China's Export Strategy Strains Global Trade

source:

[1] Remaking Globalization for an Era of Trade Wars - Jacobin (https://jacobin.com/2025/12/globalization-fre ...)[2] Tariffs Hit U.S. Importers as Supply Chains Shift to Vietnam, India and Thailand - TipRanks (https://www.tipranks.com/news/tariffs-hit-u-s ...)[3] Trump trade war shift away from Chinese manufacturing has reached tipping point - CNBC (https://www.cnbc.com/2025/12/07/trump-tariffs ...)

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Dec 13 2025, 06:24

Microsoft Power Deal Earns Constellation Industry Award

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Dec 13 2025, 06:10

Analysts Boost Citigroup, Alphabet Targets

## Executive Summary Wall Street has issued strong votes of confidence for **Citigroup (C)** and **Alphabet (GOOG)**, with J.P. Morgan upgrading the banking giant and TD Cowen increasing its price target for the tech behemoth. The analyst actions reflect optimism in **Citigroup's** ongoing turnaround strategy and **Alphabet's** successful integration of artificial intelligence into its core products. These endorsements have provided further momentum to both stocks, which have already posted significant gains year-to-date. ## The Event in Detail ### Citigroup Upgraded on Turnaround Momentum J.P. Morgan upgraded **Citigroup's** stock to "Overweight" from "Neutral," validating the strategic simplification and restructuring efforts led by CEO Jane Fraser. The bank's shares have gained approximately 59% this year, outpacing rivals like **JPMorgan Chase (JPM)** and **Bank of America (BAC)**. Despite this rally, **Citigroup** stock trades at a lower valuation, with a forward price-to-earnings ratio of 11.2, compared to 15.04 for **JPM** and 12.5 for **BAC**. Analysts at J.P. Morgan noted that "improvement in profitability will be the key driver to further upside." ### Alphabet Target Raised on AI Growth TD Cowen reiterated its "Buy" rating on **Alphabet** and raised its price target from $335 to $350. The firm's confidence is based on strong adoption of **Alphabet's** Gemini AI and its integration into Google Search. According to survey data, the use of AI Overviews is driving higher user engagement. TD Cowen has increased its forecast for Google Search's compound annual growth rate to 10.2% over the next five years and projects that Gemini could reach 850 million monthly average users by the end of 2025. ## Market Implications The dual endorsements from major analyst firms reinforce positive investor sentiment for two distinct but powerful market narratives. For **Citigroup**, the upgrade suggests that its complex, multi-year turnaround is yielding tangible results and gaining credibility, potentially closing the valuation gap with its peers. For **Alphabet**, the revised target underscores the successful monetization and strategic deployment of AI to enhance its dominant search business, positioning it competitively in the ongoing AI arms race. ## Expert Commentary Market analysts have been vocal in their support for both companies. On **Citigroup**, Wells Fargo analyst Mike Mayo, a long-time bull on the stock, stated, "Citi has been our top pick for 2025... It continues to be our top pick for 2026." He previously forecasted that the stock could double in three years. J.P. Morgan analysts added context to the upgrade: > "These [turnaround efforts] should continue to improve Citi's profitability over time - RoTCE should increase more than peers. Valuation has improved from the lows and improvement in profitability will be the key driver to further upside." Regarding **Alphabet**, TD Cowen detailed the drivers behind its revised estimates: > "We are raising GOOG Search estimates on our positive U.S. survey data which indicates i) ramping Gemini chatbot usage following the launch of Gemini 3, ii) continued increases in Search engagement driven by AI Mode and AI Overviews usage, and iii) an increasing share of ChatGPT users that are also using Gemini." ## Broader Context The positive outlook for **Citigroup** aligns with J.P. Morgan's expectation that the broader banking sector is poised to benefit from a "solid economy, strong markets, and a favorable regulatory environment in 2026." Meanwhile, **Alphabet's** success with Gemini highlights a critical trend in the technology sector, where established leaders are leveraging their scale and existing platforms to deploy generative AI. This strategy not only defends their market share but also creates new avenues for growth and user engagement, demonstrating a clear path to AI monetization.

Dec 13 2025, 06:09

Baidu Accelerates Global Robotaxi Rollout

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