GS EUROPEAN EXPRESS: Strategy & Capex | Real Estate | Knorr-Bremse | Halma | Macro | Global | Corporate Access

研报英文原文证据摘录

GS EUROPEAN EXPRESS: Strategy & Capex | Real Estate | Knorr-Bremse | Halma | Macro | Global | Corporate Access

Goldman Sachs GS EUROPEAN EXPRESS

European A&D Radar: Weekly sector news, positioning data and research insights

Consumer

Birkenstock (BIRK): Further $500mn share buyback announced; remain Buy

Americas Retail: Specialty Hardlines: Analyzing the impact of Best Buy and Meta’s

partnership on eyewear retailers

Henkel (HNKG_p.DE): Modest acceleration ahead in Q2, while environment remains

uncertain; Reiterate Sell

Healthcare

Genmab (GMAB.CO): Detailed Epkinly data in 2L DLBCL should provide additional

reassurance on efficacy

Podcasts

Research Unplugged: Update on Latam Banks, spotlighting Brazil

Inside the Model: Focus on: Data Centers, Networking, AI, and Streaming

On the Road with Goldman Sachs – Asia Pacific: Japan Consumer: China Tour

The Breaks of the Game: Economy and Fed Policy

GS RxChange Series: KOL takeaways from the European Hematology Association

congress

Macro / markets

Oil Analyst: Reducing Our Price Forecast on Deal to Reopen Hormuz - Daan Struyven

reduces his price forecast following President Trump’s announcement of an interim deal

to reopen the Strait of Hormuz. While details are unclear, Daan now assumes that

Persian Gulf exports will normalise to pre-war levels by end July (vs August previously).

He reduces his 2026Q4 Brent forecast to $80 (vs. $90 previously) and to $75 (vs. $80

prior) for the 2027 average and expects WTI to average $75 in 2026Q4 and $70 in 2027.

Daan also now forecasts a somewhat firmer demand recovery in 2026H2-2027 on

improved affordability. Risks to price forecasts remain two-sided with an upside

scenarios pushing Brent above $130 in late 2026 assuming Hormoz remains disrupted