-- 週二下午交易時段,金融股走高,紐約證券交易所金融指數上漲0.4%,道富金融精選行業SPDR ETF(XLF)上漲0.2%。 費城房屋指數上漲0.4%,道富房地產精選產業SPDR ETF(XLRE)上漲0.5%。 比特幣(BTC-USD)上漲0.4%至74,730美元,10年期美國公債殖利率下跌2.3個基點至4.27%。 經濟方面,美國3月生產者物價指數(PPI)上漲0.5%,與2月持平,低於彭博社調查預期的1.1%漲幅。受汽油價格飆漲15.7%的影響,能源價格繼上月上漲2.1%之後,3月又上漲了8.5%。剔除食品和能源價格後,核心生產者物價指數(PPI)小幅上漲0.1%,低於先前預測的0.4%的漲幅,也低於2月公佈的0.3%的漲幅。 國際貨幣基金組織(IMF)目前預計2026年美國經濟成長率為2.3%,低於1月預測的2.4%和2025年公佈的2.1%的漲幅。 IMF在周二發布的《世界經濟展望》更新報告中也下調了2026年全球經濟成長預期。 企業方面,花旗集團(C)第一季業績強於華爾街預期,主要得益於固定收益和投資銀行業務收入的兩位數成長。該股上漲3.5%。 富國銀行(WFC)第一季營收不如市場預期,執行長查理·沙夫表示,油價上漲的影響可能存在滯後效應。該股下跌4.3%。 摩根大通(JPM)週二公佈的第一季度業績好於預期,首席執行官傑米·戴蒙表示,美國經濟依然具有韌性,但警告稱面臨“日益複雜的一系列風險”,包括戰爭和能源價格波動。摩根大通股價下跌0.5%。
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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.
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.
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.