-- 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12个月目标价从153美元上调至160美元。这一上调基于我们对2027财年每股收益5.60美元（目标价152美元）的预期，并计算出平均27.1倍的预期市盈率。该预期市盈率高于过去五年平均水平18倍，主要得益于有利的需求趋势和强劲的息税前利润增长带来的可观销售增长。此外，我们还采用了现金流折现模型，假设终端增长率为2.5%，加权平均资本成本为7.9%，未来十年自由现金流复合年增长率为12.0%（目标价168美元）。我们将2026财年调整后每股收益预期从4.64美元上调至4.85美元，并将2027财年调整后每股收益预期从5.51美元上调至5.60美元。财报发布后，江森自控(JCI)股价小幅下跌。考虑到该公司此前已连续九个财年盈利超出预期，我们认为其对第三财季盈利预期与预期相符的预测力度不够。然而，我们注意到江森自控历来奉行保守的业绩指引，并认为数据中心支出和客户对冷却基础设施的投资将带来显著的长期增长潜力。我们认为，这仍然是关键的增长驱动力。因此，我们将利用任何股价下跌的机会买入。我们认为，江森自控目前的股价水平仍具有极具吸引力的风险回报比。
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