FINWIRES · TerminalLIVE
FINWIRES

スコシアバンクは、プリンスエドワード島の財政見通しが手頃な予算案で悪化したと述べている。

-- スコシアバンクによると、プリンスエドワード島では、歳入の減少と歳出の増加により、財政支出の削減や新たな負担軽減策の策定といった努力にもかかわらず、当初の予測よりも大きな赤字と債務増加のペースが見込まれるという。 同行は、今後の赤字削減は、プリンスエドワード島が歳出見直しを通じて計画している年間2億ドルの歳出削減目標の達成と、医療費支出の伸びの抑制計画に大きく左右されると指摘した。 2026年度の赤字は、中間報告の3億6,700万ドル(名目国内総生産の3.2%)から増加し、4億5,000万ドル(名目国内総生産の4%)と推定されている。また、2027年度の4億1,000万ドル(3.5%)から2029年度には3億3,800万ドル(2.6%)に減少すると予測されている。 実質GDP成長率は、2025年の推定2.4%から下方修正され、今年と2027年には2%の成長が見込まれる。 スコシアバンクは、長期にわたる高水準の財政赤字が、今後の見通しにおいて州の純債務をさらに押し上げると指摘した。純債務は、2026年度の37億7000万ドル(GDP比33.2%)から、2027年度には45億ドル(38.1%)、2028年度には48億9000万ドル(39.8%)へと増加し、2029年度には51億3000万ドル(39.9%)に達すると予測されている。 同行は、巨額の財政赤字と資本増強計画により、州の資金需要は依然として高水準にあると付け加えた。 2027会計年度の総資金需要は、2026会計年度の10億5,000万ドルから9億1,840万ドルに減少すると見込まれています。これは、連結赤字(4億1,000万ドル)、固定資産取得費(4億8,650万ドル)、および国営企業向け純借入額(1億510万ドル)によるもので、後者は償却費(1億6,620万ドル)によって一部相殺されます。 これらの借入需要は、長期借入9億ドルと短期借入および運転資金1,840万ドルによって賄われる予定です。

Related Articles

Research

Research Alert: CFRA Keeps Buy Opinion On Shares Of The Hartford Insurance Group, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price by $8 to $155, valuing HIG shares at 11.3x our 2026 operating EPS estimate of $13.75 (cut by $0.45) and at 10.6x our 2027 EPS estimate of $14.65 (cut by $0.30), vs. the shares' one-year average forward multiple of 10.3x and peer average of 13x. Q1 EPS of $3.09 vs. $2.20 a year ago missed our $3.60 estimate and $3.39 consensus view. Operating revenue growth of 6.2% was in line with our 6%-10% forecast, amid 5.3% earned premium growth, 13% higher net investment income, and 7.9% fee revenue growth. Q1 written premium growth of 4% and full-year 2025 growth of 7% bode well for 2026 revenue trends as premiums are earned. Underwriting results improved significantly, with Personal Lines combined ratio improving to 87.7% from 106.1% and underlying combined ratio to 85.0% from 89.7%. Business Insurance combined ratio was stable at 94.8%. Weighing the Q1 EPS miss with HIG's decent top-line growth and discounted valuation to peers, we view the shares as undervalued.

$HIG
Research

Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of Baker Hughes

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $14 to $82, reflecting a combination of our sum-of-the-parts (SOTP) and DCF models. For our SOTP model, we presume the oilfield services business (about 50% of BKR's franchise) to be valued at about 10x projected 2027 EBITDA (in line with major peers) and its industrial energy technology business (the other 50%) valued at 14x projected 2027 EBITDA (in line with the peer median). This blended approach, yielding a 12x multiple, implies a value of $73 per share. Meanwhile, our DCF model, using medium-term free cash flow growth of 5% per year, terminal growth of 2.5%, discounted at a WACC of 6.3%, yields intrinsic value of $91 per share. We cut our 2026 EPS estimate by $0.47 to $2.48, but we raise 2027's by $0.07 to $3.24. We acknowledge that the oilfield services business is likely to struggle in 2026 owing to the U.S.-Iran conflict, but the IET business appears quite robust and likely to be a source of both accelerating revenue growth and margins.

$BKR
Research

Research Alert: CFRA Maintains Hold Opinion In Shares Of Wab

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target to $285 from $275 following WAB's Q1 earnings print, valuing shares at 24.2x our 2027 EPS outlook of $11.76 (revised from $11.46; 2026 EPS estimate up to $10.57 from $10.50), a slight premium to WAB's long-term historical multiple average given structural improvements in earnings quality. While we are cautious on signs of overcapacity in the freight market, an elevated order backlog (12-month sits at over $9 billion), internal initiatives to shore up margins, and potential synergies from M&A activity positions WAB to continue growing earnings at double-digit rates in 2026-2027, in our view. Despite tariff-related cost pressures, WAB has done a commendable job of defending margins via a mix of pricing, lean manufacturing, and pruning of lower-profit operations. Q1 results were mixed but overall positive, in our view. We maintain our Hold recommendation on shares.

$WAB