The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

0909 GMT - Telenor's current share price represents an attractive buying opportunity, despite competition concerns in the Nordics that have seen the stock lose 25% of its value this year, AlphaValue analyst Jean-Michel Salvador writes. The Norwegian telecommunications provider's share price halved in 2022 due to rising interest rates affecting the sector and investor concerns about its Asian strategy and the sustainability of dividends from those operations, he says. However, the stock rebounded over the subsequent three years, reaching new highs by the end of 2025. This recovery was driven by smart moves in Asia and the consolidation of Nordic operations, which alone should now be able to cover the dividend, he adds. AlphaValue rates Telenor at add and has a 154 Norwegian kroner target price. Shares rise 0.2% to 136.90 kroner. (dominic.chopping@wsj.com)

0853 GMT - China Resources Mixc Lifestyle Services' robust cash flow and likely 2026 dividend-per-share growth reinforces its status as a long-term holding for resilient, recurring returns, Citi analysts say in a note. The Hong Kong-listed property-management company's growth is likely to be driven by its strong execution and commercial strength, with a majority of its malls ranked high locally, they write. The analysts expect CR Mixc Lifestyle's earnings to grow more than 10% over 2026-2028 as same-store sales gain, its mall network expands and it improves its efficiency and cost savings. Citi raises its target price to 53.30 Hong Kong dollars from HK$52.13 and maintains a buy rating. Shares close 3.3% lower at HK$39.10. (megan.cheah@wsj.com)

0842 GMT - Physical oil flow through the Strait of Hormuz rather than military escalations will determine oil prices, Phillip Nova analyst Priyanka Sachdeva says in a note. After shipping activity through the Strait has already fallen sharply, oil prices are vulnerable to sharp moves in both directions, she notes. However, if tanker traffic continues and crude flows remain relatively resilient, the geopolitical premium can fade quickly, the analyst says. "Any evidence of a sustained blockage, attacks on tankers or disruption to loading terminals would fundamentally change the equation," she adds. Front-month West Texas Intermediate crude oil futures rose 2.7% to $85.63 per barrel and front-month Brent crude oil futures added 2.7% to $90.50 a barrel. (sherry.qin@wsj.com)

0813 GMT - WuXi Biologics' stronger project backlog is likely to underpin its revenue visibility, says China Galaxy International Securities' Vicky Zhu in a note. The contract research, development and manufacturing company added 169 new projects and 119 net integrated projects in 1H, while its total revenue backlog reached US$25.1 billion as of end June, she notes. The acquisition of BioDlink also contributed to the higher number of projects, she adds. She raises her 2026-2027 revenue growth estimates to around 21% and lifts her 2026-2028 earnings per share estimates by 2%-8%. China Galaxy therefore raises its target price to HK$57.82 from HK$48.62 and maintains an add rating. Shares closed 3.6% lower at HK$48.84. (megan.cheah@wsj.com)

0753 GMT - The distribution-per-unit of Singapore small-to-mid-cap real-estate investment trusts could accelerate in 2H, say DBS Group Research analysts in a note. They cite factors such as a smaller base and more pronounced benefits from declining financing costs, noting Singapore's broadly lower interest-rate benchmark. They expect small-to-mid-cap REIT DPUs to accelerate around 4% sequentially in 2H, compared with a roughly 1% growth estimate for large caps. The overall sector's DPU is likely to grow at around 3% on average on year in 2026, they add. DBS's REIT segment pecking order is office, industrial, retail and hospitality. The bank's preferred names include Centurion Accommodation REIT and NTT DC REIT. (megan.cheah@wsj.com)

0740 GMT - Apple and Samsung are expected to help sustain demand for smartphone displays through 2026, cushioning the market from a broader slowdown, according to TrendForce. The research firm says rising memory prices and supply shortages are increasing costs across the smartphone supply chain, prompting brands to take a more cautious approach to shipment planning. TrendForce forecasts global smartphone panel shipments to decline 2.5% to 2.25 billion units in 2026. Steady demand from Apple and Samsung devices, along with continued orders from repair and secondary markets, is helping support shipments. In 2Q, Chinese display giant BOE remained the top supplier with a 26.1% market share, ahead of Samsung Display and TCL CSOT. (jie.yang@wsj.com)

0740 GMT - Meituan's food delivery business is likely to continue to improve, according to HSBC analysts in a research note. "The pace at which Meituan's food delivery loss has improved in 2Q surprised on the upside," they note. While order growth could turn negative year-over-year in 3Q on a high base of comparison, continued average order value improvement can drive better unit economics as Meituan continues to rein in user subsidies, the bank says. HSBC keeps a buy rating and raises its target price for Meituan to 110.00 Hong Kong dollars from HK$104.00. Shares last traded at HK$79.05. (tracy.qu@wsj.com)

0738 GMT - Japan's nominal neutral rate likely lies at 1.75%, higher than the previously estimated 1.5%, given persistent yen weakness has pushed up inflation expectations, says Oxford Economics economist Shigeto Nagai. The rate will then likely decline gradually toward 1.5% in 2028 as inflation expectations edge down alongside the stabilization of the yen, he says. His new projection falls close to the midpoint of the Bank of Japan's estimated range for the neutral rate. "If the FX markets continue to demand faster rate hikes, then the BOJ would face a serious dilemma regarding whether it can risk excessive tightening to contain yen weakening pressures," he says. (megumi.fujikawa@wsj.com)

0719 GMT - Toyota Motor has the characteristics required to establish a meaningful presence in robotics, Goldman Sachs says in a note. Those include urgency in addressing supply-chain pressures associated with the shift to electric vehicles, hardware and software technology and management's positioning of robotics as a growth strategy. Continuous advancements in physical artificial intelligence are accelerating the development of humanoid robots, the U.S. bank says. The automotive industry is uniquely positioned to support the mass production of humanoid robots, the bank says. Toyota could produce about 190,000 to 540,000 humanoid robot units in 2035, implying a global market share of about 3%-8%, Goldman Sachs says. (kosaku.narioka@wsj.com; @kosakunarioka)

0713 GMT - Bangchak Corp.'s positive earnings outlook is reinforced by its investor forum, UOB Kay Hian's Arsit Pamaranont says in a research report. Management aims to boost the petroleum and energy conglomerate's Ebitda to 100 billion baht by 2030 from 36 billion baht in 2025, with its strategy increasingly focused on maximizing value from existing businesses. Its trading business was another positive surprise, with management targeting trading Ebitda of roughly 1.6 billion baht in 2027 and 5 billion baht by 2031 after trading Ebitda reached 1.05 billion baht in 1H 2026. The brokerage raises the stock's target price to 65.00 baht from 52.00 baht to reflect valuation roll-forward, with unchanged buy rating. Shares are 0.5% higher at 55.00 baht. (ronnie.harui@wsj.com)

0712 GMT - BOC Hong Kong's fundamentals are likely to remain solid as it maintains its loan growth and asset quality advantage over peers, say DBS Group Research analysts in a note. Asset quality improvement in the lender's 1H earnings was a pleasant surprise, the analysts note. They expect BOC Hong Kong to deliver growth in 2026 thanks to higher interest rates and recovery in the Hong Kong property sector and economy. However, they say BOC Hong Kong's additional shareholder return plan appears to be on the lower end of market expectations and its higher dividend payout ratio has likely been priced into shares. DBS retains its buy rating and 52.00 Hong Kong dollar target price. Shares rise 2.75% to HK$52.35.(megan.cheah@wsj.com)

0652 GMT - Frencken Group remains an add call to CGS International on two tailwinds, the brokerage's William Tng says in a research report. The analyst cites management's guidance for a strong recovery in the manufacturing solutions provider's semiconductor business over 2027-2028 and buying support for its shares from Singapore's Equity Market Development Programme. The company is also likely to post 8.8% EPS CAGR over 2025-2028 with potential for higher earnings in 2027-2028 if demand in its semiconductor segment remains strong. However, the brokerage lowers the stock's target price to 2.93 Singapore dollars from S$3.25 to factor in the company's proposed new share placement. Shares are 0.85% lower at S$2.33.