Big Move Speed View | Why does Wall Street recommend selling Tesla before the second quarter report? CLOUD MUSIC target price gets raised!

Guggenheim: Maintains "Sell" rating on Tesla, target price of $112

If calculated based on the latest closing price of $279.82, this price implies a 60% downside.

The bank stated that Tesla reported a fairly strong quarter in terms of deliveries, but its pricing and profit margin setup "remains negative." It advised investors to sell before the announcement of second-quarter performance and noted that the bank's expectations for automotive gross margin, excluding carbon credits, are "significantly lower" than the market consensus.

The bank believes that there are still high risks in terms of pricing and profit margins. The current valuation is too harsh for a stock with a damaged growth algorithm, and this situation may continue until the earliest possible listing of Model 2 in the 2025 fiscal year.

Morgan Stanley: Maintains "Hold" rating on Tesla, target price of $250

If calculated based on the latest closing price, this price implies an 11% downside.

The bank believes that strong delivery data will support the delivery expectations for the full year of fiscal year 2023, which is close to 1.9 million vehicles, compared to the current 1.8 million vehicles. While many market observers believe that Tesla will definitely give up market share in the electric vehicle market to its competitors, the bank sees a slow pace of new electric vehicle launches from traditional original equipment manufacturers (OEMs).

The bank believes that by 2030, the overall penetration rate of electric vehicles will increase at a slower pace, but Tesla's market share will still be higher than expected. "The electric vehicle market will become a smaller pie, but Tesla will take a larger share of it."

Morgan Stanley: Maintains "Overweight" rating on PetroChina, target price of HK$6.5

If calculated based on the latest closing price of HK$5.68, this price implies a 14% upside!

The bank believes that the stock price of PetroChina will rise within the next 15 days, with a probability as high as 70% to 80%.

The bank pointed out that Saudi Arabia announced its voluntary plan to extend the daily oil production cut of 1 million barrels until the end of August. At the same time, the Deputy Prime Minister of Russia indicated that Russia will voluntarily reduce its daily oil supply by 500,000 barrels in August. The bank believes that further supply cuts will be a positive catalyst for oil prices and will drive up the stock price of PetroChina.

Goldman Sachs: Maintains "Buy" rating on NetEase, raises target price from HK$174 to HK$182, a 5% increase

If calculated based on the latest closing price of HK$157.4, this price implies a 16% upside!

NetEase's blockbuster multiplayer online role-playing game "Justice" mobile game was officially launched on June 30 and ranked second in total revenue for Chinese mobile games in the past two days. The bank believes that despite NetEase's stock outperforming the market this year, there is still attractive upside potential. Therefore, the company has four new games to drive revenue and profit growth, the migration of payment channels to NetEase's own channels to continuously improve gross profit margin, the sustained increase in revenue from the mobile game "FWJ" and the lasting popularity of "Egg Party," as well as increased visibility of the 2024 product pipeline.

The bank stated that after a relatively stable second quarter, the company's fundamentals are expected to accelerate in the third quarter. It is estimated that the recent launch of the mobile game "Nishuihan," "Peak Speed," and the stable revenue from "Egg Party" will account for over 30% of the company's total revenue in the second half of the year.

Credit Suisse: Initiates "Buy" rating on China Duty Free, target price of HKD 243.6

Based on the latest closing price of HKD 111.2, this price implies a potential upside of 119%!

China Duty Free has initiated a membership integration campaign and adjusted member rewards with only a small price reduction. The bank believes that this move indicates a greater focus on profitability and a crackdown on daigou (overseas personal shoppers).

In addition, the management expects the duty-free policy to be announced by the end of this year or early next year. The bank believes that after the company's acquisition of China Travel Service Duty Free, it will benefit from its strong supply chain capabilities. The management aims to restore the net profit margin to previous high levels, but it will take time to integrate the supply chain to improve efficiency and optimize the organizational structure.

J.P. Morgan: Maintains "Overweight" rating on China Merchants Bank, lowers target price by 14% to HKD 60

Based on the latest closing price of HKD 37.25, this price implies a potential upside of 61%!

The bank stated that there is an increased risk to profitability in the near term. However, China Merchants Bank remains the top choice in the industry, mainly due to its high return on capital growth stock. The bank expects China Merchants Bank to achieve a capital return rate of 16.7% and a Tier 1 capital adequacy ratio of 14.1%.