-- 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CNH Industrial (CNHI)的12个月目标价从5月4日的14美元下调至12美元，这意味着2026年的市盈率为30倍，高于其五年平均预期市盈率12.4倍，我们认为，这一调整是基于预期利润率的回升。我们维持每股收益(EPS)预测不变。我们认为管理层重申的2026年业绩指引是一个温和的利好信号，表明其对成本控制和库存管理充满信心。尽管如此，我们仍保持谨慎，因为复苏仍取决于农业需求的稳定、经销商库存的减少以及关税相关成本压力的抵消。展望未来，我们预测CNHI 2026年的收入将同比下降1.9%，这反映了农业设备需求的持续疲软、产量下降以及经销商库存的持续正常化。然而，我们预计在终端市场需求逐步改善以及成本控制和定价策略潜在利好等因素的支撑下，2027年营收将同比增长7.5%。因此，我们维持“持有”评级。
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