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

1919 ET - AML3D's bull at Bell Potter reckons that risks around the Australian 3D printer's long-term outlook are lessening with the firming of the U.S. Navy's collaboration plan. Analyst Daniel Laing tells clients in a note that the Navy's letter of intent looks strategically significant. His forecasts already factor in a material step-up in U.S. industrial sales, but he is nonetheless positive on the Navy's acknowledgement that AML3D's tech is pivotal to its additive-manufacturing needs. Bell Potter raises its target price 17% to A$0.35 and keeps a buy rating on the stock. Shares are at A$0.25 ahead of the open. ([email protected])

1916 ET - T-Mobile may have limited upside given its premium valuation, relatively high institutional ownership and record-high growth forecasts, BofA Securities analysts say in a note. The company's target of 5.5 million to 6 million post-paid net adds this year has become a north star for investors, and might be the telecom company most exposed to heightened competition from cable providers looking to defend their broadband bases, the analysts say. Investors seem to be paying close attention to that metric, with the stock falling 11% after the company missed its subscriber expectations by 5,000 customers in 1Q, they say. ([email protected])

1855 ET - Northern Star Resources's reset of its FY 2026 expectations should allow investors to move forward, Jefferies says. The company now expects to produce 1.70 million-1.85 million oz of gold in the current year, down from prior guidance of 2.0 million oz. It forecast all-in sustaining costs of A$2,300-A$2,700/oz, which is materially above consensus expectations. "That said, the spend delivers production growth at lower cost and drives the company down the cost curve," analyst Mitch Ryan says. "We do see some risk on the as-yet-unquantified Hemi development spend and ongoing sustaining capital requirements across the portfolio." Still, it considers the reset to be a "key cleansing step" for investors. Jefferies cuts its price target by 9.1% to A$20.00/share. Northern Star ended Monday at A$16.80. ([email protected]; @dwinningWSJ)

1848 ET - Australia's S&P/ASX 200 is set to fall at the open following U.S. President Trump's latest tariff moves. ASX futures are down by 0.6% ahead of Tuesday's session, which straddles the Reserve Bank of Australia's latest interest-rate decision. Many economists are tipping the central bank to cut the cash rate by 0.25%, but futures trading suggests that trade tensions are front of investors' mind. U.S. equities retreated after Trump's announcement of higher tariffs on trading partners, notably Japan and South Korea. The S&P 500 fell 0.8%, the Nasdaq Composite lost 0.9%, and the Dow Jones Industrial Average gave up 0.9%. ([email protected])

1847 ET - Origin Energy's minority owned Octopus business in the U.K. could be worth 13 billion British pounds, says Jefferies. That would equate to A$3.59/share of value for Origin's 22.7% stake. It is well above the last equity valuation of Octopus more than a year ago of GBP7 billion, or A$1.80/share for Origin. Analyst Amit Kanwatia thinks investors recognize the potential upside in Octopus's customer service platform Kraken. Still, he says the optimal strategy to unlock this value for Origin shareholders is unclear. "A premature selldown appears to be less favored, whereas a separate listing may have scope to be a more viable option," Jefferies says. Origin ended Monday at A$11.55. ([email protected]; @dwinningWSJ)

1820 ET - As competition intensifies across the telecommunications sector AT&T's stock looks poised to outperform, BofA Securities analysts say in a note. The company has a well-balanced strategy to drive accelerating growth through its owned wireless and fiber assets, the latter of which is key to its long-term growth. At the same time, AT&T is lowering leverage and clearing a path for higher capital returns to shareholders, with plans to repurchase $20B of stock by the end of 2027, they say. Those two factors should help AT&T trade closer to T-Mobile than Verizon, they say. ([email protected])

Telecom is often overlooked as a sleepy, mature industry, where a rising tide often lifts all boats, BofA Securities analysts said in a note. That could be changing, though, given the share performance since 2023. T-Mobile has posted a total return of 53%, AT&T has climbed 84%, and Verizon fell short of the S&P 500 with a 27% rise, they say. Such different performances show company-specific factors rather than industry strength or macroeconomic trends are growing in importance as competition increases and strategies diverge. ([email protected])

1441 ET - Airlines' upcoming 2Q earnings reports probably won't show signs of a recovery from the tariff-induced slowdown that struck in March and April, according to several analysts. Demand pulled back when consumer and business confidence deteriorated from the onslaught of new tariffs Melius Research analysts say in a note. It has since stabilized, but from a lower base, they say. The booking curve remains compressed because consumers are still hesitant about booking too far out, the analysts say. 2Q ultimately shaped up better than feared, but there's no question that cracks in the macroeconomic environment remain, Morgan Stanley analysts say in a research note. ([email protected])

1435 ET - Airlines will likely cut capacity even more than they're already planned if demand doesn't improve in the coming months, UBS analysts say in a research note. Current schedules reflect muted capacity growth in 3Q, they say. It remains to be seen if airlines will fully follow through on their comments in April, as tariffs cut into consumer confidence, to slash domestic capacity in 2H, UBS' analysts say. Delta has guided for flat capacity growth in the back half of the year, while American Airlines and Southwest have indicated that capacity will be lower, the analysts add. ([email protected])

1408 ET - Cantor says the price that Core Scientific shareholders are getting in Coreweave's acquisition "appears low." According to the deal, Core shareholders will receive 0.1235 shares of Coreweave, equating to $20.40 a share based on Coreweave's closing price on Thursday. Core Scientific is currently off 17% to $14.85 while Coreweave is down 3.8% to $158.96, implying that Core is trading at a steep discount, the analysts say. "We believe the market is under-appreciating what Core Scientific's deal with CoreWeave is worth, as well as additional capacity it currently has available for AI/HPC [high-performance computing]," the analysts say.([email protected])

1330 ET - Chime Financial should continue to lure business from traditional banks as it expands beyond its core customer base, UBS analysts say in a note. Chime has a clear strategy to better serve Americans earning up to $100,000 annually without charging punitive fees, and could extend that to higher-income demographics, the analysts say. The company has likely penetrated around 4% of its large total available market, which could nearly double to around 7% by the end of 2028 as its active-member count grows an average of about 14% annually, the analysts estimate.([email protected])

1325 ET -- Investors are increasingly making bets on restaurants that have lagged in recent years, like Cracker Barrel, Dave & Buster's and Bloomin' Brands, UBS analysts say in a note. Investors appear to be encouraged by recent sales momentum and earnings that are set up to beat expectations, the analysts say. Restaurant hiring also gained steam in June, reflecting continued recovery in the industry after pressure earlier in the year, they say. Risks remain, though, with sales at small business restaurants slowing last month and recent surveys showing consumers plan to cut back on restaurant spending, they note. ([email protected])

(END) Dow Jones Newswires