HSBC raised Merck (MRK.N) PT to $150 from $135.

Samsung Electronics, the world’s largest memory-chip maker, is due to report Q2 results Tuesday. Analysts’ consensus: preliminary operating profit ~KRW84.3 trillion (~$55.1bn), up about 18x YoY and exceeding Samsung’s entire 2025 profit; revenue seen up 127% to a record KRW169 trillion. Since June, chip stocks have repeatedly sold off on concerns about intensifying competition, potential capacity overhang and returns from large AI investments, raising the stakes for Samsung’s print. With expectations already high, the company has limited room to disappoint. Roundhill Financial CEO Dave Mazza said results close to expectations would help calm the supply-demand dispute and be positive for Samsung.

Goldman Sachs raised its target price on Huahong Hongli (01347.HK) to HK$333 from HK$174 and reiterated a Buy rating, citing stronger demand for AI chips and data-center power-management ICs as large-model capabilities improve (citing Meituan-W’s LongCat2.0). The bank expects generative AI to sustain demand, forecasts continued ramp-up of 12‑inch capacity and a product-mix shift toward 40nm and 28nm, and lifted net profit forecasts for FY2027–FY2029 by 1%–8%. Goldman projects operating margin to rise from 1% in FY2026 to 4%/8%/12% in FY2027/FY2028/FY2029, normalizing at 14%–17% in FY2030–FY2031.