-- 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： USB公佈了2026年第一季業績，表現好壞參半。 GAAP每股收益為1.18美元，高於去年同期的1.03美元，超出市場預期0.04美元；營收為73億美元，與預期相符，較去年同期成長5%。手續費收入持續維持成長勢頭，年增7%，主要得益於信託和投資管理費（年增10%至7.45億美元）以及資本市場收入（年增29%至3.77億美元）。淨利息收入年增4%，但淨利差為2.77%，較上月持平，年比僅成長5個基點，仍低於歷史水準及同業表現。信貸品質呈現喜憂參半的趨勢，淨沖銷額較上季惡化2個基點至56個基點，但不良資產從上年的17.3億美元降至15.3億美元。資產負債表增長反映了商業貸款的強勁增長抵消了消費貸款的疲軟，平均貸款總額同比增長4%至3940億美元，其中商業貸款同比增長11%至1500億美元，而平均存款同比增長2%至5150億美元。
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Asia Markets
Saudi Shares Start Week Higher; US-Iran Peace Talks Canceled
The Tadawul All Share Index closed Sunday 0.11% higher as investors assessed the latest updates regarding the conflict in the Middle East.US President Donald Trump said on his Truth Social account that the Pakistani trip for his envoys, Steve Witkoff and Jared Kushner, was canceled. The announcement dimmed the hopes for peace talks between Iran and the US to happen any time soon.Further to this, Israel launched an attack in Lebanon on April 25. The strikes, which targeted Hezbollah, resulted in four casualties and facility damage in Southern Lebanon.Back at home, Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Thob Al Aseel (SASE:4012) posted their financial results for the three months ended March 31. Petro Rabigh emerged from a loss in the first quarter, while Thob Al Aseel logged a higher net profit and revenue."The reason for net profit reported during the current quarter compared to a net loss recorded in the same quarter of last year was primarily attributable to improved product margins resulting from stronger refined product pricing and higher sales volumes," Petro Rabigh said in its report.Petro Rabigh rose 10% at closing, while Thob Al Aseel ticked down 1.59%.Meanwhile, the local calendar will be mostly empty except for the kingdom's preliminary figures for its GDP growth rate for the first quarter and the M3 money supply and private bank lending data for March on Thursday.
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Research
Research Alert: CFRA Maintains Hold Rating On Shares Of United Rentals Inc.
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 to $1,100 from $950 following a strong first quarter, valuing shares at 20.5x our 2027 EPS outlook of $54.28 (in line with previous estimate; 2026 EPS also in line). We believe a higher multiple is justified given URI's firming market leadership within an expanding rental equipment industry. A robust Q1 beat enabled URI to raise its full-year revenue guidance to $16.9B-$17.4B and adjusted EBITDA to $7.625B-$7.875B, citing momentum heading into a busy season. With leverage well below historical levels, we believe accretive M&A deals could serve as a potential catalyst for additional guidance increases. Margin compression has been a sticky issue for URI, but Q1 indicated that pricing may have turned around and that headwinds are starting to ease as quarterly results begin to lap when tariff-related inflation began to pick-up. We remain cautious on margins, though are encouraged by signs of stabilization. New project activity is likely supporting pricing trends, in our view.
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Equities
Petro Rabigh Emerges From Loss in Q1; Revenue Grows
Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, said Sunday it swung back to profit in the first quarter of 2026, while revenue increased year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 1.47 billion Saudi riyals, compared with the attributable loss of 691 million riyals earlier. EPS moved to 0.88 riyal from a loss per share of 0.41 riyal.The Tadawul-listed oil refining and petrochemical company's revenue was 14.85 billion riyals, compared with 11.21 billion riyals a year ago.
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