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

2133 ET - Inari Amertron appears to be entering a transition period, shifting towards higher-growth AI solutions, Public Investment Bank analyst Chong Hoe Leong says in a note. The outlook is supported by recovering RF demand and rapid growth in photonics revenue, which could double to about 200 million ringgit in FY 2027 as AI data-center demand rises, he reckons. A new testing program for optical communication components provides another AI-related growth avenue. Inari has set aside 450 million ringgit in capital expenditure, mainly for optical-photonics processing and plant expansion, he notes. Chong raises Inari's FY2027-2029 EPS forecasts by 10%-15%. Public IB raises Inari's target price to 3.06 ringgit from 2.60 ringgit, while maintaining an outperform rating on the stock. Shares are 0.4% higher at 2.66 ringgit.(yingxian.wong@wsj.com)

2114 ET - Korea Gas is set to benefit from growing earnings contributions from its overseas energy projects, Yuanta Securities Korea' Son Hyun-jeong and Kim Ko-eun. The analysts expect the South Korean state-owned liquefied natural gas supplier's consolidated operating profit to rise 14% to 2.404 trillion won in 2026, with overseas operations accounting for 25% of total profit, up from 15% in 2025. LNG fields in which the company has invested,especially in Canada and Mozambique, have significantly increased production recently, driving earnings growth, they note. Yuanta initiates coverage of the stock with a buy rating and 47,000 won target price. Shares are 0.4% higher at 36,300 won. (kwanwoo.jun@wsj.com)

2058 ET - Earnings momentum for the Malaysian rubber products sector appears to be stabilizing, while steep share-price corrections in recent years have made valuations more attractive, Affin Hwang IB analyst Andrew Lim says in a note. Pricing competition is also less aggressive than anticipated, with the gap between Malaysian and China manufacturers narrowing to about $0.50 per 1,000 pieces from nearly $4 previously, he says. More rational pricing and cost pass-through should help sustain recent margin improvements, despite higher natural-gas costs, he adds. Affin Hwang upgrades the country's rubber products sector's rating to overweight from underweight and pegs Hartalega as its top pick. (yingxian.wong@wsj.com)

2047 ET - WH Group's dividend outlook faces greater uncertainty amid operational challenges, especially after its unit, Smithfield, further lowered its 3Q26 outlook due to weak demand and declining pork and hog prices, Citi analyst Tiffany Feng says in a note. The bank cuts WH Group's 2026-28 net profit forecasts by 10%-11% and reduces its dividend payout assumption to 50% from 66%. Citi has opened a 30-day negative catalyst watch on WH Group and cut its target price to 8.20 Hong Kong dollars from HK$9.90. It, however, keeps a buy rating, citing a dividend yield of more than 5% under its conservative payout assumption. Shares last closed 4.4% lower at HK$7.10. (venkat.pr@wsj.com)

2024 ET - MMG earnings will get a boost mainly from higher copper prices and lower cost assumptions at its Las Bambas mine, Citi analyst Jimmy Feng says in a note. The bank revised its earnings estimates upward for 2026-28 following the metal miner's first-half performance. Citi also raised the stock's target price to 12.00 Hong Kong dollars from HK$11.20, while maintaining a buy rating. Shares closed 1.7% higher at HK$9.78 Wednesday. (venkat.pr@wsj.com)

2014 ET - Japanese stocks are lower in early trade on rising concerns over the Iran war and higher energy costs. Construction and retail stocks are leading the declines. Taisei is down 4.9% and Ryohin Keikaku is 2.4% lower. The dollar is at 153.49 yen, compared with Y153.15 as of Wednesday's Tokyo stock market close. Investors are closely watching developments in the Middle East and oil prices after Brent crude topped $100 a barrel for the first time since July. The Nikkei Stock Average is down 0.6% at 64759.80. (kosaku.narioka@wsj.com; @kosakunarioka)

2009 ET - U.S. steel spreads continue to strengthen for BlueScope Steel, says Jefferies. It says the spot spread for BlueScope's North Star steel plant is up 1% week-on-week at US$848/metric ton. The spread has gained 16% over the past three months, Jefferies says. BlueScope guided to a US$750/ton spread in 1H FY27, says the bank. That "suggests a strong lead into 2H27," given a roughly one-month lag on about 75% of its volume, says the bank. Shares are down 0.8% early in Sydney at 30.87 Australian dollars, alongside a broadbased decline in Australian equities. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

1959 ET - Australian stocks are likely to fall in early trade, with ASX futures down by 1.0% ahead of Thursday's open. That follows losses on Wall Street, where U.S. stocks extended their recent decline as the war in the Middle East continued to escalate and drive up oil prices. The S&P/ASX 200 is already down 1.1% week to date, taking its month-to-date losses to 1.8%.(rhiannon.hoyle@wsj.com; @RhiannonHoyle)

1945 ET - Japanese stocks may fall as fears about the Iran war and higher energy costs grow. Nikkei futures are down 1.2% at 64355 on the SGX. The dollar is at 153.37 yen, compared with Y153.15 as of Wednesday's Tokyo stock market close. Investors are focusing on developments in the Middle East and oil prices after Brent crude topped $100 a barrel for the first time since July. The Nikkei Stock Average fell 0.2% to 65142.78 on Wednesday. (kosaku.narioka@wsj.com)

1903 ET - Westgold Resources' production outlook was broadly in line with expectations, but the gold miner's capex plans weren't. Ord Minnett analyst Paul Kaner says the capital required to reach an output target of 500,000 oz. of gold by FY29 was 40% higher than the market had forecast. "The increase reflects ongoing cost inflation and additional non-mill expansion capital requirements across the portfolio, with the composition of the 500,000 oz production profile having evolved significantly over the past year," Ord Minnett says. It downgrades Westgold to "accumulate," from "buy," and cuts its target price by 11%, to A$6.50/share. Westgold ended Wednesday at A$6.18. (david.winning@wsj.com; @dwinningWSJ)

1855 ET - Metcash gets a new bull in Macquarie after the retailer's trading update suggests it is performing well in a challenging environment. Macquarie was positively surprised by Metcash's food sales, which were up 2.6% in the first 18 weeks of FY27 when tobacco is excluded. That growth is likely driven by both volume and price. "Further, Liquor sales being +0.8% suggests modest market share gains against what we expect is a broadly flat market," Macquarie says. And while momentum in Metcash's Hardware business is likely to weaken, Macquarie thinks this is priced into its stock given the valuation discount to peers. It upgrades Metcash to "outperform," from "neutral," and keeps its price target unchanged at A$3.20/share. Metcash ended Wednesday at A$2.87. (david.winning@wsj.com; @dwinningWSJ)

1854 ET - AGL Energy's bear at Macquarie remains concerned about the power generator and retailer's FY28 outlook. Macquarie reckons consensus expectations for FY27 Ebitda of A$2.04 billion are materially too high. It points out the industry is 57% through the Default Market Offer period for pricing. Macquarie adds the El Nino weather event hasn't materially changed forward electricity markets, while batteries have reduced day-to-day volatility. "Power pricing is likely to stay below A$100/MWh (New South Wales) in FY28 and FY29," Macquarie says. The performance of AGL's power plants in July and August reflects the soft price environment with reduced coal generation, although this is likely reflected in FY27 Ebitda guidance, Macquarie says. It keeps an "underperform" call and A$7.94/share price target on AGL, which ended Wednesday at A$8.78.