-- 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MKL的12个月目标价下调183美元至1977美元，按2026年每股收益预期109.85美元（下调5.20美元）的18倍市盈率计算，按2027年运营每股收益预期116.65美元（下调4.00美元）的17倍市盈率计算。相比之下，该股过去三年的平均远期市盈率为18倍，同业平均市盈率为12倍。我们还将2026年运营收入增长预期从4%至7%下调至持平至增长6%。第一季度运营收入同比持平，反映出保费收入下降2%（低于许多同业），但部分被投资收益增长8%、产品收入增长2%以及服务收入增长2%所抵消。我们认为，这些业绩，再加上 MKL 非保险业务的一些利润率压力，消除了股价上涨的催化剂。
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