-- 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ATI的12个月目标价从154美元上调至179美元，基于2027年EBITDA预期，其EV/EBITDA倍数为19.0倍，高于ATI过去12个月的平均预期EV/EBITDA倍数16.9倍，但低于同行的平均预期EV/EBITDA倍数26.8倍。我们将2026年每股收益预期上调0.08美元至4.43美元，并将2027年每股收益预期上调0.28美元至5.40美元。我们认为ATI将继续受益于强劲的航空航天和国防需求，该领域占2025年第四季度销售额的68%，这得益于波音和空客的积压订单以及长期供应协议。管理层对2026年调整后EBITDA的预期中值为10亿美元，这意味着同比增长16%。随着维护业务恢复正常，以及航空航天业务占比提升至20%以上的利润率，预计2026年下半年盈利能力将有所改善。我们认为，ATI扩大的钛产能、运营杠杆以及客户对专有镍合金的投资，使其能够很好地把握2027年之前航空航天行业的增长机遇。我们维持“强烈买入”评级。
Related Articles
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
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