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

0650 GMT - The potential acquisition by NatWest of Evelyn Partners would make the U.K. bank the third largest wealth manager in the country, RBC Capital Markets says in a research note following a Sky News report of an imminent deal. This transaction would be considered a bolt-on but would be transformational for the lender as it would fill the gap it has in its affluent wealth offering, analyst Benjamin Toms writes. "We are somewhat surprised that NWG appear to have come out on top, given how tightly the CEO holds the bank's purse strings," he notes. The article points to a between 2.5 billion and 3.0 billion-pound potential price tag being discussed in advanced talks after other rivals that were reportedly interested in Evelyn backed out. (elena.vardon@wsj.com)

0617 GMT - XLSMART Telecom Sejahtera's average revenue per user-led turnaround is likely gaining traction, UOB Kay Hian analysts say in a research report. The telecommunications service provider's mobile ARPU rose 9.6% in first nine months of 2025, partly supported by a shift toward higher revenue-per-gigabyte users from low-value subscribers, the analysts say. Management has guided for further ARPU-increase initiatives in 4Q 2025 and 2026, positioning the Indonesian company as primary beneficiary of industry-wide pricing consolidation due to its low base. The brokerage maintains the stock's hold rating but raises its target price to IDR3,300.00 from IDR3,100.00 based on estimated 6.0X 2026 enterprise value-to-EBITDA ratio. Shares are 1.0% higher at IDR2,920.00. (ronnie.harui@wsj.com)

0539 GMT - Trading activity on Singapore Exchange will likely remain at high levels over the six-month period ending June, UOB Kay Hian analysts Roy Chen and Heidi Mo write in a note. Cash equities are expected to maintain strong growth momentum, with efforts by Singapore's central bank and SGX, such as the SGX-Nasdaq dual-listing partnership, likely to continue to drive investor participation and market liquidity, they say. While macro and geopolitical uncertainties are likely to sustain strong demand for currency and commodity derivatives for hedging purposes, growth might slow due to last year's high base during the U.S.-China tariff war, they add. UOBKH maintains a hold rating on the stock but raises its target price to S$19.16 from S$17.30. Shares are 2.6% higher at S$18.03. (kimberley.kao@wsj.com)

0528 GMT - Keppel Ltd.'s underlying earnings growth is likely to be supported by its asset management fees and lower interest rates, among other reasons, says Phillip Securities' Paul Chew in a note. The asset manager's 2025 profit after tax was within expectations, with gains led by real-estate asset management and operating performance at Keppel Real Estate Investment Trust, Chew notes. He raises his earnings and price-to-earnings multiples for Keppel Ltd.'s infrastructure and asset management segments to align more closely with sector peers. Phillip Securities also raises its target price to S$13.80 from S$12.20 while maintaining its buy rating. However, the brokerage expects overall earnings to be weighed by Keppel Ltd.'s non-core operations. Shares rise 3.8% to S$12.08. (megan.cheah@wsj.com)

0501 GMT - Frasers Logistics & Commercial Trust is likely to sustain growth in its assets' rent rates, says UOB Kay Hian's Jonathan Koh in a note. The real-estate investment trust's rental rates rose in 2025 thanks to its logistics segment and Australian assets. He expects this upward trend continue this year as the assets are under-rented and there is room for leases to fetch higher rental rates. Frasers Logistics is also preserving debt headroom for acquisitions as it pivots toward more logistics assets in its portfolio, according to Koh. UOB Kay Hian maintains its buy rating and S$1.22 target price. Units are flat at S$1.01. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

February 09, 2026 01:50 ET (06:50 GMT)

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