-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下：BBD公布第一季度营收为15.99亿美元，同比增长5%，主要得益于服务业务增长25%至6.17亿美元以及交付24架飞机，调整后每股收益达到1.81美元，而去年同期为0.61美元。然而，调整后EBITDA下降1%至2.46亿美元，利润率压缩90个基点至15.4%，而EBIT下降6%至1.67亿美元。受机队运营商需求和Global 8000飞机市场需求的推动，该公司实现了强劲的订单出货比，达到3.6倍，积压订单增长至203亿美元，增幅达43%。管理层将2026财年自由现金流预期从之前的6亿至10亿美元上调至超过10亿美元，并重申了所有其他指标。自由现金流达到3.6亿美元，高于上年的3.04亿美元，在偿还1.5亿加元债券后，杠杆率改善至1.8倍。我们认为，全球8000强企业的需求增长轨迹与积极的市场环境相符，而上调的自由现金流预期表明供应链问题得到了有效控制。
Related Articles
Research
Research Alert: CFRA Reiterates Sell Opinion On Shares Of Hilton Worldwide Holdings Inc
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month price target by $9 to $293, or 32x our 2026 EPS estimate (unchanged) and in line with shares' five-year average forward multiple. We raise our 2026 EPS estimate to $9.16 from $8.88 and lower 2027's to $10.03 from $10.20. Following Q1 results that beat expectations and included raised guidance, we maintain our 2-STARS (Sell) rating. U.S. RevPAR performance broadened from primarily luxury and upper upscale segments to include more meaningful midscale contribution, which management attributes to the return of middle- and low-income consumers. However, we note Q1 results also included ADR deceleration, particularly among luxury hotels, which historically drive significant profit contribution. HLT's Q2 EBITDA guidance of $1,015-$1,035 million being below the $1,081 million consensus suggests luxury pricing power is weakening faster than midscale volume can offset. While the broadening demand trend is positive, we believe slowing luxury tailwinds limit upside at current valuation levels.
$HLT
Research
Research Alert: CFRA Maintains Buy Rating On Shares Of Universal Health Services
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 $200 from $243, reflecting an 8.7x multiple of our 2026 EPS estimate, below peer multiples and a discount to UHS's five-year historical forward average of 11.9x. We lower our 2026 EPS forecast to $22.95 from $23.39 and cut our 2027 view to $25.48 from $25.67. Q1 inpatient volumes were flat on a same-facility basis, with seasonal headwinds from unfavorable winter weather and a milder flu/respiratory illness period. The recent expiration of ACA EPTCs also posed challenges, as UHS estimates a near 5% drop in ACA adjusted admissions relative to Q1 2025. UHS maintained its prior forecast of a 25%-30% decline in ACA exchange volumes during the full year, which represented around 6% of the acute care business adjusted admissions in 2025 and under 5% of the acute care segment revenues. UHS anticipates a $75M pre-tax earnings hit in 2026 from these developments, unchanged from prior guidance.
$UHS
Asia
Shenghe Resources' Q1 Profit Jumps 94%, Revenue Climbs 13%
Shenghe Resources' (SHA:600392) net profit attributable to shareholders in the first quarter jumped 94% to 327.3 million yuan from 168.3 million yuan a year earlier, according to a Shanghai bourse filing on Thursday.Earnings per share rose year on year to 0.1867 yuan from 0.0960 yuan.The Chinese rare earth miner's operating revenue climbed 13% to 3.38 billion yuan from 2.99 billion yuan in the previous year.
$SHA:600392