-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下： Graco Inc. (GGG)公佈的第一季業績令人失望，有機銷售額年減6%，利潤率也受到壓縮。儘管大多數地區都面臨業務逆風，但收購僅帶來了2%的總成長。亞太地區表現特別疲軟，有機銷售額下降8%。所有三個業務部門都面臨著住宅建設活動疲軟、專案工期不穩定以及持續的關稅相關成本壓力所帶來的收入壓力。充滿挑戰的經營環境反映出抵押貸款利率持續走低抑制了房地產市場，不利的產品/通路組合也影響了獲利能力。管理階層維持了對有機銷售額低個位數成長的預期，但要實現目標，執行力的提升和市場的復甦似乎必不可少。我們認為，由於公司為應對關稅影響而提價，銷量下滑的幅度超過了價格上漲帶來的收益，儘管公司已採取措施提高價格，但通膨壓力仍然持續對其盈利能力構成壓力。
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Research Alert: CFRA Keeps Buy Opinion On Shares Of The Hartford Insurance Group, Inc.
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$HIG
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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
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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