eToro initiated with a Buy at Goldman Sachs
Goldman Sachs analyst James Yaro initiated coverage of eToro (ETOR) with a Buy rating and $76 price target implying 21% upside. The firm sees eToro as an attractive market share gain story in the 'fragmented' European retail brokerage market. The company has a 'differentiated' offering verses peers, in terms of geographic and product breadth, the analyst tells investors in a research note. Goldman believes CopyTrader is both a loss mitigation tool and a tool to facilitate social trading, 'which many younger investors want.'
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Hamilton Spectator
an hour ago
- Hamilton Spectator
Canada-Europe security and defence pact to be signed Monday in Brussels
OTTAWA - A security and defence partnership pact Prime Minister Mark Carney will sign with European leaders in Brussels on Monday will be among the most wide-ranging agreements with a third country Europe has ever reached, a senior EU official said on Friday. Carney is flying to Europe Sunday for a Canada — EU Summit, planned for Monday evening with European Council President António Costa and European Commission President Ursula von der Leyen. At the G7 summit in Alberta on Monday von der Leyen confirmed that the agreement will be signed on Monday in Brussels, calling Canada a 'key partner.' 'This is also a moment where we can strengthen Canada's role in Europe's rapidly evolving defence architecture,' said Von der Leyen on June 16. In a briefing to Canadian and European reporters on Friday, a senior European official said there will be two main outcomes from the summit — a joint statement that expresses views on global issues, such as conflicts in Ukraine and the Middle East, as well as the signing of the 'EU Canada Security and Defence Partnership Agreement.' 'This is an ambitious one,' the official said. 'And actually we've had this with a number of global partners, but the one with Canada would be one of the most far reaching of its kind that the EU has ever signed with a third country. It will open up new avenues for joint work on crisis management, military mobility, maritime security, cyber and cyber threats, and defence industrial co-operation.' Carney has been clear that he intends to expand Canada's ties with Europe as its relationship with the United States strains under the weight of tariffs and threats of annexation. Within two days of being sworn in as prime minister in March Carney flew to Europe, meeting with French President Emmanuel Macron in Paris and British Prime Minister Keir Starmer in London. It was during those meetings that he seriously began talking about signing on to Europe's new defence procurement plan known as ReArm Europe. In the throne speech on May 27, Carney's government pledged to join that program, and he told the CBC in an interview that same day he expected Canada to do that by July 1. On June 9, Carney announced a massive investment in Canada's defence budget to push Canada above the two per cent of GDP NATO target this country has promised — and failed — to meet for more than a decade. Joining ReArm Europe is part of that plan, with Carney repeatedly saying Canada can no longer put all its defence spending into the U.S. 'We are in close discussions with our European partners to join ReArm Europe,' he said on June 9. 'That will be an element of diversification. That's just smart. It's better to be diversified. It's better to have options. It's better to have different supply chains and broader partners.' The agenda for the summit posted by the European Council says the security and defence procurement agreement will allow Canada to join a European loan program for joint defence projects. That 150-billion euro program — called Security Action for Europe, or SAFE — is part of the ReArm Europe initiative. The EU official said on Friday that once the procurement agreement is in place, Canada will have to negotiate a bilateral agreement with the European Commission to begin discussions with member states about procurement opportunities. Leaders at the EU-Canada summit are also expected to discuss global trade and the wars raging in Ukraine and the Middle East. They will also commit to fully ratifying the Comprehensive Economic and Trade Agreement, the Canada-Europe free trade agreement known as CETA. Fen Hampson, a professor of international affairs at Carleton University, said Carney also should put the 'pedal to the metal' on ratifying CETA. The deal entered into force provisionally in 2017, but several EU member states still need to ratify CETA at the national level. 'The real challenge there is to get Canadian businesses and also European businesses to take it up … and to start doing more business across the Atlantic, but that also requires political leadership,' Hampson said. 'It hasn't been fully ratified but that's something (Carney) can perhaps impress upon the Europeans.' After Brussels, Carney will travel to The Hague for the NATO leaders' summit, where discussions are expected to push forward on increasing the NATO members' defence spending target as high as five per cent of GDP, from the current two per cent. — With files from Kyle Duggan, Dylan Robertson and The Associated Press This report by The Canadian Press was first published June 20, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
7 hours ago
- Yahoo
Korn Ferry price target raised to $85 from $77 at Goldman Sachs
Goldman Sachs raised the firm's price target on Korn Ferry (KFY) to $85 from $77 and keeps a Buy rating on the shares after fiscal Q4 revenue, EBITDA margins and EPS came in ahead of the firm's estimates and consensus and guidance for Q1 exceeded Street expectations. The fourth edition of Talent Suite released in Q4 should drive accelerated digital segment revenue growth in calendar 2026 and potential upside to management's 16%-18% medium-term EBITDA margin target, the analyst tells investors. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on KFY: Disclaimer & DisclosureReport an Issue Korn Ferry's Resilience and Growth Potential Amid Economic Uncertainty Korn Ferry Reports Steady Growth Amidst Global Challenges Korn Ferry's Earnings Call: Strong Growth Amid Challenges Korn Ferry rises 13.1% Korn Ferry rises 16.5% 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
CNBC
7 hours ago
- CNBC
Where Goldman sees the best opportunities for income in the second half of the year
Amid the uncertainty around tariffs and the path of Federal Reserve monetary policy, investors can find attractive opportunities for income, according to Goldman Sachs Asset Management. The central bank opted to hold interest rates steady when it concluded its two-day meeting on Wednesday. The Fed still anticipates two reductions this year , but expects higher inflation and lower economic growth ahead. At the same time, the market is awaiting a resolution on tariffs. President Donald Trump 's deadlines for reaching trade deals is fast approaching, with the pause on reciprocal levies due to expire in July. "The next couple of months of data are going to be the proving ground for understanding how the tariff shock really is going to feed through the system," Simon Dangoor, head of fixed income macro strategies, said in Goldman's midyear outlook event this week. "There's still a lot we don't know about where tariff policy is going to end up. The uncertainty effect really builds with time," he added. "The next couple of months, where the data plays out, is going to be key for understanding how the Fed plays its hand." Dangoor said he expects the central bank to remain on hold at next month's meeting, but believes a path could open up for it to resume rate cuts later this year if the labor market weakens. Goldman's income play In this environment, Dangoor is focused on income as credit spreads are tight. "Credit spreads have gone back to being frustratingly expensive, but we think that that's underpinned by really quite good fundamentals in the corporate sector," he said. "We continue to see very disciplined behavior from corporates that leaves us wanting to build our portfolios for carry." Securitized products in particular have attractive income relative to risk, he said. Within securitized, he likes collateralized loan obligations — especially the AAA-rated assets, the highest quality part of the market. The Janus Henderson AAA CLO ETF (JAAA) currently has a 30-day Securities and Exchange Commission yield of 5.35%. Flows into CLOs remain strong, Dangoor noted. "Issuance of the underlying bank loans is reasonably soft, " he said. "That combination of a reasonably light supply of the underlying asset and the strong demand is something that we think will keep CLOs behaving very well and offering quite attractive carry to risk." "We like new issue CLO, where you get a such a long reinvestment period and an opportunity to create a portfolio of new vintage loans that's been underwritten to the current environment." he added. In addition, Dangoor sees select opportunities in commercial mortgage-backed securities because there is some value and space for credits to compress. In particular, he likes single-asset, single-borrower CMBS on a high-quality underlying office collateral. "If you're prepared to do the underwriting work, [they] can give you some comfort about recovery to really all scenarios and particularly where those single-asset single-borrower deals have been refinanced to the new prevailing interest-rate environment," Dangoor said. "We think that they are pretty robust structures and offer quite attractive value."
