-- 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：我们将该股12个月目标价上调15加元至114加元，基于2026年每股收益预期21倍（高于之前的18倍），与该股过去10年的平均远期市盈率一致。我们将2026年每股收益预期从4.00美元上调至4.05美元（5.43加元），并将2027年每股收益预期从4.30美元下调至4.29美元（5.75加元）。我们调整后的市盈率反映了我们认为，在利润率面临更大阻力的环境下，快餐连锁店的特许经营模式比公司自营模式具有更强的盈利韧性。我们新的预期反映了随着油价上涨可能限制外出就餐次数或整体购买力，消费者转向更经济实惠产品的趋势可能会加速。我们维持“持有”评级，因为快餐行业也无法免受成本压力的影响，预计2025年调整后的营业利润率将下降120个基点。我们认为，2026年的市场普遍预期表明利润率有望扩张，每股收益增长预期为9.9%，高于4.3%的营收增长预期，而后者可能面临风险。此外，目前的估值水平与历史平均水平相比，上涨空间有限。
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Research Alert: CFRA Keeps Hold Opinion On Shares Of Otis Worldwide Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target to $90 from $100 following Q1 earnings, valuing OTIS shares at 19.6x our 2027 EPS outlook of $4.58 (down from $4.70; 2026 EPS view updated to $4.18 from $4.25), a modest discount to industrial machinery peers' and OTIS's five-year forward multiple average given unclear timing of ongoing margin headwinds. Service margins were disappointing in Q1 (contracting 160 bps to 23%) amid higher labor and material costs that came in above pricing. Weakness in China has yet to stabilize, though as noted in the past, this represents a shrinking area of OTIS's portfolio and will have a more limited effect going forward. Overall, the latest quarter was more of the same (China weakness/New Equipment decline), though with the added concern of margin quality being pressured within Service - the core profit driver for OTIS overall. While efforts to shore up profitability are underway, we see timing of recovery being uncertain.
$OTIS
Asia Markets
Saudi Shares Start Week Higher; US-Iran Peace Talks Canceled
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$^TASI$SASE:2380$SASE:4012
Research
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