Australian Research at a Glance - June 22, 2026

研报英文原文证据摘录

Australian Research at a Glance - June 22, 2026

AUSTRALIAN RESEARCH AT A GLANCE

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Tom Narayan (Analyst) RBC Elements™: The EV Slowdown

(212) 428-2364; tom.narayan@rbccm.com Published June 18 2026 17:35:16 EDT

Charging Network Expands; Used BEV Prices Remain a Drag

Our view: In this report, we leverage the capabilities of RBC ElementsTM, our

proprietary in-house data science team to determine what we think is a key and

overlooked driver for the EV slowdown - used car prices in the US. We also note

that European public charging infrastructure has dramatically improved in 2026.

Our work causes us to cut our 2030 US and China BEV forecasts by 10% and 2%

respectively, though we raise our 2030 Europe BEV forecast by 24%. These changes

are positive for legacy US-exposed OEMs GM/F and negative for pure-play EV

makers RIVN/LCID/TSLA. That said, an eventual EV demand recovery in the US could

provide an opportunity for TSLA to further consolidate market share.

Industry Comments

Research RBCCM Global Financials () Global Financials Research Group – Weekly Valuation Overview

rbccmglobalfinancials@rbccm.com Published June 18 2026 21:40:46 EDT

This publication shows estimates and valuations for our coverage of Global

Financials for the week ending June 19, 2026. Please see the footnotes in the

coverage tables for further details.

Please note that all RBC ratings, price targets, estimates, and forward valuation

metrics are as of 5PM ET on June 18, 2026, unless otherwise noted.

Research RBCCM Global Energy (Analyst) Global Majors & E&P Comparative Valuation

(416) 842-7575; rbccmglobalenergy@rbccm.com Published June 18 2026 16:21:53 EDT

• At current levels, North American Senior E&Ps are trading at an average debt-