-- 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：我們維持對安進(AMGN)的目標股價為398美元，相當於我們最新預測的2027年每股收益(EPS)的17.1倍，高於安進10年曆史平均水平14.1倍，這主要得益於其前景的增強。我們將2026年每股盈餘預期從22.15美元上調至22.56美元，並將2027年每股盈餘預期從22.83美元上調至23.23美元。安進第一季業績強勁，各項業務均展現出顯著的正面成長動能。該公司六大核心成長引擎在本季創造了56億美元的收入，年增24%。其中表現突出的產品包括Repatha（年增34%）和罕見疾病藥物Uplinza（年增188%）。在產品線推進方面，我們仍然對安進公司肥胖症治療候選藥物MariTide的進展感到鼓舞。安進公司宣布了新的III期臨床試驗，旨在探索更低給藥頻率（每8週或12週一次）的方案，我們認為這是一個關鍵的潛在差異化優勢。 MariTide每月甚至更低頻率（每季一次）的給藥方案有望成為一項重要的差異化優勢，從而提高患者的用藥便利性和長期依從性。
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Research Alert: CFRA Maintains Sell Opinion On Shares Of Molson Coors Beverage Company
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target by $5 to $35, based on a 2027 P/E of 7.0x, a justified discount to TAP's five-year average forward P/E of 11.4x. We raise our adjusted EPS estimates by $0.20 to $4.90 for '26 and by $0.10 to $5.10 for '27. Following TAP's Q1 earnings release, we are lowering our price target and maintaining a Sell opinion on the shares. TAP posted Q1 adjusted EPS of $0.62 vs. $0.50 (+24%), well ahead of the $0.36 consensus. The beat was due to stronger-than-expected sales and margins, as net sales rose 2.0% to $2.35B ($25 above consensus) on a 2.9% drop in financial volume and gross margin expanded 130 bps to 38.2% (350 bps ahead of consensus). While TAP's Q1 earnings were well ahead of expectations, the fact that it didn't increase full-year guidance raises concerns that the balance of the year will be weaker than previously anticipated, with positive foreign exchange impacts likely to be less favorable than in Q1. We struggle to identify a catalyst and see the demand environment remaining challenging.
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Research Alert: CFRA Keeps Buy Opinion On Shares Of Etsy, Inc.
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 by $4 to $78, based on a 14x EV/EBITDA multiple applied to our 2026 EBITDA estimate of $814M (raised from $770M; +11% Y/Y growth). We lift our 2026 EPS to $5.32 from $4.62 and 2027's to $5.72 from $4.91. ETSY delivered a strong Q1 beat, with GMS rising 5.5% Y/Y and active buyers returning to modest Q/Q growth. That said, results benefited from several one-time tailwinds, including FX (a 190 bps lift to GMS) and higher average order values due to tariffs and the removal of de minimis. The company's Q2 outlook, calling for GMS growth of 3%-5% Y/Y, suggests near-term momentum is intact. The key debate shifts to the back half of the year, when comps become more challenging. We remain constructive, supported by improving customer metrics, including stabilizing repeat and habitual buyer trends, which we attribute to recent app enhancements (e.g., personalization, discovery). We also expect a sizable share repurchase following the $1.2B Depop sale, which is anticipated to close by Q3.
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Research Alert: CFRA Maintains Hold Opinion On Shares Of Cgi Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our price target by CAD36 to CAD102, 11.5x our FY 26 (Sep.) EPS view, below CGI's three-year average (~18x) on macro uncertainty and U.S. Federal risks. We lower our FY 26 EPS view by CAD0.02 to CAD8.88 and lower FY 27's by CAD0.12 to CAD9.40. We are concerned that Q2's continued sales deceleration (+1.6% ex-FX, -180 bps Q/Q, -170 bps Y/Y) reflects structural pressure rather than just temporary issues. Q2's bookings decline (-4% Y/Y) and lower TTM book-to-bill of 108.4% (-220-bps Y/Y) also signal risk as clients keep delaying spending decisions, and we note the decline came despite strong bookings performance in U.S. Federal (TTM book-to-bill of 110.9%), where CGI's expectation of an organic sales growth resumption in Q3 carries uncertainty and may be overshadowed by European weakness, in our view. The company's lack of formal guidance increases our uncertainty. Nonetheless, a below-historical valuation and targeted Q3 organic sales pickup in U.S. Federal offer near-term upside if CGI can execute.
$GIB.A