-- 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：我们将SCCO未来12个月的目标股价下调31美元至190美元，基于2027年EBITDA预期，其企业价值/息税折旧摊销前利润（EV/EBITDA）为13.5倍，高于SCCO过去三年的平均预期EV/EBITDA 12.8倍和同行平均水平8.0倍。我们将2026年每股收益（EPS）预期下调1.73美元至6.81美元，并将2027年EPS预期下调2.55美元至7.01美元。SCCO维持其年产铜160万吨的目标，同时推进其超过205亿美元的资本投资计划，其中Tia Maria项目（年产能12万吨）预计将于2027年第三季度投产。然而，由于秘鲁矿区矿石品位下降，第一季度铜产量同比下降4.0%，但管理层预计品位将在2026年底前恢复。SCCO首席执行官Oscar Gonzalez Rocha去世后，领导层更迭带来了一些不确定性，不过新任首席执行官Leonardo Contreras拥有丰富的运营经验。SCCO的溢价估值反映了其一流的成本结构、丰富的储量和增长潜力，但考虑到生产方面的不利因素以及主要项目的执行风险，我们认为其目前的上涨空间有限。
Related Articles
Commodities
EMEA Natural Gas Update: Futures Slip as Iran Sends Fresh Proposal to Washington
European natural gas futures traded lower after-hours on Friday after Iranian state media reported that Tehran had sent another proposal for negotiations with the US via Pakistani diplomatic channels, a development seen as potentially paving the way for renewed transit through the Strait of Hormuz.The front-month Dutch TTF contract fell 1.211% to 45.43 euros ($53.36) per megawatt-hour, while the UK NBP contract slipped 1.533% to 111.15 British pence ($1.51) per therm.US President Donald Trump, speaking to reporters at the White House on Friday, said, "Iran wants to make a deal, but I'm not satisfied with it," CNBC reported.Market participants continue to weigh geopolitical risk against relatively stable European supply conditions and weaker demand elsewhere. In a Thursday note, S&P Global analysts said Europe has benefited from "significant demand destruction elsewhere," noting that although the war has effectively removed about 20% of global LNG supply, European imports have remained broadly steady.The note said Asia has absorbed much of the demand adjustment. It said China recorded a 19% year-on-year drop in LNG imports in March, according to government data.Benchmark LNG prices remain elevated, but off recent highs, they said. The JKM benchmark for Northeast Asia put prices at $18.309/MMBtu on April 30, up 8.3% on the day. The DES Northwest Europe LNG marker was assessed at $15.719 per MMBtu on Apr. 29, up 7.9% day-on-day.The analysts said both benchmarks remain above pre-conflict levels but have retreated from peaks seen in the early weeks of the disruption.European storage levels remain below last year's levels. Gas Infrastructure Europe reported inventories at 32.49% as of Friday, compared with 39.22% a year earlier.CERA analysts project EU storage could reach about 80% by the end of October under a base-case scenario, assuming a resumption of steady Hormuz transit by Jun. 1.EU LNG imports rose slightly year over year in March, supported by cargoes already en route when the conflict began in late February, according to CERA data. However, that buffer has since faded, with April imports down roughly 6.9% from 2025 levels.Looking ahead, Severe Weather Europe said Friday it is monitoring the potential development of a "super El Nino" pattern. One scenario that could develop would be an increase in the risk of dry conditions and drought across Central Europe this summer.
Australia
Nebius to Acquire Eigen AI in $643 Million Cash-And-Stock Deal
Nebius Group (NBIS) said Friday it has agreed to acquire inference and model optimization firm, Eigen AI, in a cash-and-stock deal valued at about $643 million.The acquisition will strengthen Nebius Token Factory as a frontier managed inference platform for production AI, the company said, adding that the deal also accelerates its expansion in the US.The transaction is expected to close in the coming weeks, it said.Nebius shares were up over 10% in afternoon trading.Price: $152.93, Change: $+14.70, Percent Change: +10.63%
$NBIS
Australia
Paychex Raises Quarterly Dividend to $1.19 a Share From $1.08, Payable May 29 to Shareholders of Record as of May 13
Price: $92.59, Change: $-0.04, Percent Change: -0.04%
$PAYX