-- 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。シェルの12ヶ月目標株価を93米ドル（従来84米ドル）に引き上げます。これは、業績予想の上方修正と、2026年のPERが10.2倍（過去10年間の平均PER11.2倍を0.25標準偏差下回る水準）となることを根拠としています。シェルは大規模な統合事業を展開しており、下流部門が2027年の原油価格下落の影響を部分的に緩和できると見込んでいます。シェルの2026年第1四半期の調整後純利益は69億米ドル（前年同期比24%増）で、市場予想の範囲内でしたが、当社の予想を上回りました。これは、市場コンセンサスの2026年予想の26%、当社の予想の38%に相当します。したがって、原油および天然ガス価格の上昇を前提として、2026年のEPS予想を9.10米ドル（6.11米ドル）、2027年のEPS予想を8.19米ドル（6.29米ドル）に上方修正しますが、生産量予想は据え置きます。最近の原油価格の回復は、同社株とブレント原油価格との強い正の相関関係に支えられており、株価は今後も調整局面が続くと予想されるため、投資判断は「ホールド」を維持します。
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Research Alert: Grainger Q1 Earnings Jump As Margin Recovery Takes Hold
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