-- 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：我们将目标股价从408美元下调至395美元，基于2026年每股收益预期18倍的预期市盈率，该市盈率低于ROP过去三年的平均市盈率。我们将2026年每股收益预期从21.49美元上调至21.95美元，并将2027年每股收益预期从22.92美元上调至23.40美元。ROP公布了强劲的第一季度业绩，营收和利润均超出市场预期。营收达21亿美元，同比增长11%（有机增长6%），主要得益于应用软件销售增长加速（同比增长11.6%）和网络软件业务强劲增长（同比增长14%）。调整后EBITDA为7.97亿美元，利润率为38.1%（同比下降120个基点）。展望未来，我们注意到部分领域（如Deltek和货运市场）持续面临不利因素，并购活动也较为缓慢。不过，我们对本季度执行的15亿美元股票回购计划表示赞赏，并认为随着大规模股票回购的持续，每股收益增长潜力将进一步提升。管理层将2026年全年调整后每股收益预期上调至21.80美元至22.05美元（中值同比增长9%），上调0.50美元，反映了第一季度业绩超出预期以及股票回购的良好势头。
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Research Alert: CFRA Maintains Hold Rating On Shares Of United Rentals Inc.
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Petro Rabigh Emerges From Loss in Q1; Revenue Grows
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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.
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