-- 独立研究机构CFRA向发布了以下研究报告。CFRA分析师的观点总结如下：我们将NatWest集团的12个月目标价从19美元下调至17美元。我们的目标价是通过将市盈率应用于我们2026年的每股收益预测得出的。鉴于集团2026年第一季度业绩报告中凸显的更为谨慎的近期展望和宏观经济风险加剧，我们目前采用的目标市盈率为8.0倍，低于之前的9.3倍。尽管我们下调了评级，但我们的观点仍然总体积极，这主要基于其相对于同行的显著估值折让、持续的结构性对冲利好以及已证实的成本控制。然而，鉴于第一季度业绩报告揭示了新兴的宏观经济不利因素和特定利润率压力，我们对近期展望的谨慎态度有所缓和。尽管通过 Evelyn Partners 进军财富管理领域的长期战略扩张仍然稳健，但我们认为，要实现股价重新评估，目前需要应对这些更为突出的近期挑战。
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Commodities
EMEA Natural Gas Update: Futures Slip as Iran Sends Fresh Proposal to Washington
European natural gas futures traded lower after-hours on Friday after Iranian state media reported that Tehran had sent another proposal for negotiations with the US via Pakistani diplomatic channels, a development seen as potentially paving the way for renewed transit through the Strait of Hormuz.The front-month Dutch TTF contract fell 1.211% to 45.43 euros ($53.36) per megawatt-hour, while the UK NBP contract slipped 1.533% to 111.15 British pence ($1.51) per therm.US President Donald Trump, speaking to reporters at the White House on Friday, said, "Iran wants to make a deal, but I'm not satisfied with it," CNBC reported.Market participants continue to weigh geopolitical risk against relatively stable European supply conditions and weaker demand elsewhere. In a Thursday note, S&P Global analysts said Europe has benefited from "significant demand destruction elsewhere," noting that although the war has effectively removed about 20% of global LNG supply, European imports have remained broadly steady.The note said Asia has absorbed much of the demand adjustment. It said China recorded a 19% year-on-year drop in LNG imports in March, according to government data.Benchmark LNG prices remain elevated, but off recent highs, they said. The JKM benchmark for Northeast Asia put prices at $18.309/MMBtu on April 30, up 8.3% on the day. The DES Northwest Europe LNG marker was assessed at $15.719 per MMBtu on Apr. 29, up 7.9% day-on-day.The analysts said both benchmarks remain above pre-conflict levels but have retreated from peaks seen in the early weeks of the disruption.European storage levels remain below last year's levels. Gas Infrastructure Europe reported inventories at 32.49% as of Friday, compared with 39.22% a year earlier.CERA analysts project EU storage could reach about 80% by the end of October under a base-case scenario, assuming a resumption of steady Hormuz transit by Jun. 1.EU LNG imports rose slightly year over year in March, supported by cargoes already en route when the conflict began in late February, according to CERA data. However, that buffer has since faded, with April imports down roughly 6.9% from 2025 levels.Looking ahead, Severe Weather Europe said Friday it is monitoring the potential development of a "super El Nino" pattern. One scenario that could develop would be an increase in the risk of dry conditions and drought across Central Europe this summer.
Australia
Nebius to Acquire Eigen AI in $643 Million Cash-And-Stock Deal
Nebius Group (NBIS) said Friday it has agreed to acquire inference and model optimization firm, Eigen AI, in a cash-and-stock deal valued at about $643 million.The acquisition will strengthen Nebius Token Factory as a frontier managed inference platform for production AI, the company said, adding that the deal also accelerates its expansion in the US.The transaction is expected to close in the coming weeks, it said.Nebius shares were up over 10% in afternoon trading.Price: $152.93, Change: $+14.70, Percent Change: +10.63%
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Australia
Paychex Raises Quarterly Dividend to $1.19 a Share From $1.08, Payable May 29 to Shareholders of Record as of May 13
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