-- 摩根士丹利周三发布的一份报告显示，佳明（Garmin，股票代码：GRMN）第一季度业绩略好于预期，其中健身业务再次表现突出。 报告称，健身业务实现了“超预期增长”，营收增速创11年来新高，毛利率提升470个基点。 摩根士丹利表示，佳明维持全年业绩展望不变是“年初的惯例”，未来仍有上调预期的空间。报告还指出，管理层预计高端消费支出不会出现下滑，市场需求依然强劲，且不受地缘政治紧张局势的影响。 摩根士丹利表示，虽然预计今年零部件成本上涨的影响不大，但到2027年可能会成为不利因素。 由于盈利能力好于预期，摩根士丹利将佳明2026年每股收益预期从9.50美元上调至9.80美元。其2027年每股收益预期目前为10.36美元，下调1%，部分原因是市场预期明年零部件成本将上涨。 摩根士丹利将Garmin股票的目标价从252美元下调至249美元，并维持“持有”评级。
Price: $249.33, Change: $-3.75, Percent Change: -1.48%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CLX reported Q3 FY 26 net sales of $1.67B, flat Y/Y with organic sales down 1%, while adj. EPS of $1.64 grew 13% and beat consensus by $0.10. Gross margin contracted 140 bps to 43.2% due to elevated manufacturing costs and unfavorable mix, though disciplined expense management supported earnings. Mixed segment performance showed Household and International delivering growth of 3% and 8%, respectively, while Lifestyle declined 9% on lower consumption and inventory adjustments. Management updated FY 26 guidance expecting net sales to decline ~6% with organic sales down ~9%, including a 7.5%-pt ERP headwind. Adj. EPS guidance of $5.45-$5.65 represents a 27%-29% decline, with gross margin expected to contract 250-300 bps from GOJO inventory step-up and elevated energy costs. The April 1 GOJO acquisition expands the health portfolio though near-term integration costs pressure results. We believe the completed $580M digital transformation positions CLX for long-term operational improvements despite macro headwinds.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Rivian (RIVN) posted Q1 adjusted EPS of -$0.55 vs. -$0.41, ahead of the -$0.60 consensus. Revenue rose 11% to $1.38B ($10M ahead of consensus) on a 20% increase in total vehicle sales to 10,365 units, augmented by a 49% Y/Y increase in software and services revenue to $473M. RIVN's gross margin contracted 800 bps to 8.6%, but was ahead of the 8.4% consensus. The quarter's financial results reflect the company's strategic pivot toward broader market accessibility with the R2, though at the cost of near-term profitability. RIVN maintained prior 2026 guidance for adjusted EBITDA, vehicle deliveries, and capex. The company ended Q1 with cash of $4.8B, down from $6.1B at year-end 2025. Shares are trading 1% higher in after-hours trading. RIVN's Q1 earnings were ahead of expectations, although cash burn remains a key concern, with free cash flow deteriorating, driven by increased operating expenses and working capital consumption. Execution risks remain high given challenging demand facing the broader EV industry.
Tanger (SKT) reported Q1 core funds from operations late Thursday of $0.59 per diluted share, up from $0.53 a year earlier.Analysts polled by FactSet expected $0.58.Revenue in the three months ended March 31 rose to $150.4 million from $135.4 million a year earlier.Analysts surveyed by FactSet expected $142.9 million.The company raised 2026 FFO guidance to $2.42 to $2.50 per diluted share from $2.41 to $2.49.Analysts polled by FactSet expect $2.47.Tanger shares fell 2.3% in after-hours trading.