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

1101 GMT - BRP is navigating tumultuous tariff waters better than feared, TD Cowen analyst Brian Morrison says, noting that management reduced its F2027 net tariff exposure to around C$200 million from its prior guidance of C$300 million to C$350 million. Part of this is because BRP is launching a new side-by-side vehicle engineered to fit into lower-tax trade categories, bypassing higher import duties. "This should be complemented by reduced tariff rates on ATVs in June, partially offset by the commencement of S338 tariffs upon Spyder 3WVs," Morrison says. What's more, the company expects FY2028 tariff exposure to be C$225 million, "which we view as well below what we estimate is in consensus ($350mm-$375mm)." (adriano.marchese@wsj.com)

1057 GMT - Palm oil closed higher on stronger soybean oil prices and ongoing concerns about medium-term output amid El Nino weather conditions affecting Malaysia and Indonesia, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Ng sees support at 4,900 ringgit a ton and resistance at 5,050 ringgit a ton. The Bursa Malaysia Derivatives contract for June delivery ended 27 ringgit higher to 4,931 ringgit a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

1053 GMT - Computacenter shares have further to rise as investors are underestimating the power of growth drivers behind the stock, UBS analysts write. Shares in the London-listed company, which sources data center infrastructure and compute architecture, have already risen by over 80% so far this year. A combination of rebounding German demand, hyperscaler capital expenditure and companies refreshing their IT equipment will all boost the stock more than the market expects, the analysts say. Recent compute deals suggest hyperscaler spending is resilient and enduring, they say. For example, SpaceX--a key Computacenter customer--recently sold compute capacity well ahead of market rates, the analysts note. Shares rise 3%, leading London's FTSE 100. (josephmichael.stonor@wsj.com)

1040 GMT - Zara owner Inditex is able to sell fashion in a more accurate and timely way than its peers due to its distinctive supply chain, Jefferies analysts write. "The Zara store refresh program underpins a transformational change in the shopping experience," they say. The Spanish fashion giant has significant balance sheet strength and strong share-gains potential, they add. Jefferies raises its target price on the stock to 67.00 euros from 62.00 euros and keeps its buy rating. Shares are up 1.1% at 57.44 euros. (ian.walker@wsj.com)

1017 GMT - China's trade growth is likely to pick up modestly in August, according to Goldman Sachs in a research note. On exports, high-frequency indicators such as shipping volumes point to a mild recovery, the bank says. South Korea's reported imports from China remained solid, GS adds. "On imports, the ongoing AI capital expenditure boom should continue to support tech-related nominal imports, consistent with strong Korean exports to China in August," GS says. The bank forecasts export growth to rise to 26.0% on year in August from 23.9% in July, and for import growth to accelerate to 32.6% on year from 27.5%. (tracy.qu@wsj.com)

1004 GMT - Renishaw can grow significantly without substantial incremental investment, Bank of America analysts write as they double-upgrade the stock. The bank raises its rating to buy from underperform and its target price to 54 pounds from 27.79 pounds. "Existing capacity provides meaningful operating leverage, allowing earnings to outpace revenue," the analysts say. They add that the FTSE 250-listed engineering-technology group has excess cash of 210 million pounds that could be distributed by fiscal 2027. Shares are up 5.1% at 51.45 pounds and 46% higher over the year to date. (ian.walker@wsj.com)

0957 GMT - Lululemon's second-quarter results show the brand's momentum is fading fast, Jefferies analysts write. Decisions by the group's previous chief executive to open more and bigger stores have pushed its costs higher, in turn weighing on margins. "Incoming CEO [Heidi] O'Neill has a mountain to climb," they say. The athleisure retailer's margins will keep dropping, and so will its earnings per share, the analysts say. However, the stock may not have much further to fall given the group still has solid cash flows, they add. Lululemon shares tumble 19% premarket. (josephmichael.stonor@wsj.com)

0951 GMT - Volkswagen's supervisory board approval of a new restructuring plan is a major surprise and represents a fundamental breakthrough for a company many investors had seen as "not fixable," Deutsche Bank analysts write. However, the agreement doesn't solve Volkswagen's challenges overnight, and execution remains key, the analysts say. Deutsche Bank thinks there has been very limited dilution of the board's core transformation targets, aside from a lack of definitive plans to simplify the group structure and close four German manufacturing plants. "Nonetheless, we continue to see it as unlikely that Volkswagen will still produce vehicles at these sites beyond the early 2030s and believe addressing Germany's structural cost disadvantage remains fundamental to any sustainable turnaround." Shares in the German automaker rise 5.5%. (dominic.chopping@wsj.com)

0948 GMT - The Gulf's push to build new trade, energy and logistics infrastructure is likely to continue regardless of the near-term outcome of the Iran war, the Arab Gulf States Institute says. Bypassing the Strait of Hormuz is one objective, but the investment drive extends to pipelines, railways, roads, ports and new economic corridors across the region, says ASGI non-resident fellow Robert Mogielnicki. Saudi Arabia stands to benefit from a westward shift in economic activity, while the U.A.E. is developing eastern export and logistics hubs and Oman is gaining from routes that avoid regional chokepoints. (farhan.rafid@wsj.com)

0947 GMT - Nvidia's acquisition of artificial intelligence startup Hugging Face is a strategic win for the company, Jefferies' analysts write. The roughly $13 billion deal for New York-based Hugging Face is financially immaterial for Nvidia, they say. But the deal will extend Nvidia's reach into the finding, testing and running of AI models, they say. The acquisition will also strengthen Nvidia's engagement with developers, and improve the Santa Clara-based chip company's ties into the open-model ecosystem, they say. Nvidia shares rise 0.8% premarket, after jumping 1.8% in the last session. (josephmichael.stonor@wsj.com)

0907 GMT - Foreign selling of Gulf equities accelerated in August even as regional stock markets rallied, Iridium Advisors says. Net foreign outflows widened to $544 million from $415 million in July, led by $351 million from the U.A.E. and $202 million from Saudi Arabia. Qatar bucked the trend with a $62 million inflow, its first since February. The divergence comes as the MSCI GCC Index gained 3.9% in August, outperforming emerging markets for a second consecutive month, suggesting local market strength hasn't yet translated into a broad return of foreign capital. (farhan.rafid@wsj.com)

0857 GMT - Adobe's long-awaited appointment of insider Anil Chakravarthy as chief executive allows the software group to move past a period of uncertainty, JPMorgan analysts write. Chakravarthy will replace Shantanu Narayen, who moves to the role of executive chair. "We believe the announcement is a positive in relation to addressing the uncertainty that has plagued new investor interest in the shares." Investors will monitor Chakravarthy's ability to position Adobe in the context of increasingly powerful AI, the analysts say. Adobe is among a number of software stocks that sold off sharply this year over fears that AI competition will compress margins. Investors had been considering an outside appointment to provide a fresh approach, the analysts say. Shares fall 3% premarket following the appointment.