JPMorgan, Goldman Sachs See More Upside for South African Stocks
South African stocks are poised to extend their rally in the second half, buoyed by an improving outlook for the domestic economy and supportive monetary policy, according to JPMorgan Chase & Co.
The FTSE/JSE Africa All Share Index is up 23% this year in dollar terms, outperforming both the MSCI Emerging Markets Index and the S&P 500. JPMorgan expects the momentum to continue led by South Africa Inc. shares as they stand to benefit from local economic tailwinds.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
32 minutes ago
- Yahoo
JPMorgan Lowers PT on Criteo S.A. (CRTO) to $27 from $39, Keeps a Neutral Rating
Criteo S.A. (NASDAQ:CRTO) is one of the best cheap stocks with huge upside potential. On May 5, JPMorgan lowered the firm's price target on Criteo S.A. (NASDAQ:CRTO) to $27 from $39, keeping a Neutral rating on the shares. A graphic designer in front of a computer rendering a cutting edge digital advertisement for the company. The firm told investors in a research note that Criteo S.A. (NASDAQ:CRTO) reported a 'modest' CexT upside and a 'healthy' adjusted EBITDA profit in fiscal Q1 2025. However, it added that the company slashed its 2025 CexT guidance primarily because of a shift in retail media strategy from two clients and limited macro visibility. The firm also supported the rating by stating that Uber Eats will no longer partner with Criteo S.A. (NASDAQ:CRTO) in the US following Q3, and that the company's largest retail media partner is discontinuing managed services and curtailing the rest of the brand demand sales services in November. Criteo S.A. (NASDAQ:CRTO) is a France-based company that specializes in digital performance marketing. Its solution comprises its data assets, the Criteo Engine, its advertiser and publisher platforms, and access to inventory. Criteo Engine delivers advertisements through various marketing formats and channels, including native advertising banners, display advertising banners, and more. It operates in around 90 countries and has more than 30 international offices across the Americas, Europe, and the Asia-Pacific regions. While we acknowledge the potential of CRTO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. 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
2 hours ago
- Yahoo
Tom Lee: Ethereum, Not Solana, Is The 'Preferred Choice' For JP Morgan, Robinhood, Circle To Build On
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Ethereum's (CRYPTO: ETH) dominance in the tokenized finance sector isn't slowing down and according to Fundstrat's Tom Lee, it has already become Wall Street's go-to blockchain infrastructure, leaving Solana (CRYPTO: SOL) behind in key institutional use cases. Speaking to CNBC on Thursday, Lee made it clear that Ethereum's recent outperformance and adoption by financial giants point to a deeper shift. "There is really a rediscovery of Ethereum taking place," he said, citing its role in powering stablecoins and tokenized assets that now account for more than 60% of Ethereum's network usage. Don't Miss: Tired of Grid Failures and Charging Deserts? This Startup Has a Solar Fix and $25M+ in Sales — Now Raising at $3/Share Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. Lee emphasized Ethereum's position as a technology platform, not just a digital asset like Bitcoin. "Ethereum is like the preferred choice for Wall Street. It already is more than 60% of all the tokenized real-world assets, and that share is growing," he explained. With entities like JPMorgan (NYSE:JPM) and Robinhood (NASDAQ:HOOD) building stablecoin and tokenization infrastructure on Ethereum, the trend appears to be solidifying. When asked whether Solana could disrupt Ethereum's lead, Lee acknowledged the competition but pointed to adoption patterns. "JP Morgan's stablecoin is built on Ethereum. Robinhood is building their tokenizing business on Ethereum. As a layer one, Ethereum is already entrenched." He also pointed to macro growth drivers, noting that Treasury Secretary Janet Yellen's projection of stablecoins surpassing $2 trillion in value would massively expand Ethereum's usage footprint. Lee's remarks come amid broader institutional interest in Ethereum, including from his own company, Bitmine Emergent Technologies (AMEX:BMNR), where he now serves as chairman. Bitmine has raised significant capital to acquire Ether, betting on its long-term role in the financial system. Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — And You Can Invest At Just $6.37/Share If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image: Shutterstock This article Tom Lee: Ethereum, Not Solana, Is The 'Preferred Choice' For JP Morgan, Robinhood, Circle To Build On originally appeared on Sign in to access your portfolio
Bloomberg
2 hours ago
- Bloomberg
G-20 Agenda Eclipsed as Bessent Skips South Africa Meeting Again
For the second time this year, the world's most powerful finance ministers gather in South Africa without the presence of the US Treasury Secretary. Scott Bessent will skip the Group of 20 again this week, continuing a boycott of South Africa by top US officials begun by Secretary of State Marco Rubio, who stayed away out of scorn over his hosts' theme for its G20 presidency of 'Solidarity, Equality and Sustainability.'
