Tariffs Still Causing Uncertainty In Markets: Oden
HSBC Head of Wealth and Personal Banking Racquel Oden speaks with Matt Miller and Sonali Basak on "Open Interest." (Source: Bloomberg)
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HSBC upgrades Brazil's Embraer on strong delivery outlook
--HSBC upgraded Brazilian planemaker Embraer to 'Buy' from 'Hold,' saying a record order backlog, improving output, and growing momentum in executive jets and defense deliveries support a positive earnings trajectory through this year. The brokerage raised its price target to $57 from $45, citing a higher valuation for Embraer's eVTOL unit EVE and a lower discount rate in its cash flow model. The new target implies a 24% upside from current levels. 'With an all-time high backlog of $26.4bn at end-Q1, Embraer offers strong revenue generation in the coming quarters, which is supported by accelerated efforts to remove output bottlenecks and spread production more evenly over quarters,' HSBC wrote. It expects robust second-quarter performance with nine aircraft already in finished inventory, equal to nearly 20% of last year's Q2 deliveries. HSBC forecasts a 28% year-on-year rise in executive jet deliveries in the first quarter of 2025 and sees steady demand in defense, particularly for the KC-390 and A-29 aircraft. It also flagged the upcoming Paris Air Show as a potential source of new orders. The bank said the impact of new U.S. tariffs, 10% on Brazilian imports, is likely limited, estimating a roughly 90 basis-point hit to EBIT margins in the Executive and Services segments, but noted that Embraer plans to offset these through cost cuts and increased U.S. content. Commercial aviation is unaffected, and overall 2025 margin guidance remains unchanged. HSBC maintained its 2025 revenue estimate of $7.5 billion, at the top of company guidance, and its consolidated adjusted EBIT margin forecast at 7.9%. It now values the company at 10.8x and 8.1x 2025 and 2026 EV/EBITDA respectively, versus a five-year average of 8.7x. A successful flight test of EVE's first full-scale prototype, scheduled for mid-2025, could serve as a key catalyst, the firm added. Related articles HSBC upgrades Brazil's Embraer on strong delivery outlook Goldman Sachs upgrades Brazil's XP, cuts rating on B3 on shifting risk-reward Bernstein starts coverage of entertainment stocks: Spotify and TKO at Outperform Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
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Money20/20 and FXC Intelligence Release Landmark Report on the Future of European Cross-Border Payments
Reimagining European Payments: The 2035 Roadmap AMSTERDAM, June 04, 2025--(BUSINESS WIRE)--Money20/20, the world's leading fintech show and the place where money does business, has in collaboration with FXC Intelligence, the foremost provider of cross-border payments data and insights, officially launched their joint report How Will Europe's Money Move in the Future? 2025's View of 2035." today at Money20/20 Europe in Amsterdam. The report delivers a forward-looking, data-driven analysis of how Europe's cross-border payments ecosystem is set to transform over the next decade. Based on proprietary data and interviews with over 50 European fintech leaders, the report identifies the technologies, regulatory trends, and market shifts expected to reshape Europe's financial infrastructure by 2035. The launch took place on the opening day of Money20/20 Europe, where hundreds of industry leaders, regulators, startups and innovators gathered to take part in the report's findings and engage in conversation about the future of money movement. Key Findings: Industry Priorities: 83% of leaders prioritize reducing transaction costs, while 82% focus on real-time payments expansion Technology Drivers: Real-time payments and digital wallets emerge as key transformation catalysts Market Leaders: UK, France, Germany, Netherlands, and Estonia lead innovation, with Wise (45%) and Revolut (37%) at the forefront Growth Outlook: Despite US tariffs potentially reducing projections by $1.2 trillion, sector growth remains strong "Europe is at the tipping point of a new era in money movement," said Scarlett Sieber, Chief Strategy and Growth Officer at Money20/20. "This report captures the scale of transformation underway—from real-time payments to digital wallets—and the essential role that collaboration between fintechs, regulators, and legacy institutions will play in shaping what comes next." The report reveals that 94% of industry leaders expect Europe's cross-border payment infrastructure to transform significantly by 2035. Currently dominating with 46% of global retail cross-border payments, EMEA's outbound flows are projected to reach $25.9 trillion by 2032. The report highlights five critical priorities: Reducing transaction costs (83%) Expanding real-time payments (82%) Increasing payment speeds (74%) Integrating digital wallets (73%) Enhancing transparency (70%) "This report shows that change in Europe's payments landscape will be profound yet deliberate," said Daniel Webber, CEO and Founder of FXC Intelligence. "Europe's ability to harmonize regulatory leadership with innovation gives it a powerful edge as it builds the next chapter of global payments." About the report The white paper is the second in a global series from Money20/20 and FXC Intelligence examining the evolution of cross-border payments infrastructure. Following the Asia edition released in April this year, the Europe-focused report offers a regional deep dive that also contributes to a broader global view of money movement trends. The full report is available HERE View source version on Contacts For more information please contact:TIna LoncaricGlobal Head of PRMoney20/20tina@ M:+ 1 469 288 5556 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
an hour ago
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Mayfair Said to Mull Options for Property Classified Site AtHome
Markets Deals By Save Mayfair Equity Partners is considering options for Luxembourg-based property classified site atHome Group after receiving interest from potential investors, according to people familiar with the matter. The London-based private equity firm is close to hiring a bank to help with the review, said the people, who asked not to be identified as the information isn't public. A deal could value the business at about a few hundred million euros, the people said.
