-- 独立系調査会社CFRAは、に対し、以下の調査レポートを提供しました。CFRAのアナリストは、以下のように見解をまとめています。第1四半期決算発表後、当社は12ヶ月目標株価を26ドルに据え置きます。これは、2026年のEBITDA予想値に対するEV/EBITDA倍率6.7倍に基づいています。これは、IPの過去5年間の平均8.0倍を1標準偏差（1.3倍）下回る水準です。2026年のEPS予想を1.92ドルから1.83ドルに引き下げ、2027年のEPS予想は2.99ドルに据え置きます。IPは第1四半期決算で、EPSは市場予想（0.14ドルに対し0.15ドル）を上回ったものの、売上高は予想（60.10億ドルに対し59.7億ドル）を下回りました。これを受け、同社は2026年通期のEBITDAガイダンスを従来の目標値から32億ドル～35億ドルに下方修正しました。北米の業績は23億5000万ドル～25億ドル、EMEAは9億ドル～10億ドルに修正された。同社は、北米では価格上昇（1トン当たり50ドルの純増）、季節的な販売量回復、コスト削減策、メンテナンス停止の正常化により、下半期に6億5000万ドルの大幅な改善が見込まれる一方、EMEAでは、エネルギー需要による紙価格の上昇（1トン当たり100ユーロ）が包装契約に3～6ヶ月遅れで反映される前に、短期的に利益率が圧迫される見込みである。
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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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