-- 加拿大皇家銀行資本市場將CGI公司（GIB-A.TO，GIB）的評級從「跑贏大盤」下調至「與產業持平」。 分析師保羅·特雷伯將這家總部位於蒙特婁的資訊技術諮詢和軟體開發公司的目標價從150美元下調至100美元。 週三，在CGI公佈季度業績後，其股價下跌10.86美元，跌幅10.8%，收在89.78美元。 特雷伯在給客戶的報告中表示：“CGI股價在公佈第二季度業績後下跌11%，表明鑑於人工智能的不確定性，市場情緒日益悲觀。” 這位分析師還表示：“儘管CGI的股價目前處於多年來的低位，但我們認為其估值上調的可能性已經降低。” 「我們認為，人工智慧可能對IT服務定價和成長帶來的不利影響這種悲觀情緒，可能會比我們之前預期的持續更長時間，尤其是在CGI的內生成長一直低於預期的情況下，」特雷伯表示。 「過去10個季度，CGI的內生成長平均比我們的預期低99個基點，而該公司經歷了7個季度的負成長，」這位分析師表示。 “雖然大部分成長缺口源於週期性因素，但我們認為，人工智慧相關的價格通縮和替代效應加劇，可能會對未來的內生成長構成不利影響。”
Related Articles
Research
Research Alert: CFRA Reiterates Buy Opinion On Shares Of Chipotle Mexican Grill Inc
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price at $44, 35x our 2026 EPS estimate, a discount to shares' 50x five-year average, reflecting a lower comparable sales growth profile. We raise our 2026 EPS estimate to $1.26 (from $1.25) and lower 2027's to $1.45 (from $1.46). Following encouraging Q1 results, we reiterate our Buy opinion. CMG posted comparable sales growth of 0.5%, including transaction growth of 0.6%, which highlights the company's focus on value perception with U.S. consumers. We are encouraged by comparable sales growth stabilization following declines in 2025, suggesting the company's structural growth profile remains intact. Further evidence of structural growth catalysts includes new store growth (+49 in Q1) and a pipeline of limited-time offerings and incremental add-ons (such as its cilantro lime sauce) gaining traction and boosting revenue without increasing menu prices. Though this strategy will pressure restaurant margins (-250 bps in Q1), we think this is beneficial for long-term growth.
$CMG
Research
Research Alert: CFRA Maintains Sell Rating On Shares Of Mid-america Apartment Communities, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price by $6 to $119, recognizing weakness in MAA's key rental markets and a forward P/FFO of 14.0x compared to the multifamily residential REIT average at 15.5x. We raise our FFO estimate in 2026 by $0.15 to $8.50 and lower 2027 by $0.10 to $8.70 per share on total rental revenue of $2.2B and $2.3B, respectively. We have a more cautious FFO outlook for 2027 on our view that raising rents on new leases will be challenging, as it has been in 2026. MAA's geographic footprint in mostly Sun Belt markets faces new supply that has put downward pressure on monthly lease rates and sparked the need for incentives on new tenant leases to meet absorption and reduce vacancies. We do not think the U.S. economy and employment trends are likely to be a catalyst for higher monthly rental rates or revenue. Some of MAA's major Sun Belt markets realized cash NOI declines, like Denver (-13% Y/Y) and Austin, TX (-9% Y/Y), with weakness in other local markets. Dividend yield is 4.7%, which we think is secure.
$MAA
Research
Research Alert: CFRA Keeps Hold Opinion On Shares Of Vlto
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We adjust our target price to $100 from $115 following Q1 results, valuing shares at 22x our unchanged 2027 EPS outlook of $4.53, near peers' three-year historical forward P/E average. We lift our 2026 EPS view to $4.20 from $4.15. VLTO delivered a solid Q1 beat, with operating EPS of $1.07 rising 12.6% Y/Y and surpassing consensus of $1.01, while core sales grew roughly 2% Y/Y, led by stronger Water Quality revenues (up 4%) offsetting a 1% decline in Product Quality and Innovation. China remained a mixed bag, with divergent performance across segments. Operating margins expanded modestly, rising 10 bps to 25.1%, reflecting bottom-line improvements despite mixed sales performance. FCF was up 19.7%, supporting approximately $1B in capital deployment during the quarter, including $620M for the acquisitions of In-Situ and GlobalVision and $300M in share repurchases. VLTO also initiated a cost optimization program expected to generate annual savings of $65M to $75M by 2028.
$VLTO