-- 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POOL的12个月目标股价上调17美元至269美元，基于2026年每股收益预期24倍（高于之前的23倍），该估值较POOL五年平均预期市盈率26倍有所折让，反映了新建泳池项目周期性不利因素的影响。我们将2026年每股收益预期从10.95美元上调至11.20美元，并将2027年每股收益预期从11.81美元上调至11.94美元，这反映了第一季度强劲的化学品（同比增长8%）和设备（同比增长7%）销售增长，以及建筑材料增长的逐步改善（同比增长5%）。 我们重申“买入”评级，认为管理层给出的2026年每股收益预期10.87美元至11.17美元是可以实现的，前提是销售额保持低个位数增长，且营业利润率持平，随着关税成本影响的减弱，这一预期还有上涨空间。我们认为POOL无可比拟的规模（455个销售中心）为其提供了关键优势，包括差异化的产品组合、快速提升自有品牌产品销售的能力，以及技术（POOL360）和供应商合作伙伴关系，这些都有助于公司在美国550万个已安装泳池用户群中获得市场份额。
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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