Jefferies Aggressively Hikes Mining Targets as Japan’s GDP Miss Weakens Yen

By / / Breaking News

Key Takeaways

  • Jefferies issued a sweeping series of price target upgrades for the gold and copper sectors, signaling a highly bullish outlook on precious and base metals.
  • Japan’s Q4 2025 GDP growth fell short of market expectations, triggering a rise in the EUR/JPY pair above the 181.50 level.
  • Expedia (EXPE) faced a sharp valuation cut as Jefferies slashed its target price by $45, citing shifting travel demand dynamics.
  • Thailand’s Finance Ministry set a formal GDP growth target of 3%, establishing a floor of 2% for the upcoming fiscal year.
  • ByteDance is tightening IP safeguards following internal and external concerns regarding the unauthorized use of likenesses and intellectual property in its Seedance 2.0 project.

Jefferies Bullish on Metals, Bearish on Expedia

Jefferies analysts dominated the morning’s financial headlines with a massive recalibration of price targets across the materials and travel sectors. The firm showed significant conviction in gold and copper miners, raising targets for Newmont (NEM) to $158 from $136 and Barrick Gold (GOLD) to $66 from $60. This bullish sentiment extended to mid-tier players, with Alamos Gold (AGI) seeing its target lifted to $61 and Endeavour Mining (EDV) boosted to C$112.

In a notable divergence, Jefferies analysts took a cautious stance on the online travel agency sector. The firm cut its price target for Expedia (EXPE) from $285 down to $240, suggesting potential headwinds in the digital booking space. Conversely, the firm remains optimistic about the aviation recovery in North America, lifting the target for Air Canada (AC) to C$22 from C$18.

Japan’s Economic Data Weighs on the Yen

Fresh economic data from Tokyo has sparked volatility in the currency markets. Japan’s Q4 2025 GDP growth arrived below analyst forecasts, reinforcing the dovish outlook for the Bank of Japan. This miss pushed the EUR/JPY exchange rate above the 181.50 threshold as traders reacted to the sluggish recovery.

Additional data showed that while Industrial Production remained flat at -0.1% month-over-month in December, Capacity Utilization saw a significant rebound. The utilization rate climbed 1.3%, a sharp reversal from the previous -5.3% contraction. Despite this internal manufacturing efficiency, the 2.6% year-over-year industrial production growth was not enough to offset the broader GDP disappointment.

Corporate Shifts: Tech Safeguards and Healthcare Targets

ByteDance is moving to protect its ecosystem following concerns over Seedance 2.0. The company confirmed it is strengthening safeguards against the unauthorized use of IP and likenesses, a move seen as a proactive step to avoid legal friction in the evolving AI and digital content landscape. Simultaneously, business schools are reportedly struggling to establish clear AI guidelines as the technology rapidly integrates into academic and professional environments.

In the healthcare and automotive sectors, analysts are also adjusting their expectations. Jefferies raised its target for Moderna (MRNA) to $37 from $30, reflecting a stabilizing outlook for the biotech giant. Meanwhile, TD Cowen analysts issued a significant upgrade for Magna International (MGA), boosting the price forecast from $58 to $75, signaling confidence in the automotive supplier's growth trajectory for 2026.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. We are not financial professionals. The authors and/or site operators may hold positions in the companies or assets mentioned. Always do your own research before making financial decisions.
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