-- 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：我们维持44美元的目标价，基于16倍的预期市盈率和2026年每股收益预测2.75美元（低于三年平均水平）。我们将2026年每股收益预期从2.74美元上调至2.75美元，但将2027年每股收益预测从3.22美元下调至3.15美元。PEGA公布的2026年第一季度业绩喜忧参半，总营收为4.3亿美元，同比下降10%，低于市场预期；非GAAP每股收益为0.46美元，低于预期0.23美元，主要原因是订阅许可收入下降49%以及法律费用增加。然而，Pega Cloud 的收入飙升 36% 至 2.05 亿美元（占总收入的 48%），Pega Cloud 的年度合同价值 (ACV) 同比增长 29% 至 9.07 亿美元（按固定汇率计算增长 27%），反映出云转型势头强劲。我们预计，在续约组合有利、新客户储备充足以及 Blueprint 的持续增长的推动下，2026 年下半年业绩将更加强劲。我们看到了将现有传统系统迁移到支持 Blueprint 的云解决方案的机遇，并预计 Pega Cloud 的增长率将超过 30%。
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Research Alert: CFRA Maintains Hold Rating On Shares Of United Rentals Inc.
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 to $1,100 from $950 following a strong first quarter, valuing shares at 20.5x our 2027 EPS outlook of $54.28 (in line with previous estimate; 2026 EPS also in line). We believe a higher multiple is justified given URI's firming market leadership within an expanding rental equipment industry. A robust Q1 beat enabled URI to raise its full-year revenue guidance to $16.9B-$17.4B and adjusted EBITDA to $7.625B-$7.875B, citing momentum heading into a busy season. With leverage well below historical levels, we believe accretive M&A deals could serve as a potential catalyst for additional guidance increases. Margin compression has been a sticky issue for URI, but Q1 indicated that pricing may have turned around and that headwinds are starting to ease as quarterly results begin to lap when tariff-related inflation began to pick-up. We remain cautious on margins, though are encouraged by signs of stabilization. New project activity is likely supporting pricing trends, in our view.
$URI
Equities
Petro Rabigh Emerges From Loss in Q1; Revenue Grows
Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, said Sunday it swung back to profit in the first quarter of 2026, while revenue increased year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 1.47 billion Saudi riyals, compared with the attributable loss of 691 million riyals earlier. EPS moved to 0.88 riyal from a loss per share of 0.41 riyal.The Tadawul-listed oil refining and petrochemical company's revenue was 14.85 billion riyals, compared with 11.21 billion riyals a year ago.
$SASE:2380
Research
Research Alert: CFRA Keeps Buy Opinion On Shares Of The Hartford Insurance Group, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price by $8 to $155, valuing HIG shares at 11.3x our 2026 operating EPS estimate of $13.75 (cut by $0.45) and at 10.6x our 2027 EPS estimate of $14.65 (cut by $0.30), vs. the shares' one-year average forward multiple of 10.3x and peer average of 13x. Q1 EPS of $3.09 vs. $2.20 a year ago missed our $3.60 estimate and $3.39 consensus view. Operating revenue growth of 6.2% was in line with our 6%-10% forecast, amid 5.3% earned premium growth, 13% higher net investment income, and 7.9% fee revenue growth. Q1 written premium growth of 4% and full-year 2025 growth of 7% bode well for 2026 revenue trends as premiums are earned. Underwriting results improved significantly, with Personal Lines combined ratio improving to 87.7% from 106.1% and underlying combined ratio to 85.0% from 89.7%. Business Insurance combined ratio was stable at 94.8%. Weighing the Q1 EPS miss with HIG's decent top-line growth and discounted valuation to peers, we view the shares as undervalued.
$HIG