The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0717 GMT - Malaysia's transportation sector may face near-term challenges from softening global trade and lingering geopolitical risks, RHB IB says in a note. Export growth is projected to ease to 3.1% in 2H from 3.8% in 1H given the impact of U.S. tariffs and fading front-loading effects, it says. Geopolitical risks remain a wild card for the sector. However, exports may remain supported by Malaysia's diversified trade base and tariff stability within Asean, it adds. RHB maintains a neutral rating on Malaysia's transportation sector. It prefers logistics players, given their stable earnings, which are supported by a diversified client base and business segments. Tasco is its top sector pick. (yingxian.wong@wsj.com)

0710 GMT - Hyundai Motor India's target to achieve a 15% market share in India in the next five years could be seen as disappointing, HDFC Securities analysts Hitesh Thakurani and Shubhangi Kejriwal write in a research report. The 2030 goal for Hyundai Motor's Indian subsidiary compares with its 2025 target of 13.2%, they note. "We view this to be a very mild market-share target, considering the management's optimism over its upcoming [vehicle] launches," they say in the report. The company plans to invest around $5 billion and launch 26 products by 2030. HDFC keeps its reduce rating on the stock with an INR2,212 target price. Shares are 1.8% lower at INR2,377.50. (kwanwoo.jun@wsj.com)

0553 GMT - International Container Terminal Services stands to benefit from a favorable court ruling on Durban Container Terminal Pier 2 in South Africa, SB Equities' Katrine Eunice Dolatre says in a research report. South Africa's High Court has dismissed Maersk's challenge to Transnet's award of Pier 2's concession to International Container Terminal Services. The brokerage says this could yield swifter volume contribution from the Philippine company's terminals based in Europe, Middle East and Africa, as this terminal is considered to be its largest operation in Africa so far. SB Equities now forecasts five-year CAGR of 6.3% for the company's volumes. It raises the stock's target price to PHP615.10 from PHP528.10 with an unchanged add rating. Shares are 0.4% lower at PHP548.00. (ronnie.harui@wsj.com)

0454 GMT - The chance that Thai Airways International may return to the Thai finance ministry's control turns UOB Kay Hian bearish on the stock. The Thai finance ministry nominated 10 candidates to replace three board directors who are soon to end their terms. Shareholders will vote on the matter at Thai Airways' annual general meeting, but the issue could be an overhang on the airline's shares in the meantime, say UOB KH's analysts in a note. "We fear that [Thai Airways] would revert to the state when strategic decisions were not in line with the airline business practice and operational performance was inefficient," they say. UOB KH downgrades its rating to hold from buy and lowers its target price to THB11.00 from THB17.00. Shares rise 2.0% to THB10.20.(megan.cheah@wsj.com)

0347 GMT - Hyundai Motor India's strong product portfolio could boost its growth ahead of peers, say Nomura analysts in a note. The automaker's domestic volume may grow at a compound annual growth rate of 9% over FY 2025-FY 2028 versus an estimated 7% CAGR for the industry, analysts Kapil Singh and Siddhartha Bera say. Its new launches and luxury brand Genesis should contribute to a 3% average-selling price CAGR, they add. Nomura projects FY 2026-FY 2028 Ebitda margins to be slightly higher than Hyundai Motor India's estimates of 11%-14% citing rising mix of premium segments, lower discounts after goods-and-services-tax cuts and operating leverage as factors. Nomura has a buy rating and INR2,846 target on the stock, which is last at INR2,460.00. (megan.cheah@wsj.com)

0304 GMT - JD Logistics has a strong revenue and earnings outlook, UOB Kay Hian analyst Roy Chen says in a note. He projects 3Q revenue to rise 20% on year to about CNY 53 billion, driven by growth in its core logistics business as well as an uplift from its new food and beverage delivery services. However, Chen expects a temporary on-year dip in 3Q core after-tax profit, due to costs from recent capacity expansion, before regaining growth in 4Q. The analyst is positive on its acquisition of JD.com's on-demand local delivery units, noting that it offers synergy realization potential. UOB maintains a buy rating on JD Logistics' stock and a HK$22.00 target price. JDL is UOBKH's top sector pick for its market leadership in China's integrated supply chain and premium logistics space as well as its little direct exposure to U.S.-China trade tensions. Shares recently traded at HK$12.52.(jason.chau@wsj.com)

0221 GMT - ComfortDelGro is likely to benefit from higher public transport fares in Singapore, RHB Research's Shekhar Jaiswal says in a research report. Under its 'Fare Review Exercise 2025,' Singapore's Public Transport Council announced an overall fare adjustment of 5.0% effective Dec. 27, the analyst notes. This is mildly positive for ComfortDelGro via its 74.4%-owned SBS Transit, the analyst says. However, the Singapore-listed transport company's earnings uplift would be modest as fare gains could be partly offset by factors including cost pressures, the analyst adds. RHB Research maintains a buy rating and target price of S$1.75 on the stock, which are 1.35% lower at S$1.46. (ronnie.harui@wsj.com)

2220 GMT - J.B. Hunt eliminated more than $20 million in cost-to-serve expenses in the third quarter as part of its new cost-savings initiative. For the most recent quarter, J.B. Hunt balanced networks and improved service efficiencies. The logistics company aims to remove $100 million of instructional costs. The majority of the savings from the initiative are expected to be realized in 2026, Chief Financial Officer Brad Delco told analysts. The company plans to provide an update each quarter on how much it has eliminated in costs. Shares gain 12% to $156 in after-hours trading. (katherine.hamilton@wsj.com)

1724 GMT - AI could make online travel agencies obsolete, Melius Research analyst Conor Cunningham says. OpenAI, through ChatGPT, has started to integrate some online travel agencies into its platform with partnerships with Booking, Expedia and Uber. While those partnerships give a boost to those companies in the short-term, ChatGPT's encroachment into commerce could result in travel agencies being pushed out in the long-term, Cunningham says. "At the end of the day, OTAs are useful in travel discovery, and if ChatGPT can work toward that outcome, the value of OTAs will decline," he says. (katherine.hamilton@wsj.com)

1505 GMT - A rising number of Americans are underwater on their car loans, research by online car-shopping guide Edmunds finds. Its data shows a growing number of owners are trading in vehicles worth less than what they owe, and that the debt rolling forward is growing. Edmunds says 28.1% of trade-ins had negative equity in 3Q, up from 24.2% in 2Q and the highest share on record since 1Q 2021. The average amount owed on these "upside down" loans hit a record $6,905 in 3Q, edging past the prior record set in 1Q. One third of car owners owe debt of between $5,000 and $10,000, and almost one-quarter of trade-ins with negative equity carried more than $10,000 in debt, a new high. Edmunds' Ivan Drury says the debt consumers are carrying on trade-ins should be a wake-up call. (robb.stewart@wsj.com)

1445 GMT - The decision by Stellantis to shift production of its newest Jeep models from Canada to the U.S. highlights the challenges facing Canada's factory sector, Capital Economics says. This points to "limited upside" for Canadian manufacturing, even though the sector posted better-than-expected results in August. Canada PM Mark Carney warns that Stellantis's decision underscores the risk his country's economy faces -- companies are either holding back investment decisions, or opting to pour additional cash into the U.S. to avoid tariffs. Carney adds business investment in Canada is at risk until there's certainty over the future of USMCA. (paul.vieira@wsj.com; @paulvieira)

1008 GMT - BMW's Neue Klasse models set new technology standards for legacy automakers, but Jefferies says Mercedes-Benz may have retained a relative edge with its approach to software-defined vehicles. The bank says it likes BMW's long-term strategy and reset around the Neue Klasse, with first deliveries expected in the second quarter next year. However, Mercedes-Benz's product revival will accelerate next year, after the successful CLA model replacement based on a new software-defined vehicle platform. The bank switches its preference to Mercedes-Benz on its earnings outlook and software-defined vehicle edge. Jefferies downgrades its rating on the BMW stock to hold from buy and lowers its price target to 85 euros from 92 euros. It keeps Mercedes-Banez at hold and lifts its price target to 60 euros from 55 euros. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

October 16, 2025 04:20 ET (08:20 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.