June 10, 2026 01:38 PM GMT REITs / CRE / CMBS | North America The State of CRE: Recovery Continues Despite Rate Volatility In ~100 key charts, we highlight the latest CRE and CMBS data points updated over the past month. The CRE recovery continues, with maturities being extended, lending and originations improving, transaction activity rebounding, and prices stabilizing despite rate volatility. Key Takeaways The State of CRE : We use this report to discuss timely data points in CRE land, such as pricing ter ...

业绩总结 - 报告中提到的相关股票包括HCA、THC、CYH、ADUS、ACHC、CNC、ELV、MOH、UNH、HUM和CVS[2] - Acadia Healthcare（ACHC: $25.50，买入）和CVS Health（CVS: $97.06，买入）被列为推荐公司[22] - Jefferies在过去12个月内的评级分布显示，62.07%的股票被评为“买入”，33.30%为“持有”，4.63%为“表现不佳”[20] 用户数据 - Jefferies的评级体系包括“买入”、“持有”和“表现不佳”，预计“买入”评级的股票在12个月内的总回报率将达到15%或以上[14] - 投资者应根据自身的投资目标和财务状况做出决策[23] 未来展望 - 报告强调，投资者应意识到Jefferies可能与报告中涉及的公司存在利益冲突，这可能影响报告的客观性[33] - 报告可能包含前瞻性陈述，这些陈述可能受到不准确假设或已知或未知风险的影响[39] 新产品和新技术研发 - Jefferies的投资建议基于市场资本化、增长/价值、波动性和预期总回报等多种因素[17] 市场扩张和并购 - 报告仅供专业或机构投资者使用，且不构成对任何证券的买卖建议[35] - 在新加坡，报告仅面向符合资格的专业投资者，且不应向零售客户分发[36] 其他新策略 - Jefferies不对报告中信息的准确性、完整性或及时性提供任何保证，且不对因使用该内容而产生的任何损失负责[41] - 报告的电子版同时向所有客户提供，且未经Jefferies书面同意，不得复制或分发[42] - Jefferies不承担因投资决策而产生的任何直接或间接损失责任[42]

Flash | 10 Jun 2026 09:50:29 ET │ 12 pages B&M Retail (BMEB.L) +44-20-7500-7262 vandita.sood@citi.com | B&M Retail (GBP) | | | | | | | --- | --- | --- | --- | --- | --- | | Year to 31 Mar | 2024A | 2025A | 2026E | 2027E | 2028E | | Sales (£M) | 5,484.0 | 5,570.5 | 5,775.0 | 5,934.4 | 6,074.7 | | Net Income (£M) | 369.0 | 337.0 | 214.0 | 224.0 | 226.5 | | Diluted EPS (p) | 36.7 | 33.5 | 21.3 | 22.9 | 24.5 | | Diluted EPS (Old) (p) | 36.7 | 33.5 | 19.8 | 23.0 | 23.4 | | PE (x) | 5.5 | 6.1 | 9.5 | 8.9 | 8.3 | ...

J P M O R G A N Asia Pacific Equity Research 10 June 2026 Sigma Healthcare Ltd These Boots are made for walking (away) Sigma confirmed press reports that it is "engaged in preliminary discussions in relation to the sale process" of Boots by US private equity firm Sycamore Partners. This follows Sigma's entry into the UK, announced in May, with a low upfront capital cost and JV with Greenlight Healthcare. It is prudent for Sigma to evaluate all opportunities in the markets it operates in, and entering the Bo ...

Flash | 10 Jun 2026 09:47:58 ET │ 10 pages Shin-Etsu Chemical (4063.T) Expanding rare earth refining facilities, a key economic security issue CITI'S TAKE The Nikkei reported on June 10 that Shin-Etsu Chemical will establish new rare earth refining facilities. According to the article, the company will invest over ¥35bn in Fukui Prefecture, with ¥17.5bn coming from subsidies. The company currently operates two refining sites in Fukui Prefecture and has Japan's top refining capacity. Rare earths undergo refi ...

Headline CPI was +4.2% YOY in May, while core CPI was +2.8% vs. +3.8% and +2.7% in April, respectively. Sequentially, the headline and core indices were +0.5% and +0.2%, respectively, vs. JPM Economists' expectations of +0.6% headline and +0.3% core. Retailing – Broadlines & Hardlines / Leisure J P M O R G A N North America Equity Research 10 June 2026 Broadlines & Hardlines Retailing May CPI: Apparel/Sports/Cosmetics Hot; Food/Pet Disinflation; Goods Pricing Also Slowing Christopher Horvers, CFA AC (1-212) ...

Vi e w p o i n t | 10 Jun 2026 09:48:02 ET │ 11 pages Czech Economics Inflation eases near the 2% target, but a June CNB hike appears increasingly likely CITI'S TAKE May inflation slowed to 2.1% YoY, returning very close to the CNB's 2% target, with the favorable outcome driven mainly by declining food prices and easing inflationary pressures in goods. Nevertheless, core inflation remains elevated slightly below 3%, wage and credit growth continues to be strong, and the risk of second-round effects from hig ...

J P M O R G A N North America Equity Research 10 June 2026 Elevance Conference Commentary Reinforces Positive Setup for ELV and MCOs This morning at an investor conference, ELV reaffirmed guidance while providing an update that we thought was positive, highlighting favorability in Medicare Advantage. We think this commentary reinforces what we heard last week on the conference call we hosted with ELV CEO Gail Boudreaux as well as our channel checks (see our recent slide deck here). This continues to support ...

10 Jun 2026 09:40:14 ET │ 10 pages Hitachi (6501.T) Flash | Hosts Hitachi Investor Day 2026 CITI'S TAKE Hitachi hosted Hitachi Investor Day 2026 on the afternoon of June 10, explaining companywide and sector strategies. We view the potential stock price impact as slightly positive. The presentations were sophisticated and strongly emphasized the company's "AI-centric growth" orientation, reaffirming the robustness of its longer-term growth story, leaving a favorable impression overall. Points such as growth ...

10 Jun 2026 09:40:56 ET │ 14 pages Vi e w p o i n t | Brazil Food Manufacturers LatAm Food & Beverages Clipping - (2026_06_10) CITI'S TAKE Citi's LatAm Food & Beverages Clipping Daily Clipping highlights relevant news. Ambev's parent company extends partnership with FIFA for the 2030 World Cup (Folha, June 9) Ambev's strategy to boost World Cup revenue goes far beyond Brahma (Forbes, June 9) European Union suspension could impact Brazilian chicken exports (Canal Rural, June 9) Canada suspends cattle imports ...