-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點總結如下：我們將ETR未來12個月的目標股價上調13美元至117美元，市盈率為26倍，基於我們預測的未來12個月每股收益（EPS）為4.49美元，高於其五年平均市盈率18倍。我們將2026年每股盈餘預期上修0.01美元至4.40美元，2027年每股盈餘預期調高0.07美元至4.95美元。 ETR維持其2026年調整後每股收益預期區間為4.25美元至4.45美元（中位數為4.35美元），並將2027年至2029年的預期上調0.20美元至0.50美元，目前預計2029年調整後每股收益為6.40美元。我們認為，該公司獲利成長勢頭強勁，且資本投入充足，為其持續成長奠定了良好的基礎。需要重點關注的執行事項包括：路易斯安那閃電能源公司（Louisiana Lightning）的上市申請獲得監管部門批准（預計2026年12月），在2029年前籌集剩餘的47億美元股權融資，以及在2030-2031年前完成七座新建聯合循環發電廠的建設。我們預期股息成長將與同業保持競爭力（2025年至2028年複合年增長率為5.2%），但我們認為近期股價和估值的上漲已降低了其相對於同業的短期上漲潛力。
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Research Alert: CFRA Maintains Hold Rating On Fair Isaac Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our target price of $1,219, applying 26x our FY 27 (Sep.) EPS estimate, with the compressed multiple reflecting regulatory uncertainty following the FHFA's decision allowing VantageScore in conforming mortgages, introducing the first meaningful competition to FICO's long-standing monopoly. Our EPS estimates are $41.08 for FY 26 (up from $38.48) and $46.90 in FY 27. We maintain our Hold rating while awaiting greater clarity on competitive dynamics and adoption trends for FICO's Mortgage Direct licensing program, with lender uptake remaining uncertain and management's dismissal of competitive threats contrasting with defensive pricing actions. While the company continues demonstrating strong near-term performance and aggressive capital returns through share repurchases, the regulatory landscape has fundamentally shifted in ways that warrant caution. FICO's Platform software momentum, expanding operating leverage, and switching costs offer enough upside to balance the recent industry changes.
$FICO
Research
Research Alert: CFRA Keeps Buy Opinion On Shares Of Cincinnati Financial Corp.
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 price by $7 to $185, valuing CINF shares (currently yielding 2%) at 20x our 2027 operating EPS estimate of $9.15 (raised by $0.10) and at 21.5x our 2026 EPS estimate of $8.60 (raised by $0.10), versus its five-year average forward multiple of 21x and peer average. CINF posted Q1 operating EPS of $2.10 versus a $0.24 operating loss per share a year ago, matching our estimate and topping the $1.94 consensus view, amid 12% higher operating revenues due to 11% premium growth and 14% higher net investment income, with written premium growth of 7% likely at the upper end of peer averages. We believe CINF's competitive strengths include its facile underwriting style and ability to allocate underwriting capital to areas with the most promising fundamentals, positioning it well despite increasingly competitive market conditions. CINF's ability to consistently produce above-peer growth and underwriting profitability will support the shares' premium valuation versus peers, in our view.
$CINF
Research
Research Alert: CFRA Maintains Hold Opinion On Shares Of Linde Plc
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target by $48 to $537, using a P/E of 27.1x, equal to LIN's average forward P/E over the last three years. We raise our 2026 EPS estimate by $0.05 to $18.03 and 2027 by $0.26 to $19.81. LIN reported Q1 adj. EPS of $4.33, beating consensus by $0.06, with 30% operating margins and 24% ROC demonstrating the resilience of its business model. Management raised the low end of full-year guidance to $17.60-$17.90 (7%-9% growth), citing confidence despite geopolitical headwinds. The $7.1B project backlog should reach $8B+ by year-end, driven by Electronics projects supporting AI chip manufacturing. Americas volumes grew 2% Y/Y with double-digit hardgoods growth, though EMEA remains challenged by weak industrial activity. Commercial space is emerging as a significant growth driver, with aerospace sales up double-digits. Helium supply tightness presents upside opportunity beyond guidance. We think shares are fully valued at 25.6x our 2027 EPS estimate, limiting upside potential in the near term.
$LIN