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加拿大帝国商业银行 (CIBC) 确认对 Stella-Jones 的“中性”评级，并将目标股价下调至 87 美元，理由是该公司第一季度业绩不佳。

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-- 加拿大帝国商业银行资本市场（CIBC Capital Markets）维持对Stella-Jones（SJ.TO）股票的“中性”评级，并将目标价从96.00加元下调至87.00加元。下调的原因包括略微下调预期，以及由于对中长期铁路枕木需求的担忧加剧，该行将Stella-Jones的EV/EBITDA估值倍数下调了0.5倍。此前，Stella-Jones于周三公布了第一季度业绩。 该行补充道，Stella-Jones计划于2025年春季进军钢结构公用事业领域，目前进展顺利。该公司致力于成为公用事业和铁路行业的多材料供应商，这一愿景为其提供了额外的增长动力。 分析师Hamir Patel表示：“尽管如此，六个月前，由于担心SJ核心市场的竞争加剧，以及木杆价格上涨（自2021年以来，SJ的价格/结构已上涨55%），再加上一级铁路公司持续推进铁路行业并购和枕木资本支出紧缩，我们已暂停对该股的持有。” 加拿大帝国商业银行（CIBC）将第二季度息税折旧摊销前利润（EBITDA）预期下调300万美元至1.91亿美元，主要原因是电线杆价格预期略有下调，以及住宅木材和工业产品业务的预期更为谨慎。该公司目前预计2026年EBITDA将与上年持平，为6.23亿美元，2027年EBITDA将增长4%，达到6.47亿美元。 （报道北美、亚洲和欧洲主要银行及研究机构的股票、商品和经济研究。研究机构可通过以下链接联系我们：https://www..com/contact-us）

Price: $76.10, Change: $-0.91, Percent Change: -1.18%

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