-- 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：我們維持D公司12個月目標價64美元，本益比為17.8倍，基於我們預測的下12個月每股收益3.61美元。該倍數高於D公司五年平均本益比17.1倍，但低於同業平均水平，反映出我們預期該公司近期股息不會成長，且在我們所覆蓋的公用事業板塊中，其近期和長期每股收益增長最為疲弱。我們將2026年每股盈餘預期調降0.01美元至3.59美元，並將2027年每股盈餘預期設定為3.81美元。我們認為，由於CVOW計畫緊急緩衝資金減少（目前僅佔剩餘成本的6%），D公司面臨更高的執行風險。專案延期將進一步增加風險，預計每延期一個季度將增加1.5億至2億美元的成本。目前114億美元的預算並未反映修訂後的232條款對鋼鐵、鋁和銅徵收關稅所帶來的預計2億至3億美元的影響。雖然PJM電網升級成本的潛在重新評估或許能夠抵消部分影響，但其規模和時間尚不確定。鑑於D位於全球最大的資料中心市場，我們仍然認為它是人工智慧蓬勃發展的關鍵推動者。目前已簽約的資料中心容量為51.0吉瓦，高於第四季的48.5吉瓦。
Related Articles
Research
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