-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：我們將目標價從128加幣上調至145加幣，這意味著2027年預期EBITDA的EV倍數為9.0倍，高於歷史平均。該股2026年至今已上漲約55%，且相對於同業公司及其歷史估值倍數而言，仍存在顯著溢價。因此，儘管我們看好IMO的成本改善和成長潛力，但我們仍然認為其上漲空間目前已基本反映在股價中，建議投資人獲利了結。該股估值相對於同業公司而言處於十年高位，且比其十年估值上限高出1.7個標準差。減持股份的措施積極有效，對股東有利。 然而，2026年第一季並未回購任何股份。第一季對IMO而言表現特別疲軟，淨利下降27%，主因是產量持平、定價疲軟、價差擴大、匯率波動帶來的負面影響。如此高品質的營運執行情況可能會削弱上述溢價。我們將2026年每股收益預期從6.33加元上調至9.66加元，並將2027年每股收益預期從6.99加元上調至8.22加元。
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Estee Lauder's Turnaround Continues, Middle East Headwinds Remain, RBC Says
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