-- 獨立研究機構CFRA向發布了以下研究報告。 CFRA分析師的觀點總結如下：我們將12個月目標價下調8美元至196美元，市盈率為19倍（2026年每股收益預期不變），較其五年平均預期市盈率23倍有所折讓，這反映了地緣政治風險。我們將2026年每股收益預期從10.74美元下調至10.33美元，並將2027年每股收益預期從12.07美元下調至11.58美元，主要原因是中東衝突導致總預訂量成長放緩。鑑於公司長期的競爭優勢和暫時的地緣政治不利因素，我們維持「買入」評級，因為該股目前被低估。該公司的「互聯旅行」平台和「天才」忠誠度計畫正在支持利潤率更高的直接預訂，這表明人工智慧舉措正在加強消費者參與度，而不是削弱平台的中介作用。強勁的自由現金流為未來的股東回報提供了支持，其中包括第一季36億美元的股票回購。儘管中東衝突將影響第二季的預訂量，但BKNG以往的經驗表明，在經歷地緣政治或經濟動盪後，旅遊業往往會反彈。美國第一季的客房夜數成長加速至10%左右，為短期成長提供了動力。
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International
FOMC Holds Federal Funds Rate Steady at Range of 3.50% to 3.75%
Sectors
Update: Gold Falls to a Month Low as Rising Energy Costs Expected to Boost Inflation
(Updates prices.)Gold traded lower for a third-straight day early Wednesday, pressured by inflation worries even as the Federal Reserve's policy committee is expected to leave rates unchanged when it ends its two-day meeting this afternoon.Gold for June delivery was last seen down US$50.40 to US$4,558.00 per ounce, the lowest since March 30.With oil trading near four-year highs amid the Iran war, traders have moved away from gold as a safe haven, turning instead to the dollar and bonds to hedge against the threat rising energy prices will boost inflation and force interest rates higher."With oil-led inflation risks remaining the main driver, as rising energy prices strengthen the dollar and reinforce a higher-for-longer interest rate outlook. For now, the market's immediate focus remains on mediation efforts, with a reopening of the strait and a subsequent drop in oil prices representing the biggest short-term upside catalyst for both gold and silver," Saxo Bank noted.But higher rates are not yet on the way. The Federal Open Market Committee and the Bank of Canada will both release interest-rate decisions today and both are expected to leave rates steady.The dollar was higher, with the ICE dollar index last seen up 0.25 points to 98.89. Treasury yields also moved up, with the U.S. two-year note last seen paying 3.918%, up 6.8 basis points, while the yield on the 10-year note was up 4.7 points to 4.4%.
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Sectors
Sector Update: Energy Stocks Rise Wednesday Afternoon
Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each rising about 2%.The Philadelphia Oil Service Sector Index was increasing 0.5%, and the Dow Jones US Utilities Index was shedding 0.5%.Oil prices rallied Wednesday after US President Donald Trump reportedly rejected an Iranian proposal to lift the naval blockade. Trump told Axios on Wednesday he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal. Iran wanted the Strait of Hormuz opened before the two sides could sit down to discuss uranium enrichment at a later stage.Front-month West Texas Intermediate crude oil jumped 7.3% to $107.18 a barrel, and the global benchmark Brent crude contract climbed 7.4% to $119.47 a barrel. Henry Hub natural gas futures fell 2.2% to $2.63 per 1 million BTU.In corporate news, Phillips 66 (PSX) shares jumped past 6%. The firm reported Q1 adjusted earnings Wednesday of $0.49 per diluted share, swinging from a loss of $0.90 a share a year ago. Analysts polled by FactSet expected a loss of $0.54 a share. Phillips 66 also raised its annualized quarterly dividend by 7%.Bloom Energy (BE) shares surged nearly 24% after it reported Q1 adjusted earnings late Tuesday of $0.44 per diluted share, up from $0.03 a year earlier. Analysts polled by FactSet expected $0.12. Revenue also handily beat market consensus.TotalEnergies (TTE) shares were up 0.9% after it posted higher Q1 adjusted earnings and revenue.
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