World air journey restoration will stay weak near-term, says analyst

International air traffic is likely to remain sluggish in the short term as uncertainties about Omicron’s Covid variant persist, according to an aviation analyst.

Brendan Sobie, independent analyst at Sobie Aviation, said omicron has achieved passenger confidence in “travel right now because things are changing every day”.

“The recovery that we hoped would continue into the first half of next year is simply not going to happen. That will be a setback, “Sobie told CNBC’s” Squawk Box Asia “on Thursday. “Because we don’t know too much about this variant and we don’t know what’s coming up.”

While much is still unknown about Omicron, the World Health Organization warned that the variant spreads “significantly faster” than the delta strain and could change the course of the pandemic.

The highly infectious variant has now been detected in at least 89 countries and forced some governments to impose stricter containment measures during the holiday season.

Singapore freezes new quarantine-free ticket sales

On Wednesday Singapore said it would freeze new ticket sales for quarantine-free travel to limit the number of Omicron cases imported.

Singapore’s vaccinated itineraries program has been key to the hinge of the country’s “Living With Covid” strategy, and the latest move is dealing a significant blow to those efforts. Stocks of Singapore’s travel stocks like Singapore Airlines fell Wednesday after the announcement.

“Singapore Airlines will be hit by the setback in the VTLs,” noted Sobie.

He added that things are not moving in the right direction for Asia Pacific airlines which is “very disappointing”.

“It’s been such a difficult year for airlines in the Asia-Pacific region – a lot worse than expected,” said Sobie.

“It looked like it would get better. Unfortunately, it is only going in the opposite direction now.”

Hong Kong’s zero-Covid method frustrates companies, says analyst

Hong Kong’s strict zero-covid approach is the biggest frustration for overseas companies operating there, an analyst told CNBC on Tuesday.

The city is sticking to strict Covid measures – with up to three weeks of mandatory quarantine and other testing requirements – even if authorities have relaxed similar restrictions elsewhere.

Asked how Local politics and Covid measures are hurting business confidence in Hong Kong, the founder of publishing and research firm Big Brains said the latter was the bigger concern.

“I think it’s more frustrating right now in Hong Kong, especially with overseas companies… keeping up with its zero-covid strategy – and its announcement that it is going to stand up for [the] Rest of China before it opens up to the rest of the world – which makes business people here, their families, and their general lifestyle quite frustrating, “said Simon Cartledge.

“It’s been a long time,” he said. “It is very difficult to travel.”

The Hong Kong and mainland authorities have worked towards the establishment Quarantine-free travel between the two regions. China has one too Zero Covid Strategy.

Hong Kong again this week tightened measures as Omicron cases increased worldwide.

The city has stuck to its zero-covid approach, although the number of cases is small compared to other places in Asia. According to Our World in Data, the city has a 7-day moving average of 0.72 daily cases per million population as of December 19, compared with 66.75 for Singapore and 1.14 for Japan.

Governments in the Asia-Pacific region, including Singapore and New Zealand, initially took an aggressive approach through bans and tight restrictions on most of the pandemic. But many countries around the world have shifted to a “living with Covid” approach as vaccination rates have increased.

However, Allan Zeman, chairman of property developer Lan Kwai Fong Group, argued that strict Covid rules helped Hong Kong stay safe.

“But that has worked the other way around, it has helped Hong Kong because we can walk freely on the streets. Everyone wears a mask. It’s very, very important, ”he told CNBC’s Street Signs Asia. “I think in general we are safe and it is different from the horror stories I am currently watching in Europe and the US.”

Several Cities across Europe are reintroducing restrictions. In the UK, cases double roughly every two days as London hospital admissions increase. On Monday, the U.S. Centers for Disease Control and Prevention said Omicron is now that dominant strain of Covid in the USAwhich accounts for 73% of the sequenced cases. The average daily number of cases in New York City more than doubled for the week ending Friday, December 17.

Zeman said consumer spending has been “incredible” over the past six months as fewer people are leaving the area. Hong Kong retail sales rose for the ninth straight month in October, up 12% year over year to Hong Kong dollars ($ 3.94 billion), according to government data in November, according to Reuters.

Attack on the “five eyes”

Zeman, who was running for the Hong Kong Legislative Council this week, defended changes to the Hong Kong electoral system and attacked the Five Eyes intelligence nations who criticized the revision.

the Five eyes alliance, consisting of Australia, Canada, New Zealand, Great Britain and the USA, made a statement on Monday and expressed “serious concern about the erosion of democratic elements” in the Hong Kong electoral system.

Previously, half of the representatives on the Hong Kong Legislative Council were directly elected by regular Hong Kongers; according to new rules, was about a fifth. A Electoral Committee which previously had limited powers, now selects almost half of the council representatives directly, and it screens anyone who wants to run for the other places.

Zeman, who lost his race but is the economic advisor to Hong Kong Chief Executive Carrie Lam, said, “I would defend Hong Kong by saying that Five Eyes should focus on their own countries and look at their systems first, which is what I do do not think works very well. I believe this is a new system for Hong Kong that can really work. “

Analyst Forecasts For Accel Leisure, Inc. (NYSE:ACEL) Are Surging Greater

Celebrations may be appropriate for Accel Entertainment, Inc. ((NYSE: THAT) Shareholders, with analysts vastly improving their legal estimates for the company. Consensus estimates suggest that investors can expect sharp increases in statutory sales and earnings per share, with analysts modeling a real improvement in business performance. Investors were pretty bullish on Accel Entertainment, too, with its stock rising 11% to $ 13.46 over the past week. It will be interesting to see if today’s upgrade is enough to propel the stock any higher.

After the upgrade, the six analysts at Accel Entertainment are now forecasting sales of $ 684 million in 2021. If that were achieved, it would mean a significant increase in sales of 92% compared to the previous 12 months. The losses are expected to go away in the next year, with earnings projected at $ 0.37 per share this year. Prior to this last update, analysts had forecast sales of $ 612 million and earnings per share (EPS) of $ 0.26 for 2021. So we can see that analyst sentiment has risen significantly lately in both sales and earnings per share according to the latest estimates.

Check out our latest analysis for Accel Entertainment

NYSE: ACEL earnings and revenue growth May 15, 2021

It won’t be surprising to learn that as a result of these upgrades, analysts increased their target price for Accel Entertainment by 8.7% to $ 15.58. However, setting a single price target can be unwise because the consensus target is effectively the average of the analyst price targets. As a result, some investors enjoy looking at the various estimates to see if there are different opinions about company valuation. There are a few different perceptions at Accel Entertainment, with the most bullish analyst rating it at $ 20.00 and the most bearish at $ 13.00 per share. Analysts definitely have different views on the business, but we don’t think the spread of estimates is wide enough to suggest extreme results could be awaiting Accel Entertainment shareholders.

One way to get more context about these predictions is to examine how they compare to past performance and how other companies in the same industry are doing. For example, we’ve determined that Accel Entertainment’s rate of growth is expected to accelerate significantly. Annual sales growth of 138% is forecast by the end of 2021. This is well above the historic decline of 18% per year last year. In contrast, our data suggests that other companies (with analyst coverage) in the industry are forecasting revenue growth of 22% per year. Not only are Accel Entertainment revenues expected to improve, but analysts expect faster growth than the industry as a whole.

The bottom line

Most importantly, with this upgrade, analysts have revised their earnings per share estimates for this year in anticipation of an improvement in business conditions. They have also updated their sales estimates for this year, and sales are expected to grow faster than the broader market. Given that the consensus seems almost broadly bullish with a significant increase in forecasts and a higher price target, Accel Entertainment may be worth investigating further.

Analysts are definitely bullish at Accel Entertainment, but no company is perfect. In fact, you should know that there are a few potential concerns to be aware of, including last year’s dilutive stock issue. For more information, you can click through to our platform Learn more about this and the other two flags we identified .

Another way to look for interesting companies that might be Reaching a turning point is to track whether the management buys or sells with ours free List of growing companies that insider buy.

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Analyst on outlook for Prime Glove, Malaysian glove shares

SINGAPORE – The recent fall in prices for Malaysian rubber glove manufacturers is “unjustified,” said an analyst who predicts further uptrend for stocks.

Shares of Top glove, the world’s largest manufacturer of rubber gloves, is down 17.7% this year at the close of trading on Monday. His smaller colleagues Hartalega, Super max and Kossan fell between 18% and 30%.

In comparison, the benchmark FTSE Bursa Malaysia KLCI Index fell by 0.9% over the same period.

Employees at Top Glove, the world’s largest glove manufacturer, will test latex glove production in a waterproof test room at one of the company’s factories in Selangor, Malaysia on February 18, 2020.

Samsul said | Bloomberg | Getty Images

“We are maintaining our overweight position in the sector as we believe the recent decline in share prices is not justified,” wrote Ng Chi Hoong, an analyst at Malaysian investment bank Affin Hwang, in a report on Monday.

The decline in Malaysian glove inventories followed a significant jump in the last year if the Covid-19 pandemic increased demand for medical gloves.

Factors affecting investor confidence in the stocks include a potential decline in glove retail prices with lower demand as more people are vaccinated around the world, Ng said.

In addition, Top Glove’s plans to list in Hong Kong – the third public listing after Malaysia and Singapore – also sparked concerns that the company is raising funds in anticipation of a weaker outlook, he said.

But those concerns are likely to subside, Ng said. Here are its target prices for Malaysia’s glove inventory.

Affin Hwang’s target price for Malaysian glove stocks

Stocks Monday is over (Malaysian ringgit) Guide price (Malaysian ringgit) head
Top glove 5.04 10.10 100%
Hartalega 9.70 5 p.m. 75%
Super max 4.21 10.90 159%
Kossan 3.66 9.30 154%

Challenge to stay above pre-covid levels

The analyst said the increase in average glove retail prices was unsustainable and forecast a 30% to 35% price drop in 2022. Still, prices are likely to stay above pre-pandemic levels for at least the next two to three years. he said.

This is partly because the demand for gloves is expected to continue to grow in the coming years as the medical sector makes more personal protective equipment use, Ng said.

He added that he agreed with the report by consultants Frost and Sullivan, commissioned by Top Glove, which said demand for disposable gloves would grow an average of 15% annually for the next five years.

Such demand growth would be accompanied by a 20% annual supply increase over the next few years, Ng said.

Top Glove is planning a listing in Hong Kong

Another development that has fueled recent price moves in Malaysian glove stocks is Top Glove’s planned third listing in Hong Kong.

The company said last month that it applied for one “dual primary collection” in Hong Kong, that could bring in up to 7.7 billion ringgit ($ 1.87 billion). It said it will keep its current primary listing in Malaysia and secondary listing in Singapore.

Investors reacted negatively to news that the additional listing would dilute Top Glove’s earnings per share.

Nonetheless, Ng has kept his buy recommendation for Top Glove and his Malaysian colleagues. He said the decline in stock prices had lowered valuations to levels “too cheap to ignore”.

The analyst added that Malaysian glove makers have a higher dividend yield and better return on equity compared to their international counterparts – a measure of financial performance.

Top Glove on Tuesday reported an increase in quarterly earnings to 2.87 billion ringgit ($ 695 million) for the three months ended February from 115.68 million ringgit ($ 28.03 million) a year ago.

The company said global demand for gloves continues to be “strong” as the Covid pandemic has led to an increase in glove use and hygiene awareness.

Irv Cross, NFL participant, pioneer Black analyst, dies at 81 | Leisure

PHILADELPHIA (AP) – Irv Cross, the former NFL defender who became the first black full-time sports analyst on national television, died on Sunday. He was 81 years old.

The Philadelphia Eagles, with whom Team Cross spent its six of its nine NFL seasons, said Cross’ son Matthew confirmed his father died near his home in Roseville, Minnesota. The cause of death was not given.

“We all at CBS Sports are saddened by the news of Irv Cross’s death,” said Sean McManus, chairman of CBS Sports, in a statement. “Irv was a pioneer who made a significant contribution to the history and tradition of CBS Sports and, together with Phyllis George and Brent Musburger, set the standard for NFL pregame shows with ‘The NFL Today’. A true gentleman and a pioneer in the sports television industry, he will be remembered for his accomplishments and the paths he paved for those who followed. “

Cross, from Hammond, Indiana, played soccer and athletics in Northwestern. He was drafted in the seventh round of Philadelphia in 1961, traded to the Los Angeles Rams in 1966, and returned to the Eagles in 1969 as a player-coach for his final season.

The two-time Pro Bowl cornerback had 22 interceptions, 14 fumble recovery, eight forced fumbles and a few defensive touchdowns. He was also returned an average of 27.9 yards on kickoff returns and punts.