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

0755 GMT - Pop Mart International's latest sales guidance enhances its earnings visibility, say CGS International analysts in a note. The Labubu doll maker said its total sales exceeded 400 million units last year, with analysts expecting the company to post a 310% jump in net profit to CNY13.9 billion in 2025, thanks to supply chain optimization and improving product mix. Revenue for the full-year likely jumped 203% to CNY39 billion, given overseas store expansion, they add. Pop Mart is evolving into a global intellectual-property platform, with around 70 new stores likely to open this year, the CGSI analysts add. CGSI maintains an add rating on the stock and a HK$391.00 target price. Shares slide 5.3% to HK$255.40. (megan.cheah@wsj.com)

0742 GMT - TKMS's decision to increase its sales guidance for fiscal 2026 was expected, Bernstein analysts say. "We had seen the previous guidance as overly conservative and expected an increase," Bernstein analysts write in a research note, calling the new outlook "more ambitious" and likely to drive upgrades to consensus estimates. New potential orders from India and Canada could also support the stock, Bernstein said, adding that the shares are pricing a near-bull case scenario. Shares closed at 94.75 euros. (cristina.gallardo@wsj.com)

0745 GMT - Sheng Siong Group's stock valuation has limited room to grow, say DBS Group Research analysts in a note. The Singapore grocery retailer's growth this year is likely to normalize from a high base, they say. Sheng Siong is a beneficiary of the Singapore government handing out vouchers over the last few years, but economists broadly expect these to be scaled back as the country's inflation pressures ease, they add. DBS reiterates a "sell-into-strength" stance on Sheng Siong's shares, pegging resistance levels at S$2.92-S$2.95 and flagging risks of a pullback at S$2.75 and S$2.60. DBS maintains a hold rating and target price of S$2.60 on the stock. Shares fall 4.2% to S$2.73. (megan.cheah@wsj.com)

0724 GMT - Bank Mandiri's 2025 earnings outperformed, which is likely to lead to higher shareholder returns, Maybank Sekuritas Indonesia analysts say in a research report. Its earnings growth and balance sheet metrics are stabilizing, indicating that its dividends should become more consistent, with the brokerage forecasting the bank's dividend yields at 8.5% in 2026 and 9.3% in 2027. Also, the Indonesian bank's asset quality is expected to be manageable, thanks to its corporate-led loan growth mix. The brokerage lifts its 2026 net-profit forecast for Bank Mandiri by 7.1%, and raises the stock's target price to IDR6,000.00 from IDR5,600.00 with an unchanged buy rating. Shares are 1.5% lower at IDR5,025.00. (ronnie.harui@wsj.com)

0721 GMT - A price-driven boost to Heineken's revenue "does not obviously fit with the company's intention to moderate price increases," James Edwardes Jones and Wassachon Udomsilpa at RBC Capital Markets write in a note to clients. The Dutch brewer beat expectations for fourth-quarter and full-year revenue growth, despite a slide in volumes. That points to a strong price-mix increase and suggests the company isn't dialing down prices of its beers, the analysts say. RBC has a sector-perform rating and a 76-euro target price on the Amsterdam-listed stock. (joshua.kirby@wsj.com; @joshualeokirby)

0717 GMT - Commerzbank's fourth-quarter results and guidance update are somewhat underwhelming, Keefe, Bruyette & Woods says in a research note. The German lender reported mixed results and an outlook for this year that doesn't move the dial as it already broadly aligns with consensus expectations, analysts say. "While core revenues came in ahead of expectations and volume trends were encouraging, the cost miss was unhelpful and the 2026 guidance is insufficient to lift estimates this morning," they write. (elena.vardon@wsj.com)

0709 GMT - CapitaLand Investment's China asset write-offs remove remaining uncertainties for the asset manager, says DBS Group Research's Derek Tan in a note. While its 2025 headline profit missed estimates, the decline is largely related to devaluations in its China portfolio, which was "well expected," given soft operating conditions there, he says. No further downside risks are expected after these write-offs, which Tan estimates to be around 10% in book value. The asset manager's focus this year is to sharpen its portfolio through asset sales and redevelopments, which it could leverage through its around S$6.4 billion headroom, the analyst adds. DBS is reviewing its buy rating and S$3.65 target price. Shares fall 5.4% to S$3.00. (megan.cheah@wsj.com)

0703 GMT - German shipbuilder TKMS shares could rise Wednesday after increasing its fiscal 2026 sales guidance, Citi analyst Charles Armitage says. The company reported flat first-quarter earnings, its first set of results for the period as an independent company, he notes. Sales went down 1% to 545 million euros, and adjusted EBIT was flat at 26 million euros. Shares closed at 94.75 euros. (cristina.gallardo@wsj.com)

0653 GMT - Nordic markets are seen opening little-changed with IG calling the OMXS30 flat at around 3136. Weaker-than-expected consumption data in the U.S. left its mark on markets with lower stock market prices, lower interest rates and a weaker U.S. dollar, SEB's Sweden and eurozone economist Marcus Widen writes. "Beyond all the geopolitics and legal convolutions in the U.S., it is the assessment of the resilience of the economy that is crucial for the market." U.S. January employment numbers due later will be a new gauge of the state of the economy, he adds. Asian stock markets are generally moving sideways, but are characterized by the fact that the Japanese stock exchange is closed. Futures pricing currently indicates a positive opening in both Europe and the U.S. OMXS30 closed at 3136.54, OMXN40 at 2684.80 and OBX at 1752.72. (dominic.chopping@wsj.com)

0635 GMT - SGS might hit its 2027 targets one year ahead of plan, as its 2025 results show it is making progress toward its objectives, Bernstein's Will Kirkness and Filippo Giardini say in a research note. The Swiss testing, inspection and certification company reported 2025 earnings that exceeded consensus expectations, with organic sales growth in line with views, the analysts say. It confirmed 2027 targets, including an improvement of at least 1.5 percentage points in adjusted operating profit margin, but said it is on track to exceed them. "The proposed [capital markets day] before the end of 2026 suggests that the reiterated 2027 strategy could be achieved a year ahead of plan--16.2% margin--with strong progress also seen in growing sustainability, digital trust and North America revenues," the analysts say. (adria.calatayud@wsj.com)

0629 GMT - Siam Global House's medium-term outlook appears uninspiring to CGS International's Chaiyatorn Sricharoen, who sees the Thai company's potential profit growth in 1H 2026 as mostly driven by a low base and one-off gross margin expansion. Sricharoen expects earnings momentum to fade in 2H once margin tailwinds normalize. The recent rally in the home improvement retailer's valuations, driven by elections in Thailand, also looks excessive, prompting the brokerage to downgrade the stock's rating to reduce from hold. However, CGS International raises its 2026-2027 net-profit forecasts for the company by 1.6%-1.9% to reflect lower interest expenses, and raises the target price to THB7.20 from THB6.90. Shares are 1.9% lower at THB7.70. (ronnie.harui@wsj.com)

0531 GMT - Pop Mart's intellectual-property diversification strategy should strengthen its resilience against cyclical risks, Citi analysts say in a research note. Citi reckons that there is an upward trend in its app downloads for China and the U.S. following the release of Skullpanda x My Little Pony. "We expect its breakthrough in IP diversification, product innovation and monetization in a wide range of fields to drive growth," they say. Investor confidence may improve with the next blockbuster and popularity of non-Labubu IPs in overseas markets, they note. Pop Mart is one of Citi's top buys in the China consumer sector. Shares are last 4.4% down at HK$258.00. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

February 11, 2026 02:55 ET (07:55 GMT)

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