-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下：我们将目标价从128加元上调至145加元，这意味着2027年预期EBITDA的EV倍数为9.0倍，高于历史平均水平。该股2026年至今已上涨约55%，且相对于同业公司及其历史估值倍数而言，仍存在显著溢价。因此，尽管我们看好IMO的成本改善和增长潜力，但我们仍然认为其上涨空间目前已基本反映在股价中，建议投资者获利了结。该股估值相对于同业公司而言处于十年高位，且比其十年估值上限高出1.7个标准差。减持股份的举措积极有效，对股东有利。 然而，2026年第一季度并未回购任何股份。第一季度对IMO而言表现尤为疲软，净利润下降27%，主要原因是产量持平、定价疲软、价差扩大以及汇率波动带来的负面影响。如此高质量的运营执行情况可能会削弱上述溢价。我们将2026年每股收益预期从6.33加元上调至9.66加元，并将2027年每股收益预期从6.99加元上调至8.22加元。
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Research Alert: CFRA Lowers View On Shares Of Ati Inc. To Buy From Strong Buy
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Research Alert: CFRA Keeps Hold Opinion On Shares Of Oneok Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price of $96, raised $7, reflects a combination of relative valuation and DCF model analyses. On a relative basis, we apply a 10.5x multiple of enterprise value to projected '27 EBITDA, in line with OKE's historical forward average, which yields an $89 value. Meanwhile, our DCF model, using medium-term free cash flow growth of 3.5% and terminal growth of 2.0%, discounted at a WACC of 5.4%, yields a value of $103 per share. We lift our '26 EPS estimate by $0.09 to $5.78, but cut '27's by $0.06 to $6.08. OKE noted that its U.S. Gulf Coast Permian NGL volumes rose 31% in Q1, which we think is at least partly due to the disruption in the Middle East and overseas buyers looking for alternative sourcing. We estimate that the combination of growth capex and dividend outlays will chew up about 83% of operating cash flow in 2026, implying a modest degree of safety, but only slightly better than peers. Shares yield 4.6%.
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