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

0352 GMT - Lynas Rare Earths has again been vague in its guidance for the year ahead, says UBS. "While there was much focus [and perhaps disappointment] on the FY27 outlook...we argue that LYC's value proposition [at least for us] has always been far more expansive than one-year earnings," the bank says. Its view is that the hurdle to higher volumes relates to Lynas's own ability to produce more, rather than any difficulty in finding customers. UBS says it is focused on costs, as expanded facilities ramp up, as well as continued increases in heavy rare-earths output and the miner's long-term downstream growth plans. UBS reiterates its buy rating. Its trims its target to 22.50 Australian dollars a share from A$22.75/share. The stock is down 1.4% at A$16.17.(rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0342 GMT - China Overseas Land & Investment is likely a key beneficiary of stabilizing residential prices in China's Tier 1 and major Tier 2 cities, say DBS Group Research analysts in a note. Policy relaxation in such cities have supported prices recently and the property company has strong exposure to these markets, they note. This should support a gradual recovery in development segment margins in the near-to-medium term, they add. The analysts reckon the stock warrants a higher valuation multiple, adding that it currently trades at 0.35X its forward 2027 price-to-book-value ratio, below its five-year average. DBS raises its target price to 18.75 Hong Kong dollars from HK$16.20 and maintains a buy rating. Shares rise 1.8% to HK$14.43. (megan.cheah@wsj.com)

0336 GMT - Huationg Global's strong order book of 533 million Singapore dollars as of end-June offers earnings visibility for next four years, UOB Kay Hian's Tang Kai Jie says in a research report. The civil engineering services provider remains focused on Singapore's government infrastructure and sees a healthy order pipeline from Changi Airport and other major public works, the analyst notes. Also, the company continues to actively tender for new projects and highlighted three tenders of above S$100 million in contract value each awaiting results. However, the brokerage cuts the stock's target price to S$0.88 from S$1.23, based on a lower 10X 2026 price-to-earnings ratio versus 11X previously, with an unchanged buy rating. Shares are unchanged at S$0.555. (ronnie.harui@wsj.com)

0330 GMT - Mixue Group's store sales are likely to remain under pressure in the near term, Jefferies analysts Lisa Liao and Anne Ling say in a note. The bubble-tea chain's 1H revenue per store declined 18% on year, weighed by factors including intensified competition within the industry. Management also expects operating pressures to continue or even intensify in 2H as these headwinds persist. Jefferies downgrades the stock to hold from buy and slashes the target price to 252.00 Hong Kong dollars from HK$403.70. Shares are down 6.8% at HK$212.40. (amanda.lee@wsj.com)

0327 GMT - IHH Healthcare's near-term growth prospects are supported by resilient demand for quality healthcare, improving patient numbers and ongoing capacity expansion, Public Investment Bank says in a note. Growth in its Malaysia business should remain supported by medical tourism and same-day medical procedures, it says. Its Singapore business is expected to recover in 2H as hospital occupancy and margins improve, it adds. Public Investment Bank maintains its rating on IHH at outperform and its target price at 11.43 ringgit. Shares are 1.0% higher at 8.23 ringgit. (yingxian.wong@wsj.com)

0327 GMT - Nvidia's H200 chip sales to China is insignificant compared to the surge in capex by Chinese internet companies, Citi analysts say in a research note. Nvidia said earlier this week that sales of H200s to Chinese buyers made up less than 1% of its data-center revenue in fiscal 2Q. Citi estimates that those chips would be valued at no more than $890 million, which is "too insignificant" compared to the capex recorded by Alibaba, Tencent and Baidu in 2Q. The Chinese hyperscalers' spending was likely mostly related to domestic GPU procurement as well as global and domestic memory-chip purchases, they say. The bank expects a sequential decline in their 3Q capex despite projecting a significant increase in their total capex budget for the 2026 calendar year. (sherry.qin@wsj.com)

0320 GMT - China Resources Beverage's shares remain undervalued, says Morningstar's Chokwai Lee in a note, citing sluggish demand and elevated marketing spending weighing on sentiment. The Chinese bottled-water producer's 1H revenue missed Morningstar's estimate, which the director attributes to the company facing difficulty gaining market share in a weak and crowded market and channel restructuring weighing on near-term sales. The company's likely weaker 2026 revenue base and lower margin estimates lead the director to reduce his 2026-2029 earnings projections by an average of 16%. Morningstar trims its fair-value estimate for China Resources Beverage by 7% to 10.50 Hong Kong dollars. Shares decline 2.2% to HK$7.34. (megan.cheah@wsj.com)

0313 GMT - Bilibili's advertising growth is likely to moderate in 2H while its games segment remains fragile, clouding its outlook, say Nomura analysts in a note. The Chinese video-streaming company's advertising growth guidance misses the consensus estimate of around 25%, the analysts say. This likely reflects a challenging macro environment, they say, adding that its game segment remains weak. Execution on new game titles would be crucial to boost segment revenue, but the analysts remain cautious given Bilibili's lackluster track record with new titles. Nomura cuts its target price on Bilibili's American Depositary Receipts to $18.00 from $22.50 and retains its neutral rating. ADRs last closed 3.8% higher at $16.765. (megan.cheah@wsj.com)

0243 GMT - Bumi Armada's earnings over the medium term are likely to be supported by its firm order book, Hong Leong Investment Bank analyst Thye May Ting says in a note. The offshore energy facilities and services provider's firm order book stood at 7.1 billion ringgit at end-2Q. Its cash balance also remained stable at over 1.1 billion ringgit during 2Q, providing sufficient liquidity to support ongoing operations and potential participation in upcoming floating production, storage and offloading bids. Hong Leong IB has a target price of 0.38 ringgit and buy rating on the stock. Bumi Armada shares are 1.4% lower at 0.35 ringgit. (amanda.lee@wsj.com)

0240 GMT - Macquarie questions the role of manganese in South32's portfolio in the long term. As the miner sells its aluminum business, it is putting copper and zinc at the heart of growth plans. Alongside South32's FY results, management reiterated that copper and zinc are the preferred growth commodities, while the near-term focus for manganese is safe and stable operations, Macquarie says. "There was no update on potential portfolio action, leaving manganese's longer-term strategic fit unresolved as the aluminum divestment progresses," it says. Macquarie has a neutral rating on South32. It raises its target price by 16% to 5.00 Australian dollars a share, citing higher spot commodity prices, among other factors. Shares are unchanged at A$5.21.(rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0235 GMT - The Singapore dollar consolidates against its U.S. counterpart in the Asia session ahead of Fed Chair Warsh's speech at Jackson Hole later today. "Uncertainty over the Fed's reaction function and concerns that policymakers may be placing less emphasis on inflation control have increased market focus" on Warsh's comments, two strategists at OCBC Group Research say. "The USD could find support if Warsh and other Fed officials push back against currency debasement concerns and reaffirm their commitment to returning inflation to the 2% target," the strategists add. The U.S. dollar is little changed at 1.2706 Singapore dollars, LSEG data show. (ronnie.harui@wsj.com)

0228 GMT - Sime Darby's rental and maintenance activities in its Australasia industrial division are expected to recover after several quarters of deferment, Maybank Investment Bank's Loh Yan Jin says in a note. Industrial demand across other Asian markets should remain supported by strong data-center and infrastructure spending, she writes. The analyst expects the motor division to continue benefiting from EV sales and support from vehicle manufacturers, while the Malaysian company's UMW unit will likely be supported by stable automotive demand and new model launches. Loh raises FY 2027-FY 2028 earnings forecasts for Sime Darby by 10%-15% following better-than-expected FY 2026 earnings. Maybank boosts the target price to 2.96 ringgit from 2.53 ringgit while maintaining a buy rating on the stock. Shares are 0.4% higher at 2.52 ringgit.