-- 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ETR未来12个月的目标股价上调13美元至117美元，市盈率为26倍，基于我们预测的未来12个月每股收益（EPS）为4.49美元，高于其五年平均市盈率18倍。我们将2026年每股收益预期上调0.01美元至4.40美元，2027年每股收益预期上调0.07美元至4.95美元。ETR维持其2026年调整后每股收益预期区间为4.25美元至4.45美元（中值为4.35美元），并将2027年至2029年的预期上调0.20美元至0.50美元，目前预计2029年调整后每股收益为6.40美元。我们认为，该公司盈利增长势头强劲，且资本投入充足，这为其持续增长奠定了良好的基础。需要重点关注的执行事项包括：路易斯安那闪电能源公司（Louisiana Lightning）的上市申请获得监管部门批准（预计2026年12月），在2029年前筹集剩余的47亿美元股权融资，以及在2030-2031年前完成七座新建联合循环发电厂的建设。我们预计股息增长将与同行保持竞争力（2025年至2028年复合年增长率为5.2%），但我们认为近期股价和估值的上涨已降低了其相对于同行的短期上涨潜力。
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Research Alert: CFRA Maintains Hold Rating On Fair Isaac Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our target price of $1,219, applying 26x our FY 27 (Sep.) EPS estimate, with the compressed multiple reflecting regulatory uncertainty following the FHFA's decision allowing VantageScore in conforming mortgages, introducing the first meaningful competition to FICO's long-standing monopoly. Our EPS estimates are $41.08 for FY 26 (up from $38.48) and $46.90 in FY 27. We maintain our Hold rating while awaiting greater clarity on competitive dynamics and adoption trends for FICO's Mortgage Direct licensing program, with lender uptake remaining uncertain and management's dismissal of competitive threats contrasting with defensive pricing actions. While the company continues demonstrating strong near-term performance and aggressive capital returns through share repurchases, the regulatory landscape has fundamentally shifted in ways that warrant caution. FICO's Platform software momentum, expanding operating leverage, and switching costs offer enough upside to balance the recent industry changes.
$FICO
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Research Alert: CFRA Keeps Buy Opinion On Shares Of Cincinnati Financial Corp.
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 by $7 to $185, valuing CINF shares (currently yielding 2%) at 20x our 2027 operating EPS estimate of $9.15 (raised by $0.10) and at 21.5x our 2026 EPS estimate of $8.60 (raised by $0.10), versus its five-year average forward multiple of 21x and peer average. CINF posted Q1 operating EPS of $2.10 versus a $0.24 operating loss per share a year ago, matching our estimate and topping the $1.94 consensus view, amid 12% higher operating revenues due to 11% premium growth and 14% higher net investment income, with written premium growth of 7% likely at the upper end of peer averages. We believe CINF's competitive strengths include its facile underwriting style and ability to allocate underwriting capital to areas with the most promising fundamentals, positioning it well despite increasingly competitive market conditions. CINF's ability to consistently produce above-peer growth and underwriting profitability will support the shares' premium valuation versus peers, in our view.
$CINF
Research
Research Alert: CFRA Maintains Hold Opinion On Shares Of Linde Plc
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target by $48 to $537, using a P/E of 27.1x, equal to LIN's average forward P/E over the last three years. We raise our 2026 EPS estimate by $0.05 to $18.03 and 2027 by $0.26 to $19.81. LIN reported Q1 adj. EPS of $4.33, beating consensus by $0.06, with 30% operating margins and 24% ROC demonstrating the resilience of its business model. Management raised the low end of full-year guidance to $17.60-$17.90 (7%-9% growth), citing confidence despite geopolitical headwinds. The $7.1B project backlog should reach $8B+ by year-end, driven by Electronics projects supporting AI chip manufacturing. Americas volumes grew 2% Y/Y with double-digit hardgoods growth, though EMEA remains challenged by weak industrial activity. Commercial space is emerging as a significant growth driver, with aerospace sales up double-digits. Helium supply tightness presents upside opportunity beyond guidance. We think shares are fully valued at 25.6x our 2027 EPS estimate, limiting upside potential in the near term.
$LIN