-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下：我們將FCX未來12個月的目標價調高3美元至72美元，基於2027年EBITDA預期值的6.8倍EV/EBITDA，此倍數低於FCX過去三年平均預期EV/EBITDA的7.3倍。鑑於格拉斯伯格礦區先前停產後復產的延遲，我們認為這一折讓是合理的。鑑於銅金價格的強勁上漲，我們將2026年每股收益預期上調0.29美元至2.85美元，並將2027年每股收益預期上調0.80美元至4.00美元。 FCX與印尼簽署了一份關鍵的諒解備忘錄，將格拉斯伯格礦區的營運權延長至2041年以後，為這一世界級高品位銅金礦資產提供了長期前景。儘管由於濕礦石帶來的物料處理挑戰，格拉斯伯格礦場的產能提升計畫短期內面臨延誤，但管理層已找到工程解決方案，預計將於2027年中期恢復生產。 FCX的內生成長計畫前景廣闊，包括旨在新增8億磅銅產量的創新浸出技術、可能使巴格達產能翻倍的擴建項目以及智利埃爾阿布拉礦的擴建項目。
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Petro Rabigh Emerges From Loss in Q1; Revenue Grows
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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.
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