-- 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。12ヶ月目標株価を15ドル引き上げ、365ドルとします。これにより、EG株は、2026年の営業利益予想53.16ドル（本日0.99ドル引き下げ）の7倍、2027年の営業利益予想60.65ドルの6倍で評価されます。これは、1年先の平均予想PER6倍、同業他社の平均PER8.6倍を上回っています。EGの株価は、リストラの影響を反映して、同業他社に比べて割安な水準にあると認識しています。そのため、2026年の売上高は横ばいから5%減と予想しています。第1四半期の営業利益は16.08ドルで、前年同期の6.45ドルを上回り、当社の予想15.27ドル、市場コンセンサス予想13.96ドルを上回りました。営業収益は、既収保険料の7.2%減と投資収益の15%増により4.4%減少しましたが、コンバインド・レシオは102.7%から91.2%へと大幅に改善しました。当社は、EGの再編、特に中核事業である再保険事業に注力するため、小売商業保険事業の更新権を売却したことを高く評価しています。EGは、2025年から2026年にかけて2億5,000万ドルから3億5,000万ドルの税引前費用が発生すると予想しています。当社は、EGの引受実績がまちまちであることを考えると、純粋な再保険会社になることが評価倍率を拡大しないのではないかと懸念しています。
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