-- 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EG的12個月目標價上調15美元至365美元，基於我們2026年每股收益預期53.16美元（今日下調0.99美元）的7倍市盈率，以及2027年每股收益預期60.65美元的6倍市盈率，低於過去一年的平均遠期市盈率。我們承認EG的估值相對於同業存在折價，這反映了其重組情況。因此，我們預計2026年營收將持平或下降5%。第一季每股收益為16.08美元，高於去年同期的6.45美元，也高於我們先前15.27美元的預期和13.96美元的市場普遍預期。營業收入下降4.4%，其中已賺保費下降7.2%，投資收益成長15%，而綜合比率則從102.7%大幅改善至91.2%。我們讚賞EG的重組，包括出售其零售商業保險業務的續保權，以專注於其核心再保險業務。 EG預計2025年至2026年將產生2.5億至3.5億美元的稅前費用。鑑於EG承保業績喜憂參半，我們擔心轉型為純粹的再保險公司可能不會提升其估值倍數。
Related Articles
Australia
Expand Energy Progresses on Margins, Buybacks as Shares Trade at Discount, RBC Says
Expand Energy (EXE) is advancing margin-enhancing commercial initiatives and could see increased shareholder returns through stock buybacks, with its shares trading at a "meaningful discount to peers," RBC Capital Markets said in a report emailed Monday.The firm highlighted a new 1.15 million tonnes per annum LNG offtake agreement tied to Delfin FLNG Vessel 1, which pulls forward prior timelines and supports the company's goal of $0.20 per thousand cubic feet equivalent in margin expansion, equivalent to roughly $500 million in free cash flow, according to the report.Expand Energy remains "on track" to meet its 2026 budget of $2.75 billion to $2.95 billion and production guidance of 7.4 billion to 7.6 billion cubic feet equivalent per day, while retaining flexibility to adjust activity levels in response to weak natural gas prices, the report said.The firm cited encouraging early results from Western Haynesville wells and ongoing leadership transition progress, with a CEO expected in H2 of 2026, and said that after about $1.3 billion in Q2 debt repayment, capital returns are likely to increasingly favor buybacks over "variable dividends," according to the report.RBC has an outperform rating on Expand Energy, with a price target of $145.Price: $99.78, Change: $-0.34, Percent Change: -0.34%
$EXE
Research
Research Alert: CFRA Keeps Hold View On Shares Of Mohawk Industries, Inc.
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 price target to $109 from $132, 12.5x our 2026 EPS estimate of $8.71. We believe this premium multiple is justified by the long-term pent-up demand opportunity and the company's financial flexibility to navigate near-term energy cost pressures. We model a 30-bp operating margin decline in 2026 due to energy costs, which we expect will negate leverage benefits despite modest revenue growth. Our assumptions yield 2026 EPS of $8.71 (revised from $9.54) and 2027 EPS of $9.85 (revised from $10.89). The primary risk to our thesis is the potential for the current energy shock to extend into 2027, which would further weaken consumer demand and likely require downward revisions to future earnings. For now, we expect continued spending from wealthier consumers and a seesawing but present commercial demand to provide a floor for the business. This balance of near-term risk against long-term recovery potential keeps us on the sidelines, awaiting greater clarity on the macroeconomic environment.
$MHK
Australia
Piper Sandler Raises Tyson Foods Price Target to $80 From $75, Overweight Rating Kept
Tyson Foods (TSN) has an average rating of hold and mean price target of $68.54, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $66.19, Change: $+2.51, Percent Change: +3.93%
$TSN