FINWIRES · TerminalLIVE
FINWIRES

加拿大皇家銀行稱，DexCom Medicare 覆蓋範圍 NCD 仍是 2026 年最大的催化劑

By

-- 加拿大皇家銀行資本市場（RBC Capital Markets）表示，德康醫療（DexCom，股票代碼：DXCM）第一季全球新增病患數量創歷史新高，而持續血糖監測（CGM）國家覆蓋範圍決定（NCDC）仍是2026年最大的潛在催化劑，也是未來成長的關鍵驅動力。 該券商在周四的一份報告中指出，美國CGM的普及率目前僅佔參保人群的30%左右，即使在任何新增覆蓋範圍擴大之前，仍有巨大的成長空間。 儘管第一季業績超預期主要受匯率因素影響，德康醫療仍重申了2026年營收預期。 RBC表示，德康醫療也重申了其11%至13%的成長預期，其中包括Stelo約100個基點的貢獻。 該券商補充道，儘管投資者仍然關注美國市場成長放緩，但德康醫療報告稱，其在美國的新增患者數量“非常接近歷史最高水平”，這得益於為期15天的G7系統推廣和持續的CGM普及。 加拿大皇家銀行（RBC）表示，該公司5月14日的投資者日是即將到來的關鍵催化劑。該行預計，DexCom 2026年的營收將達到52.2億美元，每股盈餘（EPS）為2.56美元，分別較去年同期成長12%和23%。 該行重申了對DexCom的「跑贏大盤」評級和85美元的目標價。

Price: $60.72, Change: $+1.17, Percent Change: +1.96%

Related Articles

Research

Research Alert: CFRA Reiterates Strong Buy Opinion On Shares Of Agnico Eagle Mines Limited

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We decrease our 12-month target by CAD35 to CAD370, as we value AEM using an EV/EBITDA of 8.4x applied to our 2027 EBITDA estimate, in line with AEM's three-year average forward EV/EBITDA of 8.4x and a premium to the peers' average of 5.3x. We increase our EPS estimates: 2026 by USD1.13 to USD14.65 and 2027 by USD2.71 to USD17.58. AEM delivered a strong Q1 with record operating margins driven by elevated gold prices and disciplined cost control. 2026 production guidance remains 3.3-3.5 million ounces with costs tracking to plan. AEM's balance sheet remains strong with $2.9B in net cash, supporting an industry-leading growth pipeline targeting 20%-30% production growth over the next decade through projects at Detour underground, Canadian Malartic expansion, Hope Bay, and Upper Beaver. The proposed Finland consolidation adds a potential 500k oz platform. Management plans to return 40% of free cash flow via dividends and an expanded $2B buyback program, while simultaneously funding high-return growth projects.

$AEM
International

RBC Sees USD/CAD Range-Bound In Near Term, Gradual Decline Longer Term

RBC Capital Markets in its CAD Weekly Soundbites (Rates & FX) note on Friday said an "event-rich" week "largely came as expected", with a "steady fiscal profile", the Bank of Canada delivering a "modestly hawkish hold" and first-quarter GDP "continuing to track above potential".The bank said the BoC's hawkish tilt reinforces its view for a gradual decline in USD/CAD in the long term. However, it added that recent BoC and Federal Reserve meetings suggest both will be on hold in the short term, leaving a range-bound bias on USD/CAD.In its rates view, RBC said the expected BoC hold was delivered this week, but the balance of changes tilted hawkish. The BoC modestly upgraded its GDP profile, noted the expected absorption of excess slack and said the neutral range discussion was slanted higher, even though the 2.25%-3.25% range was left unchanged.RBC said it maintains its long-held view that the base case is the BoC on hold in 2026, with hikes in 2027, but added that the chance of second-half hikes far exceeds the chance of a cut.On foreign exchange, RBC said this week's marginally hawkish BoC tilt reinforces its longer-run view for a gradual move lower in USD/CAD into next year, partly conditional on the BoC shifting to hikes in 2027, with risk in the second half of 2026.However, in the near term, the bank said it continues to see the pair range-bound, as central bank meetings suggest the BoC and the Fed are likely to be on hold in the coming months, keeping US-Canada rate differentials relatively stable. That should continue to act as a floor under USD/CAD, with the 1.3500 area seen as the bottom of the range.RBC added that a weekly close below 1.3598 has reasserted the downtrend in USD/CAD and favours a re-test of this year's lows at 1.3526 and 1.3482."Below there, the September 2024 low at 1.3420 would come into view. Initial resistance is located at 1.3598 and 1.3661, followed by 1.3728, with rallies to the latter two levels viewed as a selling opportunity," said George Davis, chief technical strategist at RBC Capital Markets.

$$CXY$CAD$usd
Research

Research Alert: CFRA Reiterates Sell Opinion On Shares Of O-i Glass, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We decrease our 12-month target by $6.50 to $7.50, on an EV/EBITDA of 5.5x our 2026 EBITDA estimate, below O-I's one-year average of 5.6x. We decrease our 2026 EPS by $0.58 to $1.25 and 2027 by $0.40 to $1.95. O-I's Fit to Win program achieved $35M in net savings during Q1 and is 50% of the way to its goal of $750M in benefits, a highlight of the quarter. O-I secured 15 new accounts in the quarter that should drive 2H 2026 volume 1.5% higher. We note that volumes were down 8% Y/Y; this trend improved in March, with volumes down only 2%. Management noted that the European segment was the primary driver of poor results, with a $68M decrease from the prior year attributable to softer demand and intense competition in the Southern European wine market. Inflation risks from conflicts in the Middle East are a major risk, potentially adding $75M-$100M in costs if prices remain elevated. We currently see 2027 EBITDA as flat vs. 2025 ($1.23B), but this view could improve if energy prices decrease in 2H 2026.

$OI