-- 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12个月的目标价为96美元，上调7美元，该目标价综合考虑了相对估值和现金流折现模型（DCF）分析。相对估值方面，我们采用10.5倍的企业价值倍数对预计的2027年EBITDA进行估值，与OKE的历史平均预期一致，得出每股价值89美元。同时，我们的DCF模型采用3.5%的中期自由现金流增长率和2.0%的终期增长率，并以5.4%的加权平均资本成本（WACC）进行折现，得出每股价值103美元。我们将2026年每股收益（EPS）预期上调0.09美元至5.78美元，但将2027年每股收益预期下调0.06美元至6.08美元。 OKE指出，其美国墨西哥湾沿岸二叠纪盆地天然气凝液（NGL）产量在第一季度增长了31%，我们认为这至少部分归因于中东地区的动荡以及海外买家寻求替代货源。我们预计，到2026年，增长性资本支出和股息支出将消耗约83%的运营现金流，这意味着一定的安全系数，但仅略优于同行。股票收益率为4.6%。
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Tech stocks were mixed late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) decreasing 0.4%.The Philadelphia Semiconductor index decreased 0.5%.In corporate news, Apple (AAPL) is planning to introduce a new feature for its next iPhone software update that will allow users to develop and personalize their own digital tickets and gift cards in the Wallet app, Bloomberg reported. The pass-building feature for iOS 27 Wallet is expected to address the issue of many services still not offering passes compatible with the Wallet platform, the report said. Apple shares were down 1.1%.
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Research
Research Alert: CFRA Maintains Sell Opinion On Shares Of Sirius Xm Holdings Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $5 to $22, applying an EV/revenue multiple of 2.0x to our 2026 estimate, a discount to its three-year historical average multiple of 2.5x. We trim our 2026 EPS estimate by $0.01 to $3.09 and raise 2027's by $0.14 to $3.45. There was mention of a softer auto sales environment, which created headwinds for trial starts and impacted subscriber acquisition, particularly following last year's tariff-driven pull forward in vehicle sales. Conversion rates for self-pay subscribers saw slight declines, especially as younger car purchasers entered the trial funnel, and used car conversion rates remained lower than new car rates. Subscriber trends are expected to be modestly lower Y/Y, with management cautioning about ongoing pressures and declining to change subscriber guidance for the year due to uncertainties in auto sales and companion subscription take rates.
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Treasury
US Treasury Lifts Q2 Borrowing Estimate
The US Treasury said Monday that it expects to borrow $189 billion in Q2, a larger borrowing estimate than the $109 billion it announced in its previous statement.The reason for the increase in the borrowing estimate was lower projected net cash flows that were partially offset by a higher-than-expected cash balance at the start of the quarter. The Treasury still assumes a $900 billion end-of-quarter balance.Borrowing is seen at $671 billion in Q3, with an estimated cash balance of $950 billion at the end of September.The Treasury borrowed $577 billion in Q1, ending March with an $893 billion cash balance at the end of the quarter. The Treasury had previously expected to borrow $574 billion with an end-of-March cash balance of $850 billion.The slightly higher amount of Q1 borrowing was due to a higher-than-assumed end-of-quarter cash balance that were partially offset by higher net cash flows, the Treasury said.