The Point for North America

This report covers key investment themes in North American markets, highlighting an upgrade for AMD, conference takeaways for regional banks, and infrastructure challenges for Texas data centers.

Key Takeaways

• 1.AMD upgraded to Buy with $575 price target due to GPU market growth and AI demand.
• 2.Texas datacenter growth faces infrastructure, permitting, and resource obstacles despite robust demand.
• 3.US Regional Banks show resilience with improved PPNR, though commercial deposit competition persists.

Table of Contents

• Morning Call Highlights
• Must Read
• US Regional Banks - Conference Takeaways
• Charles River Laboratories Int. Inc. (CRL.N) - Takeaways from Meeting with Management
• US Diversified Utilities - Texas Power Field Trip Takes
• Company
• Industry
• Economics & Strategy