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

0927 GMT - Carlsberg is likely to keep up momentum this quarter, analysts at Jefferies expect. The Danish brewer should book volume growth of 0.8% for the July-September period, the same rate as the previous quarter, with sales growth picking up pace, according to Jefferies estimates. Performance in Western Europe will get a boost from the summer's sunny weather, while India sales should accelerate, though a weak Chinese market will drag, Jefferies says. Carlsberg's bottom line should meanwhile be shored up by good cost control and synergies from the integration of soft-drinks maker Britvic, the analysts say, keeping a hold rating and a target of 950 Danish kroner on the stock. (joshua.kirby@wsj.com; @joshualeokirby)

0914 GMT - AstraZeneca's investment in Summit Therapeutics gives the U.K. drugmaker skin in the game of an emerging class of cancer drugs, UBS analysts say in a research note. Miami-based Summit is developing a cancer drug called ivonescimab that blocks two proteins known as PD-1 and VEGF. Evidence is emerging that this drug class might be superior to Merck's blockbuster medicine Keytruda and recent data also point to potential for combinations with antibody-drug conjugates, according to UBS. AstraZeneca has an extensive antibody-drug-conjugate portfolio and the Summit deal allows it to generate data across multiple tumor types, the analysts say. "If the PD-1/VEGF class does become the new standard of care in various cancers, it will be important to have such combination data," they add. AstraZeneca shares rise 1.9%. (adria.calatayud@wsj.com)

0911 GMT - A.G. Barr maintaining full-year guidance--with revenue growth of around 10%-- despite headwinds demonstrates its strong cost control, Peel Hunt analysts Andrew Ford and Charles Hall say in a note. The soft-drinks maker's revenue rose 8.5% to 247.3 million pounds for the first half despite the effect of previously-announced supply issues, the analysts say. These have now been resolved, with internal systems and operating structures having been improved in the period, the analysts say. "The company continues to have good cover and is fully hedged on all commodities that can be hedged through the rest of the year and into fiscal 2028," Peel Hunt says. Shares are down 2.8% at 582 pence. (anthony.orunagoriainoff@dowjones.com)

0905 GMT - TotalEnergies' updated strategy largely met expectations, J.P. Morgan's Matthew Lofting writes in a note. The French energy major positioned its portfolio integration and diversification as a way of capturing value throughout the cycle, and during geopolitical disruption, he says. Overall, TotalEnergies' long-term fundamentals are well placed, he adds. Shares are down 1.2% at 79.03 euros. (adam.whittaker@wsj.com)

0903 GMT - French construction groups Eiffage and Vinci will see hits to their earnings resulting from a reported proposal to hike taxes on transport infrastructure, RBC Europe's Ruairi Cullinane writes. The French government wants to more than double taxes on highways and large airports, according to reports in Bloomberg and French outlet Les Echos. Eiffage and Vinci both manage highways across France. If enacted, the tax rise could prompt a downgrade to Vinci's earnings-per-share of around 3% to 4%, and downgrades on the same metric for Eiffage of between 7% and 8%, Cullinane writes. French political risk is already priced into the companies' shares, however, the analyst says. Eiffage and Vinci shares fall by 3.6% and 3%, respectively. Aeroports de Paris shares drop 1.3%. (josephmichael.stonor@wsj.com)

0858 GMT - AB InBev's third-quarter results are likely to vary by region, analysts at Jefferies write in a note. The Belgium-listed brewer of Bud Light and Stella Artois should book a 0.6% slide in volumes over the period, though sales and earnings are likely to increase on year, according to Jefferies's estimates. Weak performance in China will likely weigh, with total volumes stripping out the Chinese market probably growing, the bank says. North America is also likely still soft, though AB InBev should outperform the market, the analysts reckon. Other markets in Latin America and Europe should meanwhile prove positive, despite less of a boost from the FIFA soccer world championship than in the previous quarter, Jefferies says, keeping a buy rating and an 86-euro target on the stock. Shares are down 2% at 66.2 euros. (joshua.kirby@wsj.com; @joshualeokirby)

0849 GMT - Legrand's new data-center offering will be key to deliver on its growth plans, UBS analysts say in a research note. The French supplier of electrical equipment outlined its plans to transition to so-called low voltage direct current architectures to enable the next generation of AI data centers. Legrand showcased its offering at an industry fair in Singapore, which seemed credible, and the company expects to be able to take orders for the equipment in the second half of next year, UBS says. While its demonstration seemed credible, a fully commercialized offering by the end of 2027 is now key, the analysts say. Shares jump 7.6%. (adria.calatayud@wsj.com)

0849 GMT - HelloFresh's recovery is likely to be delayed as several operational issues still need to be fixed, Stifel's Clement Genelot writes in a note. The German meal-kit company last week issued a profit warning due to weaker-than-expected new customer acquisition volume during the back-to-school period. "A second read of last week's profit warning leads us to believe that the failed back-to-school campaign mostly resulted from an ineffective marketing strategy in meal kits and from persistent operational issues in ready-to-eat affecting user experience," he says. Stifel expects the company's first quarter 2027 performance to disappoint and notes that the prospects for meal kits remain unclear. Shares are down 1% at 2.38 euros. (najat.kantouar@wsj.com)

0836 GMT - CXMT's global revenue share could rise to 13% in 2028 from 10% this year, Bernstein analysts say in a research note. That implies an around 50% self-sufficiency rate for the DRAM needs of Chinese companies, they say. Non-Chinese companies are also likely to use CXMT's products for China and other non-U.S. markets, implying ample growth headroom for CXMT, they add. The chip maker's DRAM prices should largely follow the industry's before gaining resilience in 2028 on Chinese demand, the analysts say. Bernstein maintains its outperform rating on CXMT with a target price of 70 yuan. Shares last ended at 55.55 yuan. (sherry.qin@wsj.com)

0835 GMT - Shares of European semiconductor companies log gains a day after high bond yields pressured tech stocks globally. Shares of Dutch semiconductor-equipment maker ASML Holding and smaller rival ASM International are up 3.5% and 4%, respectively. BE Semiconductor Industries, the Dutch supplier of semiconductor assembly equipment, is up 3%. German chip maker Infineon Technologies stock gains 2.6%. STMicroelectronics shares are up 2.5%. Meanwhile, the E-mini Nasdaq 100 futures contract edged 0.1% higher, pointing to a positive opening for tech stocks in the U.S. (mauro.orru@wsj.com)

0833 GMT - Legrand's higher merger-and-acquisition ambitions, paired with its first explicit asset-sale program, suggest the French electrical-equipment maker is taking a more active approach toward reshaping its portfolio, Jefferies analysts say. This should come as little surprise given that the company has stepped up dealmaking activity over the past couple of years, the analysts say. The company now expects deals to contribute around 5% to sales on average through the end of the decade, up from between 3% and 5% previously, and to clean up its portfolio by shedding businesses that generate between 500 million and 1 billion euros in sales. Moreover, its new sales growth targets should be taken well given that the company tends to be conservative in its guidance, the analysts add. Shares rise 6.9%. (adria.calatayud@wsj.com)

0829 GMT - Local talent shortages could limit earnings growth in Malaysia's semiconductor sector despite strong global sales and AI infrastructure demand, MBSB Research analyst Martin Foo Chuan Loong says in a note. Southeast Asia has benefited from the so-called China plus 1 and Taiwan plus 1 strategies, but Malaysia faces competition from Vietnam given the similar undertaking, he says. Most local outsourced semiconductor assembly and test stocks have gained 41%-53% year to date, while valuations at 35X-42X forward price/earnings ratios have surpassed their five-year mean. That suggests the earnings recovery is largely priced in, he writes. Any easing in 2H earnings growth could trigger share-price pullbacks, he adds. MBSB maintains a neutral rating on Malaysia's tech sector, with Inari Amertron as its top pick.