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Goldman Sachs
Goldman Sachs research highlights 2026 as a pivotal growth year across multiple sectors, even as various regions navigate immediate macro headwinds. In the real estate and lodging space, the firm notes that CapitaLand Investment is executing an asset-light transition focused on divestments, while Airbnb is projected to achieve low-double-digit revenue growth driven by international expansion. Within the gaming sector, analysts remain optimistic about long-term catalysts like Wynn Resorts' UAE project, despite recent margin compression in Macau where GGR market share fell. Conversely, the firm has adopted a more cautious stance on Brazilian financials, downgrading BB Seguridade due to a cooling top-line and forecasted earnings contraction. Regarding China’s macro landscape, Goldman Sachs observes a divergence where total social financing beat expectations at RMB 7.22 trillion, yet primary property prices continued to fall by an annualized 5.3% in January. Overall, the research direction points toward tactical navigation of China's property correction while positioning for a recovery in global consumer and fee-based business models by 2026.
619 reports available
Global Shipyard Logbook February
The global shipbuilding industry saw 20% YoY order volume growth in January 2026, driven primarily by tankers and LNG carriers. While China is slightly expanding capacity, strong demand is expected to maintain newbuild price stability.
China 70-City Average Primary Property Prices Decline Accelerated In January
China's primary home prices saw an accelerated decline of 5.3% mom annualized in January, with weakness spreading across all city tiers. Despite recent easing, secondary markets show even sharper declines of 10-25% over the past year.
Asian Equity Perspectives
Goldman Sachs has raised its 12-month MXAPJ index target to 890 and upgraded Japan to Overweight, citing a significant upward inflection in regional earnings growth to 31%.
Euro Area Data Update: Area-Wide Q4 GDP Growth Confirmed
Euro area Q4 2025 GDP growth was confirmed at +0.3%, while the preliminary tracking estimate for Q1 2026 remains soft at the same level. Industrial activity showed signs of weakness with an estimated -1.4% decline in December production.
Banco Santander Model Update and CMD Preview
Goldman Sachs maintains a Buy rating on Banco Santander with a revised price target of €12.60, anticipating a 2028 ROTE target of over 20% to be unveiled at the upcoming Investor Day.
Instacart Q4 2025 Earnings Review
Instacart delivered a robust Q4'25 earnings report with GTV outperforming estimates and positive Q1 guidance, prompting Goldman Sachs to reiterate its Buy rating and increase the price target to $69.