-- 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VRSN的目标股价从199美元上调至222美元，基于2027年每股收益预期，市盈率为22倍，低于VRSN过去三年和五年的平均市盈率26倍至29倍，这反映了我们对结构性利润率压力和定价灵活性有限的预期。由于域名基数增长势头好于预期以及价格上涨，我们将2026年每股收益预期从9.48美元上调至9.62美元，并将2027年每股收益预期从9.91美元上调至10.10美元。我们预计，VRSN的域名基数将受益于人工智能驱动的网站创建工具使在线业务更加普及，以及该公司注册局垄断地位的持续巩固。然而，鉴于人工智能引发的服务器和内存组件价格上涨导致资本支出大幅增加，我们对该股票仍持谨慎态度。同时，ICANN的年度价格上限限制了该公司完全抵消成本上涨的能力。这种结构性错配，加上2026年下半年将迎来大量首次续约用户，而这些用户的续约率约为重复续约用户的一半，因此我们维持对该股票的“卖出”评级。
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Research Alert: CFRA Maintains Hold Rating On Shares Of United Rentals Inc.
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