-- 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：我們將目標股價從408美元下調至395美元，基於2026年每股收益預期18倍的預期市盈率，該市盈率低於ROP過去三年的平均市盈率。我們將2026年每股盈餘預期從21.49美元上調至21.95美元，並將2027年每股盈餘預期從22.92美元上調至23.40美元。 ROP公佈了強勁的第一季業績，營收和利潤均超出市場預期。營收達21億美元，較去年成長11%（有機成長6%），主要得益於應用軟體銷售成長加速（年成長11.6%）和網路軟體業務強勁成長（年成長14%）。調整後EBITDA為7.97億美元，利潤率為38.1%（年減120個基點）。展望未來，我們注意到部分領域（如Deltek和貨運市場）持續面臨不利因素，併購活動也較緩慢。不過，我們對本季執行的15億美元股票回購計畫表示讚賞，並認為隨著大規模股票回購的持續，每股盈餘成長潛力將進一步提升。管理層將2026年全年調整後每股收益預期上調至21.80美元至22.05美元（中位數同比增長9%），上調0.50美元，反映了第一季業績超出預期以及股票回購的良好勢頭。
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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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