributor, and premium fragrances such as Le Labo and Tom Ford remained strong. The Beauty Reimagined programme is also beginning to translate revenue recovery into earnings growth, with restructuring benefits and better cost discipline supporting a significant FY27 margin recovery. The key question is sustainability. Makeup remains relatively weak and Hair Care declined, while tariffs, geopolitical disruption and continued restructuring create execution risk. Nevertheless, the combination of accelerating organic sales, improving China demand and a higher operating-margin outlook materially improves the earnings setup. The FY27 EPS guide implies that earnings should grow substantially faster than revenue, making margin delivery the key determinant of further upside. Shares surged approximately 16% following the earnings release. The principal variables to monitor are China and Asia-Pacific sales growth, Fragrance momentum, Makeup recovery, gross margin, restructuring savings and progress toward the 12.7\u201313.5% FY27 operating-margin target. Fundamentals have inflected positively, although the sharp post-earnings rerating means the risk\/reward is less attractive if chasing immediately after the move. <\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $90 to $110. Positive Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">\u96c5\u8bd7\u5170\u9edb\uff08EL<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"21\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">36.3\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f6.5%\uff0c\u8d85\u51fa\u9884\u671f8000\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"22\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.39\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"23\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">27\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u9884\u8ba1\u6709\u673a\u9500\u552e\u589e\u957f3%\u20135%\uff1b\u8c03\u6574\u540eEPS\u6307\u5f15\u4e3a3.10\u20133.35\u7f8e\u5143\uff08\u9690\u542b\u540c\u6bd4\u589e\u957f24%\u201334%\uff09\uff0c\u9ad8\u4e8e\u5e02\u573a\u5171\u8bc6\u4e2d\u503c\u76843.18\u7f8e\u5143\uff1b\u4e0a\u8c0327\u8d22\u5e74\u8c03\u6574\u540e\u8425\u4e1a\u5229\u6da6\u7387\u6307\u5f15\u81f312.7%\u201313.5%\uff085\u6708\u4efd\u7ed9\u51fa\u7684\u521d\u6b65\u9884\u671f\u4e3a12.5%\u201313.0%\uff09\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"24\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5448\u73b0\u5f3a\u52b2\u7684\u201c\u8d85\u9884\u671f+\u4e0a\u8c03\u6307\u5f15\u201d\u6001\u52bf\uff0c\u63d0\u4f9b\u4e86\u8fc4\u4eca\u4e3a\u6b62\u6700\u6e05\u6670\u7684\u8bc1\u636e\uff0c\u8868\u660e\u96c5\u8bd7\u5170\u9edb\u7684\u201c\u91cd\u5851\u7f8e\u5986\u201d\uff08Beauty Reimagined\uff09\u8f6c\u578b\u8ba1\u5212\u6b63\u53d6\u5f97\u5b9e\u8d28\u6027 traction\u3002\u6709\u673a\u9500\u552e\u589e\u957f5%\uff0c\u4e2d\u56fd\u5e02\u573a\u91cd\u65b0\u6210\u4e3a\u91cd\u8981\u7684\u589e\u957f\u5f15\u64ce\uff0cLe Labo\u548cTom Ford\u7b49\u9ad8\u7aef\u9999\u6c34\u54c1\u724c\u8868\u73b0\u4f9d\u7136\u5f3a\u52b2\u3002\u66f4\u4ee4\u5e02\u573a\u632f\u594b\u7684\u662f\uff0c\u91cd\u7ec4\u7ea2\u5229\u4e0e\u4e25\u683c\u7684\u6210\u672c\u7ba1\u63a7\u6b63\u5207\u5b9e\u5c06\u201c\u8425\u6536\u590d\u82cf\u201d\u8f6c\u5316\u4e3a\u201c\u76c8\u5229\u8dc3\u5347\u201d\u3002\u7ba1\u7406\u5c42\u5927\u5e45\u4e0a\u8c03\u4e86\u5229\u6da6\u7387\u6307\u5f15\uff0c\u610f\u5473\u7740\u76c8\u5229\u589e\u901f\u5c06\u663e\u8457\u5feb\u4e8e\u8425\u6536\u589e\u901f\uff0c\u5229\u6da6\u7387\u7684\u4fee\u590d\u4ea4\u4ed8\u5c06\u6210\u4e3a\u63a8\u52a8\u4f30\u503c\u8fdb\u4e00\u6b65\u4e0a\u884c\u7684\u6838\u5fc3\u52a8\u529b\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u98d9\u6da8\u7ea616%\uff0c\u53cd\u6620\u4e86\u8d44\u91d1\u5bf9\u57fa\u672c\u9762\u8fce\u6765\u5b9e\u8d28\u6027\u62d0\u70b9\u7684\u9ad8\u5ea6\u8ba4\u53ef\u3002\u7136\u800c\uff0c\u6838\u5fc3\u6311\u6218\u5728\u4e8e\u590d\u82cf\u7684\u5168\u9762\u6027\u4e0e\u53ef\u6301\u7eed\u6027\uff1a\u5f69\u5986\u54c1\u7c7b\u4f9d\u7136\u76f8\u5bf9\u75b2\u8f6f\uff0c\u62a4\u53d1\u4e1a\u52a1\u51fa\u73b0\u4e0b\u6ed1\uff1b\u540c\u65f6\uff0c\u6f5c\u5728\u7684\u5173\u7a0e\u98ce\u9669\u3001\u5730\u7f18\u653f\u6cbb\u6270\u52a8\u4ee5\u53ca\u6301\u7eed\u7684\u5185\u90e8\u91cd\u7ec4\uff0c\u4ecd\u4e3a\u5b9e\u9645\u6267\u884c\u5e26\u6765\u4e0d\u786e\u5b9a\u6027\u3002\u6b64\u5916\uff0c\u8d22\u62a5\u540e\u7684\u5927\u5e45\u4f30\u503c\u91cd\u4f30\uff08rerating\uff09\u610f\u5473\u7740\u77ed\u671f\u5185\u7acb\u5373\u8ffd\u9ad8\u7684\u98ce\u9669\u6536\u76ca\u6bd4\u5df2\u6709\u6240\u964d\u4f4e\uff0c\u9700\u8981\u540e\u7eed\u7684\u4e1a\u7ee9\u5151\u73b0\u6765\u6d88\u5316\u4f30\u503c\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09\u4e2d\u56fd\u53ca\u4e9a\u592a\u533a\u9500\u552e\u589e\u957f\u7684\u6301\u7eed\u6027\uff1b\uff082\uff09\u9ad8\u7aef\u9999\u6c34\u54c1\u7c7b\u7684\u589e\u957f\u52a8\u80fd\uff1b\uff083\uff09\u5f69\u5986\u4e1a\u52a1\u7684\u89e6\u5e95\u590d\u82cf\u8fdb\u5ea6\uff1b\uff084\uff09\u6bdb\u5229\u7387\u7684\u6539\u5584\u8f68\u8ff9\uff1b\uff085\uff09\u91cd\u7ec4\u8ba1\u5212\u5e26\u6765\u7684\u5b9e\u9645\u6210\u672c\u8282\u7ea6\uff1b\uff086\uff0912.7%\u201313.5%\u8425\u4e1a\u5229\u6da6\u7387\u76ee\u6807\u7684\u6700\u7ec8\u5151\u73b0\u60c5\u51b5\u3002\u96c5\u8bd7\u5170\u9edb\u7684\u57fa\u672c\u9762\u5df2\u786e\u8ba4\u79ef\u6781\u62d0\u70b9\uff0c\u76c8\u5229\u80fd\u89c1\u5ea6\u5927\u5e45\u63d0\u5347\u3002\u5c3d\u7ba1\u77ed\u671f\u80a1\u4ef7\u5df2\u8ba1\u5165\u4e86\u90e8\u5206\u4e50\u89c2\u9884\u671f\uff0c\u4f46\u4f5c\u4e3a\u5168\u7403\u9ad8\u7aef\u7f8e\u5986\u9f99\u5934\uff0c\u5176\u957f\u671f\u7684\u54c1\u724c\u58c1\u5792\u4e0e\u5229\u6da6\u4fee\u590d\u7a7a\u95f4\u4f9d\u7136\u5e7f\u9614\u3002<\/span><b><span data-contrast=\"auto\">\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a90\u7f8e\u5143\u81f3110\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{&quot;335559685&quot;:720}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Viking Holdings Ltd (VIK)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"28\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue: <\/span><\/b><span data-contrast=\"auto\">$2.19B<\/span><span data-contrast=\"auto\">, +16.5% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$50M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"29\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$1.31, beat estimates by $0.07<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"30\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26 Guidance: <\/span><\/b><span data-contrast=\"auto\">Management maintained a constructive outlook, supported by strong forward bookings and pricing. The key positive remains booking visibility into 2027, following 2026 advanced bookings running ahead of the prior year and 2027 bookings building at an even faster pace earlier in the year.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"31\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was another strong quarter. Revenue increased 16.5%, adjusted EBITDA grew 18.2%, and EPS exceeded expectations, reinforcing that Viking continues to combine capacity expansion with strong pricing and occupancy. The differentiated destination-focused model, affluent customer base and limited reliance on younger mass-market consumers also leave Viking relatively insulated from some of the discretionary-spending pressure affecting broader travel and leisure. The key issue is valuation rather than operating momentum. Ahead of earnings, VIK had risen approximately 37% YTD and traded near 30x forward earnings, a substantial premium to the broader cruise sector. This leaves the stock increasingly dependent on continued double-digit growth, strong net yields and sustained 2027 booking momentum. Any normalization in pricing or booking curves could therefore drive meaningful multiple compression. Shares initially rose approximately 2.8% in pre-market trading following the earnings release. The principal variables to monitor are 2027 advance bookings, net yields, occupancy, fleet capacity growth, adjusted EBITDA margins and leverage. <\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $85 to $115. Neutral Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Viking Holdings Ltd\uff08VIK<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"25\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">21.9<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">16.5%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">5000<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"26\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">1.31<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.07<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"27\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u7ba1\u7406\u5c42\u7ef4\u6301\u79ef\u6781\u5c55\u671b\uff0c\u4e3b\u8981\u53d7\u5f3a\u52b2\u7684\u524d\u77bb\u9884\u8ba2\u91cf\u4e0e\u5b9a\u4ef7\u80fd\u529b\u652f\u6491\u3002\u6700\u5927\u7684\u4eae\u70b9\u5728\u4e8e\u76f4\u81f3<\/span><span data-contrast=\"auto\">2027<\/span><span data-contrast=\"auto\">\u5e74\u7684\u6781\u9ad8\u8ba2\u5355\u80fd\u89c1\u5ea6\uff1a<\/span><span data-contrast=\"auto\">2026<\/span><span data-contrast=\"auto\">\u5e74\u7684\u63d0\u524d\u9884\u8ba2\u91cf\u5df2\u8d85\u8d8a\u53bb\u5e74\u540c\u671f\uff0c\u800c<\/span><span data-contrast=\"auto\">2027<\/span><span data-contrast=\"auto\">\u5e74\u7684\u9884\u8ba2\u91cf\u5728\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\u66f4\u662f\u4ee5\u66f4\u5feb\u7684\u901f\u5ea6\u7d2f\u79ef\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"28\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u5ef6\u7eed\u4e86\u5f3a\u52b2\u7684\u589e\u957f\u52bf\u5934\u3002\u8425\u6536\u589e\u957f<\/span><span data-contrast=\"auto\">16.5%<\/span><span data-contrast=\"auto\">\uff0c\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EBITDA<\/span><span data-contrast=\"auto\">\u589e\u957f<\/span><span data-contrast=\"auto\">18.2%\uff0cEPS<\/span><span data-contrast=\"auto\">\u8d85\u9884\u671f\uff0c\u5370\u8bc1\u4e86<\/span><span data-contrast=\"auto\">Viking<\/span><span data-contrast=\"auto\">\u5728\u6269\u5145\u8239\u961f\u4ea7\u80fd\u7684\u540c\u65f6\uff0c\u4f9d\u7136\u80fd\u7ef4\u6301\u5f3a\u52b2\u7684\u5b9a\u4ef7\u6743\u4e0e\u9ad8\u8f7d\u5ba2\u7387\u3002\u5176\u6838\u5fc3\u62a4\u57ce\u6cb3\u5728\u4e8e\u5dee\u5f02\u5316\u7684\u201c\u805a\u7126\u76ee\u7684\u5730\u201d\u6df1\u5ea6\u6e38\u6a21\u5f0f\u4e0e\u9ad8\u51c0\u503c\u5ba2\u7fa4\u5b9a\u4f4d\uff0c\u4e14\u5bf9\u5e74\u8f7b\u5927\u4f17\u5e02\u573a\u6d88\u8d39\u8005\u7684\u4f9d\u8d56\u5ea6\u6781\u4f4e\u3002\u8fd9\u4f7f\u5f97<\/span><span data-contrast=\"auto\">Viking<\/span><span data-contrast=\"auto\">\u5728\u5b8f\u89c2\u6d88\u8d39\u627f\u538b\u7684\u73af\u5883\u4e0b\uff0c\u80fd\u591f\u6709\u6548\u62b5\u5fa1\u5e7f\u6cdb\u65c5\u6e38\u4e0e\u4f11\u95f2\u884c\u4e1a\u9762\u4e34\u7684\u201c\u975e\u5fc5\u9700\u54c1\u652f\u51fa\u7f29\u51cf\u201d\u98ce\u9669\uff0c\u5c55\u73b0\u51fa\u6781\u5f3a\u7684\u6297\u5468\u671f\u97e7\u6027\u3002\u7136\u800c\uff0c\u5f53\u524d\u7684\u6838\u5fc3\u535a\u5f08\u70b9\u5728\u4e8e\u201c\u4f30\u503c\u201d\u800c\u975e\u201c\u8fd0\u8425\u52a8\u80fd\u201d\u3002\u8d22\u62a5\u53d1\u5e03\u524d\uff0c<\/span><span data-contrast=\"auto\">VIK<\/span><span data-contrast=\"auto\">\u5e74\u5185\u80a1\u4ef7\u5df2\u5927\u6da8\u7ea6<\/span><span data-contrast=\"auto\">37%<\/span><span data-contrast=\"auto\">\uff0c\u524d\u77bb\u5e02\u76c8\u7387\uff08<\/span><span data-contrast=\"auto\">forward P\/E<\/span><span data-contrast=\"auto\">\uff09\u9ad8\u8fbe\u8fd1<\/span><span data-contrast=\"auto\">30<\/span><span data-contrast=\"auto\">\u500d\uff0c\u4eab\u6709\u8fdc\u8d85\u540c\u4e1a\u90ae\u8f6e\u516c\u53f8\u7684\u5de8\u5927\u4f30\u503c\u6ea2\u4ef7\u3002\u8fd9\u610f\u5473\u7740\u80a1\u4ef7\u5df2\u9ad8\u5ea6\u8ba1\u5165\u4e86\u201c\u6301\u7eed\u53cc\u4f4d\u6570\u589e\u957f\u3001\u5f3a\u52b2\u51c0\u6536\u76ca\u7387\uff08<\/span><span data-contrast=\"auto\">net yields<\/span><span data-contrast=\"auto\">\uff09\u53ca<\/span><span data-contrast=\"auto\">2027<\/span><span data-contrast=\"auto\">\u5e74\u9884\u8ba2\u706b\u7206\u201d\u7684\u5b8c\u7f8e\u9884\u671f\u3002\u672a\u6765\uff0c\u4efb\u4f55\u5b9a\u4ef7\u80fd\u529b\u7684\u8fb9\u9645\u8d70\u5f31\u6216\u9884\u8ba2\u66f2\u7ebf\u7684\u5e38\u6001\u5316\u56de\u5f52\uff0c\u90fd\u53ef\u80fd\u5f15\u53d1\u5267\u70c8\u7684\u4f30\u503c\u500d\u6570\u538b\u7f29\uff08<\/span><span data-contrast=\"auto\">multiple compression<\/span><span data-contrast=\"auto\">\uff09\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u76d8\u524d\u6e29\u548c\u4e0a\u6da8\u7ea6<\/span><span data-contrast=\"auto\">2.8%<\/span><span data-contrast=\"auto\">\uff0c\u663e\u793a\u5e02\u573a\u8ba4\u53ef\u5176\u57fa\u672c\u9762\uff0c\u4f46\u5bf9\u9ad8\u4f30\u503c\u4fdd\u6301\u514b\u5236\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1\uff092027<\/span><span data-contrast=\"auto\">\u5e74\u63d0\u524d\u9884\u8ba2\u91cf\u7684\u589e\u901f\u4e0e\u4ef7\u683c\u8d8b\u52bf\uff1b\uff08<\/span><span data-contrast=\"auto\">2<\/span><span data-contrast=\"auto\">\uff09\u51c0\u6536\u76ca\u7387\uff08<\/span><span data-contrast=\"auto\">Net Yields\uff09\uff1b\uff083<\/span><span data-contrast=\"auto\">\uff09\u65b0\u8239\u4ea4\u4ed8\u540e\u7684\u8f7d\u5ba2\u7387\u4e0e\u4ea7\u80fd\u6d88\u5316\u60c5\u51b5\uff1b\uff08<\/span><span data-contrast=\"auto\">4<\/span><span data-contrast=\"auto\">\uff09\u8c03\u6574\u540e<\/span><span data-contrast=\"auto\">EBITDA<\/span><span data-contrast=\"auto\">\u5229\u6da6\u7387\u7684\u6269\u5f20\u6f5c\u529b\uff1b\uff08<\/span><span data-contrast=\"auto\">5<\/span><span data-contrast=\"auto\">\uff09\u8d44\u4ea7\u8d1f\u503a\u8868\u53bb\u6760\u6746\u8fdb\u5ea6\u3002<\/span><span data-contrast=\"auto\">Viking<\/span><span data-contrast=\"auto\">\u51ed\u501f\u9ad8\u7aef\u5b9a\u4f4d\u4e0e\u5353\u8d8a\u7684\u6267\u884c\u529b\uff0c\u5728\u90ae\u8f6e\u884c\u4e1a\u4e2d\u8d70\u51fa\u4e86\u72ec\u7acb\u7684\u9ad8\u589e\u957f\u884c\u60c5\uff0c\u57fa\u672c\u9762\u6781\u4e3a\u4f18\u5f02\u3002\u4f46\u6781\u9ad8\u7684\u4f30\u503c\u6ea2\u4ef7\u8981\u6c42\u5176\u5728\u672a\u6765\u51e0\u4e2a\u5b63\u5ea6\u5fc5\u987b\u4fdd\u6301\u5b8c\u7f8e\u7684\u8fd0\u8425\u4ea4\u4ed8\uff0c\u77ed\u671f\u5bb9\u9519\u7387\u8f83\u4f4e\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">85<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">115<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{&quot;335559685&quot;:720}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Webull Corporation (BULL)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"32\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Revenue: <\/span><\/b><span data-contrast=\"auto\">$198.83M<\/span><span data-contrast=\"auto\">, +51.2% YoY, beat estimates by <\/span><span data-contrast=\"auto\">$18.1M<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"33\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">2Q26 Non-GAAP EPS<\/span><\/b><span data-contrast=\"auto\">: <\/span><span data-contrast=\"auto\">$0.12, beat estimates by $0.09<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"34\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">FY<\/span><\/b><b><span data-contrast=\"auto\">26 Guidance: <\/span><\/b><span data-contrast=\"auto\">No explicit guidance from company.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"35\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Dividends\/ Share Buybacks: <\/span><\/b><span data-contrast=\"auto\">Repurchased and cancelled approximately 1.82M Class A shares during the quarter at an average price of US$6.03\/share, implying roughly US$11M of repurchases.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"36\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Comment: <\/span><\/b><span data-contrast=\"auto\">This was an exceptionally strong quarter. Revenue increased 51% while adjusted operating expenses rose only 26%, driving adjusted operating profit up 169%. The most important catalyst was the elimination of the Pattern Day Trader Rule, which contributed to record trading activity, with DARTs increasing 62% YoY to 1.6M. Funded accounts grew 8% to 5.13M and registered users reached 28.2M, while international funded accounts increased to approximately 810,000. The key issue is earnings durability. Webull remains highly exposed to retail trading activity and market volatility, meaning the current revenue and margin trajectory could normalize if trading volumes cool. Customer assets rose 79%, but net deposits increased only 7%, indicating that part of the AUM growth reflects market appreciation rather than purely organic inflows. Continued spending on international expansion, institutional capabilities and AI could also limit operating leverage if revenue growth decelerates. Shares rose approximately 9% following the earnings release, after trading as high as US$9.99 intraday. The principal variables to monitor are DARTs, equity and options volumes, customer net deposits, funded-account growth, post-PDT-rule engagement, international monetisation and adjusted operating margin. <\/span><b><span data-contrast=\"auto\">3Q26 recommended trading range: $9 to $14. Positive Outlook.<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Webull Corporation\uff08BULL<\/span><\/b><b><span data-contrast=\"auto\">)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"29\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\uff1a<\/span><\/b><span data-contrast=\"auto\">1.988<\/span><span data-contrast=\"auto\">\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f<\/span><span data-contrast=\"auto\">51.2%<\/span><span data-contrast=\"auto\">\uff0c\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">1810<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"30\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/span><\/b><span data-contrast=\"auto\">0.12<\/span><span data-contrast=\"auto\">\u7f8e\u5143\uff0c\u663e\u8457\u8d85\u51fa\u9884\u671f<\/span><span data-contrast=\"auto\">0.09<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"31\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/span><\/b><span data-contrast=\"auto\">\u516c\u53f8\u672a\u63d0\u4f9b\u660e\u786e\u4e1a\u7ee9\u6307\u5f15<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"32\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u80a1\u606f\u4e0e\u56de\u8d2d\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u56de\u8d2d\u5e76\u6ce8\u9500\u7ea6<\/span><span data-contrast=\"auto\">182<\/span><span data-contrast=\"auto\">\u4e07\u80a1<\/span><span data-contrast=\"auto\">A<\/span><span data-contrast=\"auto\">\u7c7b\u80a1\uff0c\u5e73\u5747\u56de\u8d2d\u4ef7\u683c\u7ea6<\/span><span data-contrast=\"auto\">6.03<\/span><span data-contrast=\"auto\">\u7f8e\u5143<\/span><span data-contrast=\"auto\">\/<\/span><span data-contrast=\"auto\">\u80a1\uff0c\u5408\u8ba1\u6295\u5165\u7ea6<\/span><span data-contrast=\"auto\">1100<\/span><span data-contrast=\"auto\">\u4e07\u7f8e\u5143<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"33\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">\u77ed\u8bc4\uff1a<\/span><\/b><span data-contrast=\"auto\">\u672c\u5b63\u5ea6\u8868\u73b0\u6781\u4e3a\u5f3a\u52b2\uff0c\u5c55\u73b0\u51fa\u663e\u8457\u7684\u8fd0\u8425\u6760\u6746\u6548\u5e94\u3002\u8425\u6536\u5927\u589e<\/span><span data-contrast=\"auto\">51%<\/span><span data-contrast=\"auto\">\uff0c\u800c\u8c03\u6574\u540e\u8fd0\u8425\u8d39\u7528\u4ec5\u589e\u957f<\/span><span data-contrast=\"auto\">26%<\/span><span data-contrast=\"auto\">\uff0c\u63a8\u52a8\u8c03\u6574\u540e\u8fd0\u8425\u5229\u6da6\u540c\u6bd4\u98d9\u5347<\/span><span data-contrast=\"auto\">169%<\/span><span data-contrast=\"auto\">\u3002\u6700\u6838\u5fc3\u7684\u50ac\u5316\u5242\u662f<\/span><span data-contrast=\"auto\">**\u201c<\/span><span data-contrast=\"auto\">\u6a21\u5f0f\u65e5\u5185\u4ea4\u6613\u8005\u89c4\u5219\u201d<\/span><span data-contrast=\"auto\">**\uff08PDT<\/span><span data-contrast=\"auto\">\u89c4\u5219\uff09\uff0c\u76f4\u63a5\u5f15\u7206\u4e86\u521b\u7eaa\u5f55\u7684\u6563\u6237\u4ea4\u6613\u6d3b\u52a8\uff0c<\/span><span data-contrast=\"auto\">DARTs<\/span><span data-contrast=\"auto\">\uff08\u65e5\u5747\u6536\u5165\u4ea4\u6613\u7b14\u6570\uff09\u3002\u7528\u6237\u751f\u6001\u6301\u7eed\u6269\u5f20\uff1a\u6709\u8d44\u91d1\u8d26\u6237\u6570\u589e\u957f<\/span><span data-contrast=\"auto\">8%<\/span><span data-contrast=\"auto\">\u81f3<\/span><span data-contrast=\"auto\">513<\/span><span data-contrast=\"auto\">\u4e07\uff0c\u6ce8\u518c\u7528\u6237\u603b\u6570\u8fbe<\/span><span data-contrast=\"auto\">2820<\/span><span data-contrast=\"auto\">\u4e07\uff0c\u5176\u4e2d\u56fd\u9645\u6709\u8d44\u91d1\u8d26\u6237\u589e\u81f3\u7ea6<\/span><span data-contrast=\"auto\">81<\/span><span data-contrast=\"auto\">\u4e07\uff0c\u5168\u7403\u5316\u5e03\u5c40\u521d\u89c1\u6210\u6548\u3002\u7136\u800c\uff0c\u6838\u5fc3\u9690\u5fe7\u5728\u4e8e\u76c8\u5229\u7684\u201c\u5468\u671f\u6027\u201d\u3002<\/span><span data-contrast=\"auto\">Webull<\/span><span data-contrast=\"auto\">\u7684\u5546\u4e1a\u6a21\u5f0f\u9ad8\u5ea6\u4f9d\u8d56\u6563\u6237\u4ea4\u6613\u6d3b\u8dc3\u5ea6\u4e0e\u5e02\u573a\u6ce2\u52a8\u6027\u3002\u82e5\u672a\u6765\u5e02\u573a\u60c5\u7eea\u964d\u6e29\u6216\u4ea4\u6613\u91cf\u56de\u843d\uff0c\u5f53\u524d\u7684\u8425\u6536\u4e0e\u5229\u6da6\u7387\u6269\u5f20\u8f68\u8ff9\u53ef\u80fd\u9762\u4e34\u5747\u503c\u56de\u5f52\u3002\u6b64\u5916\uff0c\u5ba2\u6237\u8d44\u4ea7\u867d\u5927\u589e<\/span><span data-contrast=\"auto\">79%<\/span><span data-contrast=\"auto\">\uff0c\u4f46\u51c0\u5b58\u6b3e\u4ec5\u589e\u957f<\/span><span data-contrast=\"auto\">7%<\/span><span data-contrast=\"auto\">\uff0c\u8868\u660e\u8d44\u4ea7\u89c4\u6a21\u7684\u6269\u5f20\u5f88\u5927\u7a0b\u5ea6\u4e0a\u6e90\u4e8e\u5e02\u573a\u6574\u4f53\u5347\u503c\uff0c\u800c\u975e\u7eaf\u7cb9\u7684\u65b0\u589e\u8d44\u91d1\u6d41\u5165\uff0c\u8fd9\u524a\u5f31\u4e86\u5ba2\u6237\u9ecf\u6027\u7684\u4fe1\u53f7\u5f3a\u5ea6\u3002\u540c\u65f6\uff0c\u516c\u53f8\u5728\u56fd\u9645\u6269\u5f20\u3001\u673a\u6784\u4e1a\u52a1\u5efa\u8bbe\u53ca<\/span><span data-contrast=\"auto\">AI<\/span><span data-contrast=\"auto\">\u6280\u672f\u4e0a\u7684\u6301\u7eed\u6295\u5165\uff0c\u82e5\u906d\u9047\u8425\u6536\u589e\u901f\u653e\u7f13\uff0c\u5c06\u9650\u5236\u5176\u8fd0\u8425\u6760\u6746\u7684\u8fdb\u4e00\u6b65\u91ca\u653e\u3002\u8d22\u62a5\u540e\u80a1\u4ef7\u4e0a\u6da8\u7ea6<\/span><span data-contrast=\"auto\">9%<\/span><span data-contrast=\"auto\">\uff0c\u76d8\u4e2d\u4e00\u5ea6\u89e6\u53ca<\/span><span data-contrast=\"auto\">9.99<\/span><span data-contrast=\"auto\">\u7f8e\u5143\u9ad8\u4f4d\uff0c\u5e02\u573a\u5bf9\u5176\u9ad8\u5f39\u6027\u4e0e\u4f4e\u6210\u672c\u8fd0\u8425\u7ed3\u6784\u7ed9\u4e88\u4e86\u79ef\u6781\u5b9a\u4ef7\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff08<\/span><span data-contrast=\"auto\">1\uff09DARTs<\/span><span data-contrast=\"auto\">\u53ca\u80a1\u7968<\/span><span data-contrast=\"auto\">\/<\/span><span data-contrast=\"auto\">\u671f\u6743\u4ea4\u6613\u91cf\u7684\u6301\u7eed\u6027\uff1b\uff08<\/span><span data-contrast=\"auto\">2<\/span><span data-contrast=\"auto\">\uff09\u5ba2\u6237\u51c0\u5b58\u6b3e\u7684\u6709\u673a\u589e\u957f\u80fd\u529b\uff1b\uff08<\/span><span data-contrast=\"auto\">3<\/span><span data-contrast=\"auto\">\uff09\u6709\u8d44\u91d1\u8d26\u6237\u7684\u6269\u5f20\u901f\u5ea6\uff1b\uff08<\/span><span data-contrast=\"auto\">4\uff09PDT<\/span><span data-contrast=\"auto\">\u89c4\u5219\u53d6\u6d88\u540e\u6563\u6237\u4ea4\u6613\u4e60\u60ef\u7684\u957f\u671f\u7559\u5b58\u7387\uff1b\uff08<\/span><span data-contrast=\"auto\">5<\/span><span data-contrast=\"auto\">\uff09\u56fd\u9645\u5e02\u573a\u7684\u5546\u4e1a\u5316\u53d8\u73b0\u8fdb\u5ea6\uff1b\uff08<\/span><span data-contrast=\"auto\">6<\/span><span data-contrast=\"auto\">\uff09\u8c03\u6574\u540e\u8fd0\u8425\u5229\u6da6\u7387\u7684\u7a33\u5b9a\u6027\u3002<\/span><span data-contrast=\"auto\">Webull<\/span><span data-contrast=\"auto\">\u51ed\u501f\u8f7b\u8d44\u4ea7\u3001\u4f4e\u4f63\u91d1\u53ca\u9ad8\u79d1\u6280\u9a71\u52a8\u7684\u8fd0\u8425\u6a21\u5f0f\uff0c\u5728\u6563\u6237\u4ea4\u6613\u590d\u82cf\u5468\u671f\u4e2d\u5c55\u73b0\u51fa\u6781\u5f3a\u7684\u76c8\u5229\u5f39\u6027\u3002\u4f46\u4f5c\u4e3a\u5178\u578b\u7684\u201c\u5e02\u573a\u8d1d\u5854\u201d\u6807\u7684\uff0c\u5176\u4e1a\u7ee9\u9ad8\u5ea6\u7ed1\u5b9a\u5b8f\u89c2\u6d41\u52a8\u6027\u4e0e\u4ea4\u6613\u60c5\u7eea\uff0c\u9700\u8b66\u60d5\u5468\u671f\u53cd\u8f6c\u98ce\u9669\u3002<\/span><b><span data-contrast=\"auto\">26<\/span><\/b><b><span data-contrast=\"auto\">\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/span><\/b><b><span data-contrast=\"auto\">9<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u81f3<\/span><\/b><b><span data-contrast=\"auto\">14<\/span><\/b><b><span data-contrast=\"auto\">\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f<\/span><\/b><span data-contrast=\"auto\">\u3002<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6ff17fbc e-con e-atomic-element e-flexbox-base e-6ff17fbc-c4ddb64 \" data-id=\"6ff17fbc\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"6ff17fbc\" data-e-type=\"e-flexbox\" data-id=\"6ff17fbc\">\n    \t\t\t<p class=\"e-262c95ac-f5069e1 e-paragraph-base\" data-interaction-id=\"262c95ac\" data-e-type=\"widget\" data-id=\"262c95ac\"><a target=\"_self\" href=\"#top\" id=\"e-mq4jsug1-z6kdzol\">^ Back to Top<\/a><\/p>\n\t\t\n<\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>TECHNICAL ANALYSIS SINGAPORE \u00a0|\u00a0 HONG KONG \u00a0|\u00a0 UNITED STATES\u00a0\u00a0|\u00a0\u00a0EARNINGS Singapore UOBKH SP UOB-Kay Hian Holdings Limited. Shares closed on the 5dEMA.\u00a0 Both RSI is and MACD are constructive.\u00a0 Buy \u2013 Entry 4.2, Target 4.8, Stop 3.9\u00a0 STH SP Starhub Ltd. Shares closed above the 5dEMA with elevated volume.\u00a0 RSI is at overbought levels but MACD [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-93590","post","type-post","status-publish","format-standard","hentry","category-technical-analysis"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"TECHNICAL ANALYSIS Technical Analysis: 20 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore UOBKH SP UOB-Kay Hian Holdings Limited. Shares closed on the 5dEMA. Both RSI is and MACD are constructive. Buy \u2013 Entry 4.2, Target 4.8, Stop 3.9 STH SP Starhub Ltd. Shares closed above the 5dEMA with elevated volume. RSI is\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Enya Tan\"\/>\n\t<meta name=\"keywords\" content=\"technical analysis\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.kgieworld.sg\/research\/technical-analysis-20-august-2026\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 5.0.0.1\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"KGI Singapore Research \u2022 Singapore&#039;s leading broker offering Futures, FX, Equities and Wealth Management.\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"Technical Analysis: 20 August 2026 \u2022 KGI Singapore Research\" \/>\n\t\t<meta property=\"og:description\" content=\"TECHNICAL ANALYSIS Technical Analysis: 20 August 2026 SINGAPORE | HONG KONG | UNITED STATES | EARNINGS Singapore UOBKH SP UOB-Kay Hian Holdings Limited. Shares closed on the 5dEMA. Both RSI is and MACD are constructive. Buy \u2013 Entry 4.2, Target 4.8, Stop 3.9 STH SP Starhub Ltd. Shares closed above the 5dEMA with elevated volume. 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Shares closed on the 5dEMA. Both RSI is and MACD are constructive. Buy \u2013 Entry 4.2, Target 4.8, Stop 3.9 STH SP Starhub Ltd. Shares closed above the 5dEMA with elevated volume. 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