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

0238 GMT - U Mobile's improving network position and pricing strategy are expected to help it gain about 1 percentage point of revenue market share a year over the coming years, CIMB Securities analyst Choong Chen Foong says in a note. U Mobile led Malaysia's 5G and overall download speeds in the latest Opensignal report, although its coverage and app experience remained mixed, he notes. Digital Nasional's 5G network could also improve as it deploys an additional 100 MHz of spectrum over the next 12 months, he says. U Mobile's pricing should support broader market recovery, while its peers could benefit from firmer industry mobile revenue growth of 2%-3% in 2026-2027, he adds. CIMB maintains an overweight rating on Malaysia's telco sector, pegging Telekom Malaysia and CelcomDigi as top picks. (yingxian.wong@wsj.com)

0221 GMT - Metrocon Holdings has specialist exposure to Singapore's construction pipeline, KGI Securities (Singapore) analysts say in a research report. The company's foundation engineering capabilities position it to capture opportunities across public housing, infrastructure and institutional developments in Singapore, the analysts say. Its established project track record and main-contractor relationships support contract acquisition. Also, planned increase of Metrocon's grade to 'L6' from 'L5" under Building and Construction Authority's 'CR08 Piling Works' could broaden its direct public-sector tender opportunities. The brokerage initiates coverage of the stock with an outperform rating and a target price of 0.28 Singapore dollar. Shares last closed at S$0.25.(ronnie.harui@wsj.com)

0217 GMT - Gamuda's new contract in Australia lifts its unbilled construction order book to 61.2 billion ringgit, TA Securities analyst Ng Hong Tong says in a note. The latest win is a 790 million Australian-dollar contract to build the Mortlake energy hub, comprising a solar farm and battery storage system, with completion targeted for January 2029. The robust order book could provide earnings visibility over the next 3-4 years, he says. Gamuda could also secure a separate 45 million Australian-dollar operations and maintenance contract within a month, he says. TA Securities maintains a buy rating on Gamuda and keeps its target price at 5.42 ringgit. Shares are 0.8% lower at 4.87 ringgit. (yingxian.wong@wsj.com)

0215 GMT - Canon Marketing Japan's security business is expected to capture growing demand, Jefferies analysts say in a note. Besides products and services developed internally, the Japanese company also incorporates industry-standard software services to support a wide range of customers, the U.S. bank says. The unit of camera and printer maker Canon Inc. is also refining offerings to detect risks from artificial intelligence-driven threats early and minimize damage, the bank says. Canon Marketing Japan's strength is its ability to offer more comprehensive security services, linked with video and printing systems. Jefferies has a buy rating and a target price of 5,000 yen on the stock. Shares are 0.9% lower at Y3,659. (kosaku.narioka@wsj.com; @kosakunarioka)

0212 GMT - Malaysia's fiscal support could be doing the heavy lifting in sustaining consumer spending despite weaker sentiment, with private consumption growing 4.8% on year in 2Q, Hong Leong IB analyst Jonathan Ooi says in a note. The coming budget due Oct. 9 could extend support, alongside a possible minimum-wage increase, he reckons. Government utilities subsidies and potential cash aid should help consumer sentiment recover, while tourism provides another growth driver, he says. The return of F1 to Sepang during China's Golden Week could be a strong catalyst, he adds. Costs remain a key watch point, with fuel, freight, CPO and coffee prices rising amid the Iran war, Ooi says. Hong Leong maintains an overweight rating on Malaysia's consumer sector. AEON Co. (M) and Focus Point are its top picks. (yingxian.wong@wsj.com)

0211 GMT - Samsung Electro-Mechanics' new investment to expand chip-substrate production capacity in South Korea and Vietnam could boost its 2027-2028 earnings, says SK Kim at Daiwa Capital. The analyst notes that the planned 6.8-trillion-won investment is aimed at keeping up with rapidly growing demand for Ajinomoto Build-Up Film substrates used in data-center central processing units and artificial-intelligence accelerators. Kim assumes that the majority of the investment is backed by customers. Kim also expects the company to increase its multilayer-ceramic-capacitor production capacity by 20%-30% amid a shortage of MLCCs for AI servers. "We expect a significant earnings improvement through 2027-28, driven by strong AI demand for ABF substrates and the company's active response to AI server MLCC demand," Kim says in a note. (kwanwoo.jun@wsj.com)

0152 GMT - At first glance, Pantoro Gold's FY 2026 fiscal results are better than expected, says MA Moelis Australia. It attributes the beat to significantly lower exploration expenditure and a larger reversal of share-based payments, among other things. The company's annual mineral resource and ore reserve update is positive, with resources and reserves rising after depletion, it says. MA says the annual result "reinforced PNR's cash-generating potential." It says "the early FY27 production update is more encouraging, however, sustained delivery is still required to rebuild credibility." MA has a buy rating and 3.65 Australian dollar target on the stock. Shares are up 2.1% at A$2.91. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0147 GMT - Wilmar International should be able to navigate a challenging operating environment, says UOB Kay Hian's Amerul Iqmal in a note. While elevated commodity prices could pressure the agribusiness' margins in the downstream consumer and tropical oils business, its plantation segment could benefit from stronger palm oil and sugar prices, he says. The company is also using cost efficiency and hedging to manage volatile commodity prices, he says. Still, he flags that the company expects the impact of the stronger El Nino weather pattern on its oil palm fresh-fruit-bunch production to emerge next year. UOB Kay Hian raises its target price to 3.80 Singapore dollars from S$3.50 but maintains a hold rating. Shares rise 0.3% to S$3.62. (megan.cheah@wsj.com)

0126 GMT - City Developments is likely able to address the concerns around its strategic review as it adopts some of its key initiatives, says Citi analyst Brandon Lee in a note. Shares fell Monday after the release of the review details, which Lee attributed to factors such as the lack of a return on equity target and 30% capital allocation to China and Japan. However, he expects CDL's return on equity to exceed Citi's current forecast if the company achieves its goal of 1.0 billion Singapore dollars in divestment gains. Geographical impact from CDL's China and Japan plans is negligible as it is likely to sell certain existing projects there before undertaking new investments, he adds. Citi has a buy rating and S$11.53 target price. Shares are down 1.8% at S$7.45.(megan.cheah@wsj.com)

0104 GMT - Synlait Milk's latest update contains so many positives that its previous bear at Macquarie is now a bull. Raising the investment bank's recommendation on Sylait's New Zealand-listed stock to outperform from underperform, one of Macquarie's analysts points to recent operational stabilization, new customer contracts, and the prospect of balance-sheet improvement. The analyst tells clients in a note that the new contracts are set to mitigate the impact of insourcing by major customer and shareholder A2 Milk by year three, potentially supplemented by other new customers. The dual-listed dairy product manufacturer's recovery looks solid, they add. Macquarie lifts its target price on the NZX-listed stock 8.7% to 0.50 New Zealand dollar. Shares are up 3.6% at NZ$0.435. (stuart.condie@wsj.com)

0059 GMT - Pinnacle Investment Management's underlying momentum seems intact and the recent pullback in its share price is seen by its new bulls as a buying opportunity. Raising their recommendation on the Australia-listed stock to buy from neutral, UBS analysts tell clients in a note that valuation looks attractive at 12.7 times fiscal 2028 earnings, which represents a 40% relative discount to its historical multiple. They acknowledge some risk from changed valuation assumptions at the listed vehicles managed by private lender Metrics, which is 35% owned by Pinnacle, but believe that any impact has been more than priced in. UBS trims its target price 5.6% to 17.00 Australian dollars. Shares are up 8.4% at A$14.01. (stuart.condie@wsj.com)

0025 GMT - Japanese stocks are lower in early trade as uncertainty about the Iran conflict and higher borrowing costs continues. Auto, steel and financial stocks are leading declines. Toyota Motor is down 2.6%, Nippon Steel is 3.3% lower and Nomura Holdings is down 2.8%. The dollar is at 157.45 yen, compared with Y157.63 as of Monday's Tokyo stock market close. Investors are closely watching developments in the Middle East, oil prices and bond yields. The Nikkei Stock Average is down 0.8% at 65373.77.