-- 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：PulteGroup第一季營收為33億美元，略低於市場預期，原因是平均售價（ASP）為54.2萬美元（年減5%），低於預期。不過，該公司交付了6,102套住宅（年減7%），達到預期上限。每股盈餘1.79美元略低於市場預期，毛利率為24.4%，低於預期，原因是激勵措施增加，而銷售、管理及行政費用維持在11.5%的可控範圍內。 PHM展現了以銷售而非價格為策略重點的策略，其強勁的營運執行力體現在社區數量成長9%。淨訂單年增3%至8034套，使積壓訂單恢復至10,400多套，但周轉率從第四季的79%下降至72%。 PHM維持了穩健的資產負債表，擁有18億美元現金，並回購了3.08億美元的股票。同時，董事會批准將股票回購授權額度提高15億美元。我們認為，公司向銷售和市場份額成長的策略轉型使其處於有利地位，但我們預計，短期內，競爭格局和激勵措施的使用將持續對利潤率構成壓力。
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Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of Baker Hughes
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Research Alert: CFRA Maintains Hold Opinion In Shares Of Wab
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 to $285 from $275 following WAB's Q1 earnings print, valuing shares at 24.2x our 2027 EPS outlook of $11.76 (revised from $11.46; 2026 EPS estimate up to $10.57 from $10.50), a slight premium to WAB's long-term historical multiple average given structural improvements in earnings quality. While we are cautious on signs of overcapacity in the freight market, an elevated order backlog (12-month sits at over $9 billion), internal initiatives to shore up margins, and potential synergies from M&A activity positions WAB to continue growing earnings at double-digit rates in 2026-2027, in our view. Despite tariff-related cost pressures, WAB has done a commendable job of defending margins via a mix of pricing, lean manufacturing, and pruning of lower-profit operations. Q1 results were mixed but overall positive, in our view. We maintain our Hold recommendation on shares.
$WAB