Citi‘s Most Read – Global

研报英文原文证据摘录

Citi‘s Most Read – Global

and a downside Catalyst Watch on QCOM due to downside risk on incremental

smartphone unit weakness.

Atif Malik

North America Life Science Tools & Diagnostics - 2Q26 Preview: Optimism Once

Again for Gradual (Glacial?) Recovery to Arrive

From our conversations, investor appetite appears to be slowly returning across

our coverage after an underwhelming 1Q and concerns of AI disruption, with

cautious optimism for the elusive end-market recovery to materialize. To help

understand 2H dynamics, we conducted a proprietary survey with Citi’s Research

Innovation Lab regarding ordering patterns and expectations, with a focus on

instrumentation ahead of reshoring timelines and bioprocessing trends.

Sentiment on AI for Tools is gradually turning positive, with the view that AI could

accelerate drug development and support re-investments into R&D pipelines. CRO

interest remains on the lighter side with AI overhangs persisting despite sustained

higher biotech funding. Heading into 2H, we reiterate WAT/WST as our top Life

Science picks, GH our top Diagnostic pick, and CRL our top CRO pick (adding

upside 90-day CRL Catalyst Watch).

Patrick Donnelly | Brendan Digan | Albert Hu | Nicole Dragotta

Samsung Electronics (005930.KS) - Preliminary 2Q26 Earnings Review

Samsung Electronics posted strong 2Q26 preliminary OP result of W89.4tr (+56%

QoQ/+1,812% YoY, OPM: 52%), driven by sharp DRAM and NAND ASP growth on

robust server DRAM and eSSD demand. With memory supply remaining tight

through 2027E and Samsung uniquely positioned as an end-to-end AI turn-key

provider, we see sustained structural growth ahead. We update our model and

reiterate Buy with an unchanged TP of W530k.

Buy | Target price W530000.0

Peter Lee