-- 澳洲國民銀行（NAB）經濟部週二發布的報告顯示，受海灣衝突影響，澳洲3月份商業信心“暴跌”，重現了2008-09年全球金融危機和新冠疫情時期的低迷景象。 NAB經濟部表示：“中東衝突爆發導致商業信心指數跌至-29點，這是該調查歷史上第二大單月跌幅。如此大幅度的跌幅此前僅在全球金融危機和新冠疫情初期出現過。” 3月份之前，商業信心指數一直持平於零。 NAB經濟部（隸屬於澳洲大型銀行NAB）的報告也指出，儘管澳洲3月商業信心下降，但受訪者認為企業經營狀況基本上保持不變。 NAB經濟部表示：“與此同時，3月份企業經營狀況指數僅下降1點至-6點，這反映出，儘管全球新聞背景影響了市場情緒，但其對實際活動的影響尚處於早期階段。” 然而，NAB經濟部補充道，3月份遠期訂單類別大幅下降，「抹去了年初以來的成長，顯示企業謹慎情緒日益加劇」。 澳洲企業也報告營運成本上升。 NAB表示，3月商品營運成本較上季上漲3%，勞動成本較上季上漲1.5%。 調查結果顯示，3月澳洲企業也報告銷售額下滑，獲利能力下降。 NAB每月商業調查透過電話聯繫約600家小型、中型和大型非農業企業，以評估其商業信心和經營狀況。
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